Denarius Metals Corp. · NEO:DMET
Denarius Metals — Investor Presentation (February 2026)
29 slides from Denarius Metals's investor presentation, February 2026
Slide 1: Emerging Multi-Asset Producer Corporate Presentation
Emerging Multi-Asset Producer In Production at Colombia’s Newest Gold Mine Near Term Critical Minerals Production from one of the EUs Key Strategic Projects Corporate Presentation February 2026 Cboe CA: DMET | OTCQX: DNRSF
Slide 2: Cautionary Notes
Cautionary Notes Forward Looking Statements This presentation contains statements that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Any statements that express or involve discussions with respe
Slide 3: Emerging Multi Asset Producer in Colombia and Spain
Emerging Multi Asset Producer in Colombia and Spain Near-Term Production Zancudo started mining operations in April 2025; Aguablanca coming into production in the next 12 Months In-Demand Critical Minerals Au, Ag, Cu, Ni, Pb, Zn, Co, Pt, Pd Aguablanca designated as a “Strategic Project’ by the EU Fa
Slide 4: Emerging Multi Asset Producer in Colombia and Spain
Emerging Multi Asset Producer in Colombia and Spain In Production Coming Into Production Within 12 Months Zancudo Project Aguablanca Project Au, Ag Ni, Cu, Co, Pt, Pd, Au Historic underground mine in Designated by the European Colombia’s Cauca Belt in the Commission as a “Strategic Project”. Departm
Slide 5: Company Overview
Company Overview Number Expiry Exercise Price Per Share Management Common shares (DMET) 164,361,994 Serafino Iacono Executive Chairman Shares issuable for: Unlisted warrants 36,449,946 Mar/Apr-2026 CA$0.60 Federico Restrepo-Solano Chief Executive Officer Listed warrants (DMET.WT) (1) 7,500,000 Mar-2
Slide 6: Convertible Debentures Overview
Convertible Debentures Overview Key Terms Series 1 Due October 2029 Series 2 Due May 2030 Issued and outstanding CA$19,886,560 CA$14,272,314 Listing Cboe Canada: DMET.DB Unlisted Conversion price CA$0.45/share CA$0.60/share Interest rate (1) 12% p.a., paid monthly 12% p.a., paid monthly Gold Premium
Slide 7: Zancudo Project Highlights
Zancudo Project Highlights 100% Owned through Cauca Belt, Colombia Zancudo Metals Au Ag Medellin Located in a Historic Mining District. Zancudo Project ~30 km SW of Medellin. Colombia Mining of high-grade gold-silver-quartz veins was carried out in the Zancudo district from 1793 to 1948 with an esti
Slide 8: Zancudo Project - A Rich History
Zancudo Project - A Rich History 1746 Gold first discovered in the Zancudo district. Mining has been carried out since 1793 in 58 mines. The Sociedad del Zancudo mining company was created. Regarded as 1848 one of Colombia’s most important companies of the 19th century, it operated until 1948. First
Slide 9: Zancudo Project – Production Has Started
Zancudo Project – Production Has Started Our contract miner started mining operations in April 2025 and is carrying out mine development in three main fronts over the next 4-6 months. Others to follow. In the interim, material is being sourced from mine areas where artisanal mining is being carried
Slide 10: Zancudo Project - High-Grade Au-Ag Concentrates
Zancudo Project - High-Grade Au-Ag Concentrates All equipment for the new 1,000 tpd processing plant has arrived at site. Plant is fully permitted. Construction has started and it is expected to be commissioned and operating by mid-2026. Long-term offtake agreement to sell Au-Ag concentrates to Traf
Slide 11: Zancudo Project - Significant Exploration Upside
Zancudo Project - Significant Exploration Upside Los Albertos and Las Brisas Target Areas 2024 Drilling Programs (1,2) 45 drill holes totaling ~7,225 meters. Multiple high gold and silver grades have been intersected in most of the drill holes. Confirms the continuity and extends the mineraliz
Slide 12: Zancudo Project – Mineral Resource Estimate
Zancudo Project – Mineral Resource Estimate (1) Grade Material Content Tonnes October 2025 Category Au Ag AuEq Au Ag AuEq (kt) (g/t) (g/t) (g/t) (koz) (koz) (koz) MRE Update (1) Indicated 979 6.9 84 7.9 217 2,657 249 Inferred 4,636 5.6 84 6.6 832 12,508 982 Next Steps: PEA update 15,000 m drilli
Slide 13: Spain
Spain A Historic, Prolific and Supportive Mining Jurisdiction According to the latest Spain has a rich history of The Spanish mining industry The Spanish mining sector Spain is considered a The mining industry in Spain Eurostat estimates, Spain's mining, with evidence of is composed of both employs
Slide 14: In-Demand Critical Minerals
In-Demand Critical Minerals Powering a Low-Carbon Future Nickel Copper Zinc Lead Silver Aguablanca Project Aguablanca Project Aguablanca Project Aguablanca Project Zancudo Project Extremadura, Spain Extremadura, Spain Extremadura, Spain Extremadura, Spain Cauca Belt, Colombia Lomero Project Lomero P
Slide 15: Near-Term Producer of Low Carbon Metals in Europe
