Denarius Metals Announces First Shipment from Its Zancudo Project Completed in June 2025

Rhea-AI Summary

Denarius Metals (OTCQX:DNRSF) has achieved a significant milestone with its first ore shipment from the Zancudo Project in Colombia. The initial shipment in June 2025 consisted of 64 tonnes of high-grade ore, containing 19 ounces of gold and 377 ounces of silver, with impressive grades of 9.4 g/t gold and 184.5 g/t silver.

The company has already completed a second shipment of 68 tonnes with even higher grades of 10.5 g/t gold and 250 g/t silver. Mining operations are expected to ramp up in the coming months, with the processing plant scheduled to begin operations by the end of 2025, pending the receipt of an industrial facility permit.

Positive

• First production milestone achieved with successful ore shipment to Trafigura
• High-grade ore quality with 9.4 g/t gold and 184.5 g/t silver in first shipment
• Second shipment completed with even higher grades (10.5 g/t gold, 250 g/t silver)
• Processing plant on schedule for end-of-year operation

Negative

• Currently operating without processing plant, limiting production capacity
• Industrial facility permit still pending approval

Toronto, Ontario--(Newsfile Corp. - July 14, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it completed its first shipment in late June of high-grade ore mined at its Zancudo Project in Colombia. The Company's local contract miner commenced mining activities in the second quarter of 2025, comprised of development work, initially focusing on three primary fronts to be ready within six months, and mineral extraction from other areas where high-grade ore is readily accessible. Mined material during this early production phase was stockpiled in the second quarter, and in late June, the first shipment of 64 tonnes was loaded and transported to port where it was sold to Trafigura under the Company's long-term offtake agreement. With the grades averaging 9.4 g/t gold and 184.5 g/t silver, the first shipment contained 19 ounces of gold and 377 ounces of silver.

Serafino Iacono, Executive Chairman of Denarius Metals, commented, "We are now officially in production, having completed our first shipment. This week, we completed our second shipment to Trafigura comprising 68 tonnes grading 10.5 g/t gold and 250 g/t silver. The frequency and quantity of shipments will continue to increase over the next few months as we ramp up our mining operations. We expect to receive our industrial facility permit in the coming weeks and, with this in hand, we will be able to proceed with the construction and installation of our processing plant, maintaining our schedule to have the plant in operation by the end of this year."

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 commenced mining operations in the second quarter of 2025 at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, 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. The Company owns a 21% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain.

Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including mine development plans, timing to receive the industrial facility permit in Colombia and frequency and quantity of future shipments from the Zancudo Project. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:

Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258681

FAQ

What were the gold and silver grades in Denarius Metals' (DNRSF) first Zancudo shipment?

The first shipment had grades averaging 9.4 g/t gold and 184.5 g/t silver, containing 19 ounces of gold and 377 ounces of silver.

When did Denarius Metals (DNRSF) complete its first ore shipment from Zancudo?

Denarius Metals completed its first shipment of high-grade ore from the Zancudo Project in late June 2025.

How much ore did Denarius Metals (DNRSF) ship in its second Zancudo shipment?

The second shipment comprised 68 tonnes of ore grading 10.5 g/t gold and 250 g/t silver.

When will Denarius Metals' (DNRSF) Zancudo processing plant be operational?

The company expects the processing plant to be operational by the end of 2025, pending receipt of industrial facility permit.

Who is the buyer of Denarius Metals' (DNRSF) Zancudo ore?

The ore is being sold to Trafigura under a long-term offtake agreement.