Collective Mining Enters into a Strategic Alliance with the University of Caldas

Collective Mining Ltd. (TSXV: CNL) ("Collective" or the "Company") is pleased to announce that a cooperation agreement has been executed between the Company and the University of Caldas to jointly develop academic and research projects focused on improving scientific knowledge in the Department of Caldas. With more than 15,500 students, the University of Caldas is recognized as the most influential public university in the region.

The cooperation agreement aims to strengthen research, technical assistance, continuing education and training and the exchange of academic content, in areas such as geology, biology and social work for the benefit of the students and professors. Additionally, specific programs will be developed with the aim of advancing the geological understanding of the Middle Cauca Belt in Colombia, where both of Collective's projects are located.

"We are pleased to have reached an agreement with such an important and prestigious academic institution," stated Omar Ossma, CEO and President of Collective. "Developing an alliance with the University of Caldas has been a goal of Collective Mining given the vast majority of the Company's employees are from the Department of Caldas and more than 90 percent of our staff working within our geology department are graduates of the Faculty of Geology at the University of Caldas. We are certain that this alliance will benefit all parties involved."

"We are committed to contributing to the country's scientific knowledge while working hard to offer our students and professors different opportunities to increase access to technology, innovation and academic excellence. We are convinced that this agreement will help us continue working in that direction while strengthening alliances with important stakeholders present in our Department", commented Alejandro Ceballos Márquez, Chancellor of the University of Caldas.

Elvira Cristina Ruiz Jimenez, Dean of the Faculty of Natural Sciences said "I believe that this alliance will bring many academic possibilities to students of our faculty and to other programs with a social component in our institution. We are convinced that together we will be able to generate new scientific knowledge for the country and have new fields for the development of academic practices and undergraduate and postgraduate research".

About Collective Mining Ltd.

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making a significant new mineral discovery and advancing the project to production. Management, insiders and close family and friends own approximately 40% of the outstanding shares of the Company and as a result are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects a total of eight major targets have been defined. The Company is fortuitous to have made significant grass root discoveries on both projects with discovery holes of 104 metres @ 1.3 g/t AuEq and 710 metres @ 0.53 AuEq at the Guayabales and San Antonio projects, respectively. ( See press releases dated October 18 ^th and 27 ^th for AuEq calculation.)

Contact Information

Collective Mining Ltd.
Steve Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065

To schedule a one-on-one meeting with management please use the following link:
https://calendly.com/collectivemining/30min?month=2021-11

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about Collective's future and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/452c53d0-8cbf-4580-bd8c-8865b66a5112