DENARIUS METALS ANNOUNCES CLOSING OF TRANSACTION TO RETIRE ITS CONVERTIBLE DEBENTURES

Denarius Metals Corp. announced today the closing of the previously announced transaction to retire its convertible unsecured debentures due October 19, 2029 and its convertible unsecured debentures due May 30, 2030 through an early redemption completed today. Pursuant to the Transaction, the Company issued a total of 223,648,136 common shares to debentureholders, including: a total of 67,944,862 common shares to effect the conversions of the Debentures; a total of 146,456,832 common shares for the make whole payments and a total of 1,249,046 common shares for the consent fees, both associated with the early redemption of the Debentures; a total of 416,356 common shares to settle the monthly interest payments on the Debentures due on July 31, 2026; and a total of 7,581,040 common shares to settle the quarterly gold premium payments on the Series 1 Debentures due on July 31, 2026. As of today, the Company has a total of 437,082,353 common shares issued and outstanding. In addition, a total of 54,915,698 warrants and 13,727,500 stock options are issued and outstanding, resulting in a total of 505,725,551 common shares issued and outstanding on a fully diluted basis. Early Warning Reports In connection with the Transaction, Mr. Serafino Iacono (Executive Chairman), an insider of the Company, acquired 53,168,965 common shares in connection with the Transaction. As reported in his latest early warning report dated November 19, 2025, Mr. Iacono beneficially owned and controlled 24,699,451 common shares, representing approximately 16.44% of the Company's then issued and outstanding common shares. Since that report, Mr. Iacono acquired a total of 499,000 common shares in the open market and received a total of 2,375,157 common shares in settlement of monthly interest and quarterly gold premiums on his Debentures from November 2025 to May 2026. Immediately prior to closing the Transaction, Mr. Iacono beneficially owned and controlled 27,573,608 common shares, representing approximately 12.92% of the Company's then issued and outstanding shares, together with 2,440,000 stock options, 8,709,650 unlisted warrants and a total of CA$8,493,826 Debentures convertible into 15,233,768 common shares. Assuming the exercise of those stock options, warrants and conversion of the Debentures, Mr. Iacono would have beneficially owned and controlled 53,957,026 common shares, representing approximately 22.50% of the shares on a partially diluted basis. As a result of closing the Transaction, Mr. Iacono beneficially owns and controls 80,742,573 common shares, representing approximately 18.47% of the Company's issued and outstanding common shares, 2,440,000 stock options and 8,709,650 unlisted warrants. Assuming full exercise of his stock options and unlisted warrants, Mr. Iacono would have control and direction over 91,892,223 common shares, representing approximately 20.50% of the then outstanding common shares on a partially diluted basis, compared to approximately 28.61% on a partially diluted basis as reported in his latest early warning report. In addition, Aris Mining Corporation ("Aris Mining") acquired 36,478,221 common shares in connection with the Transaction. As reported in its latest early warning report dated November 20, 2025, Aris Mining beneficially owned and controlled 14,824,140 common shares, representing approximately 9.87% of the Company's then issued and outstanding shares. Since that report, Aris Mining acquired 3,750,000 common shares on the exercise of warrants in February 2026 and received a total of 4,554,874 common shares in settlement of monthly interest and quarterly gold premiums on its Series 1 Debentures from November 2025 to May 2026. Immediately prior to closing the Transaction,...