DENARIUS METALS ANNOUNCES SECOND QUARTER AND FIRST HALF 2026 FINANCIAL RESULTS

Second Quarter and First Half 2026 Financial Results

Denarius Metals Corp. announced today that it has filed its unaudited interim condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three and six months ended June 30, 2026. These documents can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted. Non-GAAP financial performance measures in this press release are identified with " NG ". For a detailed description of each of the non-GAAP measures used in this press release and a detailed reconciliation to the most directly comparable measure under IFRS, please refer to the Company's MD&A.

Early production continued to ramp up in the second quarter of 2026 at Denarius Metals' Zancudo Project in Colombia as the Company advances construction at its new 1,000 tonnes per day processing plant. During the second quarter of 2026, the Company delivered a total of 3,907 tonnes of mined material to a local port for sale to Trafigura Pte. Ltd. ("Trafigura"), representing a 67% increase compared with the first quarter this year. Head grades remained solid in the second quarter of 2026, averaging 11.3 g/t for gold and 217.1 g/t for silver. These shipments contained approximately 1,416 ounces of gold and 27,265 ounces of silver. Payable gold and silver in the second quarter of 2026, net of final liquidation adjustments from previous deliveries, amounted to 923 ounces and 9,304 ounces, respectively. This brought the total payable production for the first half of 2026 to 1,516 ounces of gold and 17,143 ounces of silver. Payable production in the first half of 2025 included only the Company's first shipment of 64 tonnes to Trafigura in June 2025 yielding 13 ounces of gold and 136 ounces of silver.

Second Quarter First Half 2026 2025 2026 2025 Operating data Gold sold (ounces) 923 13 1,516 13 Average realized gold price ($/oz sold) NG $ 4,536 $ 3,303 $ 4,667 $ 3,303 Total cash cost ($/oz sold) NG $ 2,513 2,260 $ 2,463 2,260 Financial data ($000's except per share) Revenue $ 4,920 $ 49 $ 8,447 $ 49 Gross profit 1,868 14 3,341 14 Loss from operations (197) (1,413) (922) (2,695) Net income (loss) 8,270 (5,012) (10,140) (9,255) Per share – basic and diluted 0.04 (0.05) (0.05) (0.09) Exploration and capital expenditures 3,347 2,094 5,447 3,221 June 30, December 31, 2026 2025 Balance sheet ($000's): Cash and cash equivalents $ 18,947 $ 6,899 Total assets 135,910 112,623 Convertible Debentures (at fair value) (1) 51,573 55,559 (1) As at June 30, 2026 and December 31, 2025, the total principal amount of Convertible Debentures issued and outstanding amounted to CA$34.2 million (equivalent to approximately $24.0 million). Subsequent to June 30, 2026, the Company fully redeemed the Convertible Debentures with common shares on July 31, 2026.

Total revenue in the second quarter of 2026 amounted to $4.9 million bringing the total revenue for the first half of 2026 to $8.4 million, up from $1.7 million of revenue recorded in its full 2025 fiscal year. In the first half of 2026, the average realized gold price NG was $4,667 per ounce sold and the total cash costs NG was $2,463 per ounce of gold sold. The Company generated a gross profit of $1.9 million in the second quarter of 2026 bringing the total for the first half of 2026 to $3.3 million, equivalent to approximately 40% of total revenue. The Company reported net income of $8.3 million ($0.04 per share) in the second quarter of 2026 compared with a net loss in the second quarter of 2025 of $5.0 million ($0.05 per share). The improvement in the Company's net earnings in the second quarter of 2026 compared with the second quarter last year can be attributed to the gross profit from gold and silver sales of $1.9 million and the non-cash gain recogniz...