Collective Mining Announces Appointment of Vice President of Corporate Development and Investor Relations and Grant of Stock Options

Collective Mining Ltd. (TSXV: CNL) ("Collective" or the "Company") is pleased to announce the appointment of Steven Gold as Vice President of Corporate Development and Investor Relations effective October 12, 2021 and grant of 200,000 stock options. Each stock option is exercisable into one common share of the Company at a price of $2.40 per share for a period of five years from the date of grant and vest 25 percent every six months.

Steven has nearly 20 years of capital markets experience in the natural resources sector, having held various positions in the investment industry across both the buy and sell sides. More recently, Steven held senior officer and corporate development roles at various junior and mid-level global mining-sector companies.

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 projection to production.  Management and insiders own approximately 41% 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: (i) the San Antonio project; and (ii) the Guayabales Project. With an aggressive grassroots exploration program in 2021 outlining five major targets at the Guayabales Project, the Company recently initiated a maiden 7,500 metre drill program with a sole purpose to make the next major discovery in Colombia. Initial assay results from this drill program are anticipated in Q4, 2021.

Contact Information

Collective Mining Ltd.
Paul Begin, Chief Financial Officer
Tel. (416) 451-2727

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.