Collective Mining Outlines a Porphyry System at Plutus by Intersecting 328.05 Metres @ 0.31 g/t Gold Equivalent from Surface

Results Indicate a Higher-Grade Core May Exist to the North and Deeper

TORONTO, Oct. 15, 2024 /CNW/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce the assay results for the initial four reconnaissance drill holes designed to outline the mineralized early porphyry phase unit in the southern portion of the Plutus Target ("Plutus"). Plutus is one of a series of targets located within the Company's Guayabales Project in Caldas, Colombia. The Company currently has five drill rigs operating at the Guayabales Project as part of its fully funded and on-schedule, 40,000-meter drilling program for 2024 with two rigs operating at the Apollo system, two rigs at the Trap system and the final rig at Plutus.