Collective Mining Ltd. announced high-grade gold and silver channel sample assay results from its grassroot generated Olympus target within the Guayabales project, Colombia. The Company presently has three diamond drill rigs operating at Guayabales with drills turning at the Olympus and Apollo targets as well as the newly discovered Trap target. At Olympus, the Company is focused on expanding upon the recently announced discovery holes of 302 metres @ 1.11 g/t gold equivalent and 216.7 metres @ 1.08 g/t gold equivalent.

Assay results of chip channel samples taken from veins located within historical, shallow underground workings from Olympus confirm the continuation of the high-grade carbonate base metal sheeted vein system into the southwest portion of the target area with results as follows: Multiple CBM veins were sampled, where possible at Olympus, over an area measuring 250 metres x 250 metres from limited and partial exposures of rock in old tunnels. The CBM veins are sulphide rich and associated with intense sericite-illite alteration superimposed on porphyry diorite and mineralized, hydrothermal breccia. Porphyry-related CBM veins can demonstrate robust continuity over significant vertical and lateral dimensions.

Drilling, underground sampling and surface mapping to date have expanded Olympus to a target area measuring more than 1,400 metres by 900 metres, which hosts over 50 artisanal mines with over 25 veins mapped from available exposures. The Company believes that the probability is high that additional veins will be discovered as exploration ramps up. The Olympus target is open to the east, west, northwest, south and at depth.

Olympus now includes two mineralized zones. Both zones contain multiple porphyry and overprinting CBM veins associated with intense pyrite-sericite-carbonate alteration and hosted in a porphyry diorite (Eastern zone) and within schist country rocks intruded by porphyritic diorite (Western zone). The highest-grade samples collected to date at Olympus come from areas that have yet to be drill tested by the Company.

Diamond drilling completed to date has only focused on a small northern portion of the Eastern and Western zones while recent surface and underground mapping has expanded the Western zone to the west and southwest. The Company is planning to move two underground rigs in Second Quarter into the area covered by these high-grade channel sampling results.