Toronto, December 16, 2024 /PRNewswire/ - Collective Limited (NYSE: CNL) (TSX: CNL) (the "Collective" or "Company") Declare with deep sorrow, that s. Paul MurphyA valued member of the Collective's Board of Directors has passed away.

Paul Murphy was a partner of PricewaterhouseCoopers LLP From 1981 to 2010 including serving as National Mining Leader From 2004 to 2010. Throughout his career, Mr. Murphy Worked primarily in the resources sector, with a client list that included major international oil and gas, and mining companies. He was previously a director of Continental Gold until its acquisition March 2020Chief Financial Officer and Executive Vice President of Guyana Goldfields from 2010 to 2018, and Chief Financial Officer of Guyana Precious metals From 2012 to 2018. Mr. Murphy Received Bachelor of Commerce degree from Queen's University and his Chartered Accountant designation in 1975.

Ari SusmanThe executive chairman commented: "It is with sadness that we announce the loss of Paul as a director of the company. Paul will always be remembered for his supportive leadership, professionalism and warm nature. Our thoughts go out to his family. and are with loved ones."

About Collective Mining Limited

To view our latest corporate presentation and related information, please Visit www.collectivemining.com

Established by the team that develops and sells Continental Gold Inc. For Zijin Mining approx $2 billion In enterprise value, Collective is a gold, silver and tungsten exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located within an established mining camp with 10 fully permitted and operational mines.

The company's flagship project, Guaybeles, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten Apollo system. The company aims to expand the Apollo system by going out with the strike and testing the newly discovered high-grade. Apollo Ramp ZoneExpand the trap system and drill a series of newly designed targets including towers and axes.

Management, insiders, a strategic investor and close family and friends own 44.5% of the company's outstanding shares and, as a result, are fully engaged with shareholders. The Company is listed on the NYSE under the trading symbol "CNL", on the TSX under the trading symbol "CNL", on the FSE under the trading symbol "GG1".

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Forward-looking statements

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Any statement that includes predictions, expectations, beliefs, plans, estimates, objectives, assumptions, future events or performance (often, but not always, phrases such as "plans", "anticipates", "expects", "intends (not used) includes discussion regarding budget", "estimated", "estimated", "intended", "estimated", or "believed" or variations. (Variations of such words and phrases, including the negative, or indicating that certain actions, events or results "may", "could", "will", "may" or "will" be taken, occur is or may be obtained) are not statements of historical fact. and may contain forward-looking statements. Forward-looking statements in this news release relate to, among other things: anticipated progress of mineral properties or programs; future operations; future recovery metal recovery rates; the future growth potential of the collective; and future development plans.

These forward-looking statements, and any assumptions on which they are based, are made in good faith and reflect our current judgment about future events, including the direction of our business. Management believes these assumptions are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the Company's actual results, performance or achievements to differ materially from future results, performance or achievements implied by the forward-looking statements. indicated or implied. Such factors include, among others: risks related to the speculative nature of the Company's business; early stages of company development; financial condition of the company; possible variations in mineralization, grade or recovery rates; actual results of current research activities; Conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; currency market fluctuations; changes in national and local government, laws, taxation, regulatory regulations and political or economic developments; hazards and risks associated with mineral exploration, development and mining business (including environmental hazards, industrial accidents, abnormal or sudden formation pressures, cave-ins and floods); inability to obtain adequate insurance to cover risks and perils; existence of laws and regulations that may impose restrictions on mining; employee relations; relations and claims with local communities and indigenous populations; increasing costs associated with availability of mining inputs and labor; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from governmental authorities); and title of assets, as well as those risk factors discussed or mentioned in the company's annual information form. March 27, 2024. The forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as applicable by be required Securities Law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events may differ materially from those anticipated in such statements and there may be other factors that affect the expected results, estimates. or may cause non-objectivity. Accordingly, readers should not place undue reliance on forward-looking statements.