DENARIUS METALS ANNOUNCES UPDATE ON ITS CAPITAL STRUCTURE

Rhea-AI Summary

Denarius Metals (OTCQX: DNRSF) updated its capital structure after listed warrants expired on March 17, 2026. Since Jan 1, 2026 the company received approximately CA$18.7 million from exercise of ~30.2 million warrants.

As at March 17, 2026 there were 191,856,521 common shares outstanding, a market capitalization of ~CA$167 million (CA$0.87 close), and a fully diluted share count of 337,206,803.

Positive

• Cash raised of CA$18.7 million from warrant exercises
• Market capitalization approximately CA$167 million at CA$0.87 close
• Fully diluted shares quantified at 337,206,803 (clarifies cap table)

Negative

• Share count dilution to 191,856,521 common shares outstanding
• Potential convertible/debenture dilution totalling CA$34,158,874 (67,979,544 shares)
• In‑the‑money securities nearly fully diluted at 335,951,803 shares

TORONTO, March 18, 2026 /PRNewswire/ - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today an update on its capital structure following the expiry of the Company's listed warrants (DMET.WT) on March 17, 2026. These warrants were delisted from the Cboe CA exchange at the close of trading yesterday.

Since the beginning of this year, the Company has received total gross proceeds of approximately CA$18.7 million in cash from the exercise of approximately 30.2 million warrants at exercise prices ranging from CA$0.60 to CA$8.00 per share. As at March 17, 2026, the Company had a total of 191,856,521 common shares issued and outstanding and a market capitalization of approximately CA$167 million⁽¹⁾.

As at March 17, 2026, the Company had the following securities issued and outstanding:

Securities	Cboe Canada Symbol	Number	Shares Issuable	Exercise price per share	Expiry or Maturity
Common shares	DMET	191,856,521
Stock options			14,432,500	CA$0.52 – CA$6.50	2026 - 2031
Warrants	Unlisted	10,937,500	10,937,500	CA$0.60	April 4, 2026
	Unlisted	4,135,514	4,135,514	CA$0.85	October 31, 2026
	Unlisted	6,443,014	6,443,014	CA$0.60	May 30, 2027
	Unlisted	3,000,000	3,000,000	CA$0.74	February 7, 2028
	Unlisted	13,138,000	13,138,000	CA$0.60	March 20, 2028
	Unlisted	2,083,500	2,083,500	CA$0.60	April 30, 2028
	Unlisted	11,950,000	11,950,000	CA$0.70	November 19, 2028
	Unlisted	447,780	447,780	CA$0.50	November 19, 2028
	Unlisted	10,802,930	10,802,930	CA$0.66	June 20, 2030
			62,938,238
Convertible	DMET.DB	CA$19,886,560	44,192,354	CA$0.45	October 19, 2029
Debentures	Unlisted	CA$14,272,314	23,787,190	CA$0.60	May 30, 2030
		CA$34,158,874	67,979,544
Fully Diluted
"In-the money" (1)			335,951,803
Total			337,206,803

(1) Based on the closing price of the common shares on Cboe Canada of CA$0.87 per share on March 17, 2026.

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. 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

How much cash did Denarius Metals (DNRSF) receive from warrant exercises in 2026?

Approximately CA$18.7 million in gross proceeds. According to the company, this came from the exercise of about 30.2 million warrants with exercise prices between CA$0.60 and CA$8.00.

What is Denarius Metals' (DNRSF) common shares outstanding as of March 17, 2026?

The company reported 191,856,521 common shares issued and outstanding. According to the company, that count reflects post‑warrant exercises and listed warrant delisting on March 17, 2026.

What market capitalization did Denarius Metals (DNRSF) report on March 17, 2026?

A market capitalization of approximately CA$167 million. According to the company, this is based on a closing price of CA$0.87 per share on Cboe Canada that day.

What is Denarius Metals' (DNRSF) fully diluted share count after the warrant expiry?

Fully diluted shares total 337,206,803. According to the company, this includes outstanding options, unlisted warrants, convertible debentures, and debentures convertible into shares.

Are there remaining unlisted warrants or convertible securities for Denarius Metals (DNRSF)?

Yes. According to the company, multiple unlisted warrants and convertible/debenture securities remain outstanding with various exercise prices and expiries through 2030.