Quimbaya Gold and Denarius Metals Partner to Formalize Artisanal Mining at Tahami Project, Strengthening Long-Term Exploration Strategy

Quimbaya Gold and Denarius Metals Partner to Formalize Artisanal Mining at Tahami Project, Strengthening Long-Term Exploration Strategy

Partnership with Leading Colombian Mining Group to Formalize Artisanal Mining Production and Accelerate Exploration

Quimbaya Gold Inc. (CSE: QIM) (OTCQB: QIMGF) (FSE: K05) ("Quimbaya Gold" or the "Company") is pleased to announce the signing of a binding Letter of Intent with Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF), establishing a 50:50 joint venture aimed at formalizing existing small-scale mining operations located within the Company's Tahami Project, located in the Segovia Gold District of Antioquia, Colombia.

This collaboration seeks to integrate artisanal mining operations into a formalized structure to create mutually beneficial partnerships while supporting and empowering the host communities. Importantly, this initiative complements Quimbaya's ongoing exploration efforts, including its planned 4,000-meter drilling campaign at Tahami South, by fostering stronger community relations and facilitating access to key areas. Both parties are working diligently to finalize a definitive agreement as soon as possible, subject to customary regulatory and corporate approvals.

Joint Venture Highlights

  • 50:50 Production Partnership: Equal profit sharing between Quimbaya and Denarius (via Zancudo Metals Corp.). Denarius will provide technical and financial support so that the artisanal miners can legalize their production within the mining legalization program.

  • Joint development targeted on the Tahami South and Tahami North areas within the Tahami Project. Exploitation will focus on concessions SHO-08001, SE9-13331, LJQ-08001 and HHII-21 owned by Quimbaya.

  • Formalization of Existing Activities: The partnership aims to formalize current artisanal mining operations, aligning with successful models in the region.

  • Support for Exploration: By formalizing artisanal mining activities, the joint venture enhances community engagement, supporting Quimbaya's ongoing drilling and exploration initiatives.

  • Upcoming Cash Flow Opportunity: Upon finalizing the definitive agreement, efforts will commence to generate cash flow from the existing small-scale mining operations.

  • Complementary Strategy: This joint venture complements Quimbaya's exploration objectives, ensuring continued focus on making a high-grade discovery at Tahami.

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Figure 1. Location map of the Tahami South Project, adjacent to Aris Gold's Segovia mine.

To view an enhanced version of this graphic, please visit:
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Strategic Importance

This agreement allows Quimbaya to tap into a proven model of success already active in the Segovia-Remedios Mining District ("DMSR" by its initials in Spanish), where formalized artisanal mining contributes to Aris Mining's neighboring gold production. By partnering with Denarius - led by Serafino Iacono, a key figure behind the rise of Gran Colombia Gold (now Aris Mining), which was the largest underground gold and silver producer in Colombia for many decades and with current gold production of over 200,000 ounces per year from three main mines in the high-grade DMSR - Quimbaya gains access to a team with deep experience in turning artisanal mining into structured, profitable operations that benefit both communities and shareholders.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_002.jpg

Figure 2. Location Map of the Tahami North Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_002full.jpg

"This is a pivotal step for Quimbaya," said Alexandre P. Boivin, President and CEO of Quimbaya Gold, " as partnering with one of the most experienced exploration and mining teams in Colombia will not only allow Quimbaya to quickly leverage this existing opportunity, but also to deliver on our community objective of helping formalize artisanal miners, while we continue advancing our broader exploration and drilling plans to make a high-grade gold discovery on the Tahami South property."

About the Tahami Project

Located adjacent to Aris Mining's flagship Segovia Operations-one of the highest-grade underground gold producers globally-the Tahami Project spans over 17,000 hectares across a district-scale vein system that shows analogies with the DMSR, with historic artisanal activity and substantial exploration upside. The area is supported by existing infrastructure, a favorable mining jurisdiction, and a strong tradition of gold production.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_003.jpg

Figure 3. General map of the Tahami Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11347/251048_6abcb253d488a8a7_003full.jpg

Qualified Person statement - Ricardo Sierra BSc. Geology, MAusIMM (3078246)

Quimbaya's disclosure of technical and scientific information in this press release has been reviewed and approved by Ricardo Sierra (AusIMM), the Vice President Exploration for the Company, who is a Qualified Person as defined in National Instrument 43-101.

Completion of Corporate Continuance to British Columbia

The Continuance was approved by the shareholders of the Company at the annual general and special meeting of shareholders held on March 28, 2025 (the "Meeting"). The principal effects of the Continuance are set out in the management information circular for the Meeting dated February 14, 2025 (the "Circular"). Copies of the Circular and charter documents for the Continuance are available on SEDAR+ under the Company's profile at www.sedarplus.ca.

About Quimbaya Gold Inc.

Quimbaya Gold Inc. is a Canadian junior exploration company focused on discovering gold resources through the exploration and acquisition of mining properties in Colombia's prolific mining districts. The Company is actively advancing three projects in the Antioquia Province: the Tahami Project in Segovia, the Berrio Project in Puerto Berrio, and the Maitamac Project in Abejorral. Managed by an experienced team with deep local knowledge, Quimbaya is committed to creating value for its shareholders through strategic exploration and development initiatives.

Contact Information

Alexandre P. Boivin, President and CEO
apboivin@quimbayagold.com
+1-647-576-7135‎

Jason Frame, Manager of Communications
jason.frame@quimbayagold.com

Quimbaya Gold Inc.
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Cautionary Statements

Certain statements contained in this press release constitute "forward-looking information" as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to: the joint venture will be completed on the terms set forth in the letter of intent, the parties will perform their obligations under the joint venture and the results of the joint venture will be as expected. Although Quimbaya's management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change.

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

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Unlocking high-grade gold potential in Antioquia, Colombia’s premier mining district

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NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN 
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1911 Gold is a junior gold developer with a highly prospective, consolidated land package totaling more than 61,647 hectares within and adjacent to the Archean Rice Lake greenstone belt in Manitoba . The Company also owns the True North mine and mill complex at Bissett, Manitoba , providing a fully permitted infrastructure hub to support future development. 1911 Gold believes its land package represents a prime opportunity to build a new mining district centred on the True North complex.

In addition, the Company holds the Apex project near Snow Lake, Manitoba , and the Denton-Keefer project near Timmins, Ontario , and remains focused on advancing organic growth while pursuing accretive acquisition opportunities across North America .

1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation, and all local stakeholders, in order to build mutually beneficial working relationships.

ON BEHALF OF THE BOARD OF DIRECTORS

Shaun Heinrichs
President and CEO

www.1911gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release may contain forward-looking information and statements, collectively ("forward-looking statements"), within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, predictions, projections, forecasts, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about exploration plans and the timing and results thereof, as well as statements relating to the plans and timing for the potential mining operations at the True North Project, including trial mining and the benefits therefrom, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

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

SOURCE 1911 Gold Corporation

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