Near-Term Producer of Low Carbon Metals in Europe Toral Project Future Underground Mine Centralized processing at the Rio Narcea plant located in Extremadura, Spain Zn-Pb-Ag • 5,000 tpd turnkey processing plant using conventional crushing, grinding and flotation processes • Fully permitted • Central
Slide 16: In-Demand Critical Minerals: Proximity to Nearby Producers
In-Demand Critical Minerals Proximity to Nearby Producers AGUABLANCA and Projects Approximate distance from Lomero to: Aguablanca Project and 5,000 tpd Plant 88 km Lundin Mining - Neves-Corvo 136 km Sandfire Matsa - Aguas Tenidas 10 km Atalaya Mining - Rio Tinto 46 km First Quantum - Las Cruces 110
Slide 17: Aguablanca Project Highlights
Aguablanca Project Highlights Extremadura, Spain 22.2.1% Owned through Alto Minerals S.L.U.; Operator of the Project Recognized by the European Ni Cu Co Pt Pd Au Commission in a March 25, 2025 250km Glencore Zinc Smelter decision as a “Strategic Project” Toral Project Historic Producer with Turnkey
Slide 18: Aguablanca Project - A Rich History
Aguablanca Project - A Rich History 1994 Discovery of the Ni-Cu deposit in Aguablanca 1996 Atlantic Copper acquires rights to exploit the Deposit 2001 Rio Narcea Recursos S.A. acquires rights to exploit the Deposit Environmental Impact Statement (EIS) received by the authorities. 2003 Beginning of p
Slide 19: Cboe CA: DMET | OTCQX: DNRSF
Cboe CA: DMET | OTCQX: DNRSF 19
Slide 20: Aguablanca Project – A Low Carbon Metals Producer
Aguablanca Project – A Low Carbon Metals Producer Through the combination of underground mining and the processing of the concentrates at Boliden’s Harjavalta smelter in Finland (lowest CO2 footprint of all nickel smelters), the Aguablanca Project is projected to be in the top quartile of estimated
Slide 21: Aguablanca Project Mineral Resources and Reserves Estimate
Aguablanca Project Mineral Resources and Reserves Estimate Mineral Resource Estimate Effective Date March 24, 2024 Grade Contained Metal Resource Cutoff Tonnage Ni Cu Co Pd Pt Au NiEq Ni Cu Co Pd Pt Au NiEq Category (Ni%) (K tonnes) (%) (%) (%) (ppm) (ppm) (ppm) (%) (Klbs) (Klbs) (Oz) (Oz) (Oz) (Oz)
Slide 22: Aguablanca Project - Pre-Feasibility Study
Aguablanca Project - Pre-Feasibility Study (1) “ “ Key Economic Parameters of the PFS effective as at March 24, 2024: Assumption / Results 100% Basis (*) Total tonnes processed from underground mining over the LOM 4,807,000 Average LOM process rate 2,403 tpd The PFS confirms our decision in late 202
Slide 23: Aguablanca Project – Exploration Upside
Aguablanca Project – Exploration Upside The potential exists to extend the mine life of the Aguablanca Project beyond the currently estimated 6 years. North orebody This will require a drilling program focused on Main orebody expansion to depth of the mineral resources as well as expanding the resou
Slide 24: Lomero Project Highlights
Lomero Project Highlights Iberian Pyrite Belt, Spain 100% Owned through Alto Minerals S.L.U. 250km Glencore Zinc Smelter Toral Project Cu Zn Pb Au Ag Spain Located in a World Class Mining District 800km The Iberian Pyrite Belt is the largest concentration of massive sulfides in the Madrid world. The
Slide 25: Lomero Project - A Rich History
Lomero Project - A Rich History Exploration Production Billition Mining commenced in the late 1850’s and continued until 1990 1984 Conducted a program of 60 underground diamond drilling holes A small amount of ore came from the two pits at Lomero (east) and Poyatos (west), but most of the historical
Slide 26: Lomero Project – Investigation Permits Located on IPB Mineralized Trend
Lomero Project – Investigation Permits Located on IPB Mineralized Trend Palomarejo Lomero-Poyatos • Investigation Permit No 14,978; • Rubia Investigation Permit No 14,977 • 100% held by Alto Minerals S.L.U. • 100% held by Alto Minerals S.L.U. • 151 hectares area adjacent to and on strike with the •
Slide 27: Lomero Project - Mineral Resource Estimate
Lomero Project - Mineral Resource Estimate Denarius Metals prepared an NI 43-101compliant MRE(1) for the Lomero Project effective July 31, 2023 Category Tonnes Gold Gold Metal Silver Silver Metal Copper Copper Metal Zinc Zinc Metal Lead Lead Metal CuEq Grade Content Grade Content Grade Content Grade
Slide 28: Toral Project Highlights
Toral Project Highlights Leon Province, Spain 100% through Europa Metals Iberia S.L. Zn Pb Ag 250km Glencore Zinc Smelter Toral Project Located in a Well-Mineralized Historic Mining Area and Proactive Jurisdiction The Toral exploration license covers an area of 20.29 km². Spain Located approximately
Slide 29: Have Questions?
Have Questions? GET IN TOUCH WITH DENARIUS METALS Investor Relations +1 (416) 360-4653 [email protected] www.denariusmetals.com
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