Collective Mining Announces Reconnaissance Drilling is Underway at Trap, a Newly Defined Bulk Tonnage Target Characterized by Multiple, High-Grade Vein Systems

TORONTO, May 26, 2022 (GLOBE NEWSWIRE) -- Collective Mining Ltd. (TSXV: CNL) (“Collective” or the “Company”) is pleased to announce high-grade gold and silver channel sample assay results from its recently discovered Trap target (“Trap”) within the Guayabales project (“Guayabales”), Colombia. Trap is located within the northern portion of the 4 kilometre x 4 kilometre porphyry cluster within which the Company has generated eight drill targets through grassroots prospecting to date. Four of these targets have been drill tested (excluding Trap) yielding three significant discoveries including the Olympus target where the Company recently announced near surface discovery holes of 302 metres @ 1.11 g/t gold equivalent and 216.7 metres @ 1.08 g/t gold equivalent (refer to press release dated March 15, 2022 and May 9, 2022, respectively). Collective presently has three diamond drill rigs operating at Guayabales with drills turning at the Trap and Apollo targets with a fourth rig expected to kick off a phase II drilling program at the Olympus target in late June 2022.

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