DENARIUS METALS ANNOUNCES SECOND QUARTER AND FIRST HALF 2026 PRODUCTION RESULTS FOR ITS ZANCUDO PROJECT IN COLOMBIA

DENARIUS METALS ANNOUNCES SECOND QUARTER AND FIRST HALF 2026 PRODUCTION RESULTS FOR ITS ZANCUDO PROJECT IN COLOMBIA PR Newswire TORONTO , July 29, 2026 /PRNewswire/ -- Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today the details of the production results achieved in the second quarter and first half of 2026 during the early production phase at its Zancudo Project in Colombia. Serafino Iacono, Executive Chairman of Denarius Metals, commented, "We continue to increase our daily average mining rates during the early production phase at our Zancudo Project. This has allowed us to increase our shipments to 3,907 tonnes in the second quarter of 2026 representing a 67% increase compared with the first quarter this year.

Head grades remained solid in the second quarter of 2026, averaging 11.3 g/t for gold and 217.1 g/t for silver, resulting in total revenue for the second quarter of 2026 of US$5.1 million. This brings our total revenue for the first half of 2026 to $8.6 million, up from US$1.7 million reported for our 2025 fiscal year. We continue to advance mine development and plant construction activities toward our objective of producing gold-silver concentrates by the fourth quarter of this year." Denarius Metals commenced mining operations at its Zancudo Project in the second quarter of 2025.

The current "early production" phase encompasses artisanal mining in accessible areas of the Zancudo Project and is expected to run through the third quarter of 2026 as mine development progresses to open new fronts that are being developed for long-term conventional, semi-mechanized mining operations and construction of the Company's new 1,000 tonnes per day processing plant is completed. Mined material is being shipped during this early production period to a local port for sale to Trafigura pursuant to a long-term offtake contract. Concentrates production will also be sold to Trafigura when the new processing plant goes into operation.

A summary of the operating results during the Zancudo Project's early production phase is set out below: During the current early production phase, Trafigura's payability rates range from 30% to 70% for gold and 20% to 40% for silver, depending on the grades of the material. Trafigura's payability rates in the early production phase reflect the additional costs they have to incur to bring the material to a saleable condition. When the Company begins shipping concentrates to Trafigura, payability rates will increase to 86% to 90% for gold and 35% to 45% for silver, depending on the grades in the concentrates.

About Denarius Metals Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF".

In Colombia, Denarius Metals is producing gold and silver in an "early production" phase at its 100%-owned Zancudo Project while it completes construction of a 1,000 tonnes per day processing plant that is expected to start producing high-grade gold-silver concentrates by the third quarter of 2026. The Zancudo Project is a high-grade gold-silver deposit, which includes the historic producing Independencia mine, and is located in the Cauca Belt, about 30 km southwest of Medellin. In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals.