DENARIUS METALS ANNOUNCES STRATEGIC COLLABORATION TO DEVELOP AND COMMERCIALIZE MINING, METALS AND CRITICAL MINERALS OPPORTUNITIES WITHIN THE KINGDOM OF SAUDI ARABIA

Rhea-AI Summary

Denarius Metals (OTCQX: DNRSF; Cboe CA: DMET) announced a strategic collaboration with Saudi-based ProGrowth on Feb 19, 2026 to form a JV partnership focused on processing, smelting and commercializing material from Denarius' Lomero and Toral projects in Spain and to pursue gold and nickel mining concessions in the Kingdom of Saudi Arabia.

The mandate includes establishing KSA processing arrangements and identifying, acquiring, developing and operating mining concessions, and the company said the collaboration could ultimately lead to a strategic equity investment in Denarius Metals.

Positive

• Strategic JV partnership established with ProGrowth in KSA
• Mandate to process Lomero and Toral material in KSA
• Plan to identify and develop gold and nickel concessions

Negative

• No financial terms or deal value disclosed
• No timeline provided for project milestones or concessions
• Possible future equity investment mentioned without specifics

TORONTO, Feb. 19, 2026 /PRNewswire/ - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has entered into a strategic collaboration as JV partners with ProGrowth Ltd. Company ("ProGrowth"), a Saudi-based diversified group of companies with long-standing experience across construction and infrastructure, oil & gas, petrochemicals, mining, trading and technology-enabled services in the Kingdom of Saudi Arabia ("KSA"). This strategic collaboration will focus on a mandate to establish arrangements in the KSA for the processing, smelting and commercialization of material sourced from the Company's Lomero and Toral Projects in Spain and to identify, acquire, develop and operate gold and nickel mining concessions within the KSA.

Serafino Iacono, Executive Chairman of Denarius Metals, commented, "Aligned with Saudi Vision 2030, we look forward to building this alliance with ProGrowth to develop and commercialize metals and critical minerals from our projects in Spain and new projects in the KSA. ProGrowth is a well-established construction and engineering firm in the KSA, providing services for such companies as Maaden, Saudi Arabia's leading mining company, and Saudi Aramco in the oil & gas sector. The collaboration with ProGrowth will open doors for Denarius Metals in the mining and metals sector in the KSA which could ultimately lead to a strategic equity investment in our Company".

About ProGrowth

ProGrowth is a Saudi-based diversified group of companies with long-standing experience across construction and infrastructure, oil & gas, petrochemicals, mining, trading, and technology-enabled services. The Group operates through specialized business units that collectively support the full project and value-chain lifecycle, from engineering and execution to trading and downstream commercialization.

ProGrowth's engineering capabilities are delivered through ProGrowth Engineering Consultancy, providing design, engineering, technical studies, and project support services for industrial, infrastructure, and energy-related developments. This engineering foundation is complemented by the Group's execution and project delivery experience across major construction and oil & gas sectors in the KSA.

In parallel, ProGrowth has established a strong presence in trading and commercial operations through ChemiLink, the Group's chemical and industrial trading arm, supplying and commercializing chemicals and materials for industrial, oil & gas, and mining-related applications. This trading capability enables ProGrowth to support supply chains, material sourcing, and commercialization strategies alongside project execution.

Building on this multi-sector foundation, ProGrowth has expanded strategically into the mining and minerals sector, covering mineral trading, commercialization, downstream processing, and value-addition initiatives. The Group's integrated model combining engineering, execution, trading, and regulatory expertise, aligns closely with Saudi Vision 2030, supporting localization, industrial development, and international partnerships.

Through its diversified platform, strong local presence, and sector-specific expertise, ProGrowth positions itself as a long-term strategic partner for international companies seeking to establish and scale operations across Saudi Arabia's energy, mining and industrial ecosystems.

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 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. The Company owns a 22% 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 its strategic collaboration with ProGrowth and the potential for a strategic equity investment. 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.

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SOURCE Denarius Metals Corp.

FAQ

What did Denarius Metals (DNRSF) announce about its collaboration with ProGrowth on Feb 19, 2026?

They announced a JV collaboration to process and commercialize metals and pursue mining concessions in Saudi Arabia. According to the company, the JV will target processing of material from Lomero and Toral and seek gold and nickel concessions within the Kingdom.

How will the Denarius Metals (DNRSF) collaboration affect Lomero and Toral projects?

The collaboration aims to establish KSA processing and smelting arrangements for Lomero and Toral material. According to the company, the mandate specifically covers commercialization pathways and downstream processing options in the Kingdom.

Does Denarius Metals (DNRSF) expect an equity investment from ProGrowth?

The company said the collaboration could ultimately lead to a strategic equity investment in Denarius Metals. According to the company, this is a possible outcome but no terms, size or timing were disclosed.

What mining opportunities will Denarius Metals (DNRSF) pursue in Saudi Arabia through the JV?

The JV will identify, acquire, develop and operate gold and nickel mining concessions in the Kingdom. According to the company, the mandate includes sourcing new projects and advancing concession development in KSA.

Are financial terms or a timeline provided for the Denarius Metals (DNRSF) JV with ProGrowth?

No; the announcement does not disclose financial terms or a timeline for milestones. According to the company, specifics such as deal value, schedules and definitive investment terms were not provided.