Collective Mining Announces Investment and Early Exercise of Warrants by Agnico Eagle for Gross Proceeds of C$63.4 Million

TORONTO, March 14, 2025 /PRNewswire/ - Collective Mining Ltd. (NYSE: CNL) (TSX: CNL) ("Collective" or the "Company") is pleased to announce that it has entered into an agreement with Agnico Eagle Mines Limited ("Agnico Eagle") pursuant to which Agnico Eagle has agreed to subscribe for 4,741,984 common shares in the capital of the Company (the "Shares") at a price of C$11.00 per Share (the "Offering"). Closing of the Offering is conditional upon, among other things, Agnico Eagle concurrently exercising the common share purchase warrants of the Company (the "Warrants") it currently holds to acquire an additional 2,250,000 Shares at a price of C$5.01 per Share. In total, between the Offering and the exercise of the Warrants, the Company will receive gross proceeds of approximately $63.4 million. At Closing of the Offering, Agnico Eagle's ownership interest in the Shares is expected to increase to approximately 14.99%.

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