Denarius Metals Announces Receipt of 20-Year Water Concession and Now Has All Required Permits to Re-Start Operations at the Aguablanca Project in Spain; Files First Quarter 2025 Interim Filings on SEDAR+

Toronto, Ontario--(Newsfile Corp. - May 15, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or "the Company") 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 months ended March 31, 2025. 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.

Denarius Metals also announced today that it has received important news in Spain that the application for the Water Concession for the Aguablanca Project has been approved for a 20-year period. This follows the news in March 2025 that the European Commission published a decision recognizing the Aguablanca Project in a list of 47 critical raw material projects located across 13 EU Member States as "Strategic Projects", a significant milestone in the implementation of the Critical Raw Materials Act. With the Water Concession in hand, the Aguablanca Project now has all the permits required to commence the de-watering of the underground mine to re-start operations. In its role as operator of the Aguablanca Project, the Company is currently finalizing arrangements for project financing directly through Rio Narcea Recursos, S.L. ("RNR"), owner of the Aguablanca Project, to fund the capital expenditures associated with the plant refurbishment and de-watering activities, site administration costs and initial working capital. It is estimated that the de-watering program will take 6 to 9 months to complete after which contract mining operations will be able to commence. Refurbishment of Aguablanca's processing plant will be carried out simultaneously with the de-watering program. Aguablanca is shaping up to become the Company's second mine coming into operation within the next 12 months.

Denarius Metals commenced mining operations in April 2025 at its Zancudo Project in Colombia. During the early production phase, expected to run into the fourth quarter this year when its 1,000 tonnes per day processing plant goes into operation, mined material is being crushed onsite and then shipped to a local port for sale to Trafigura Pte. Ltd. ("Trafigura"). First production is expected in the second quarter of 2025.