DENARIUS METALS FILES TORAL PROJECT TECHNICAL REPORT ON SEDAR+

TORONTO, Oct. 23, 2026 /CNW/ — Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) (“Denarius Metals” or “the Company”) announced today the filing of a National Instrument 43-101 – Standards of Disclosure for Mineral Projects compliant technical report in support of the Mineral Resource estimate for its 100%-owned Toral Project. The technical report, entitled “Technical Report on the Toral Zn-Pb-Ag Project, Leon Province, Castilla y Leon, Spain” with an effective date of July 24, 2026, was prepared by Resource Development Associates and supports the disclosures made by the Company in its news release dated September 9, 2026. The technical report can be found on the Company’s website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

The Mineral Resource estimate for the Toral Project, with an effective date of July 24, 2026, is as follows:

Notes:

1. Mineral Resources are reported in accordance with the CIM Definition Standards (2014) and NI 43-101.
2. The independent Qualified Person for the 2026 MRE is Scott E. Wilson, CPG, SME-RM, of RDA. Effective date is July 24, 2026.
3. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the 2026 MRE will be converted into Mineral Reserve.
4. All Mineral Resources are classified as Inferred. No Measured or Indicated Mineral Resources are declared. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration (closer-spaced infill drilling).
5. Resources are reported above an NSR cut-off of US$61/t, which is approximately equivalent to 3.05% ZnEq on a pure-zinc basis. The cut-off is based on Reasonable Prospects for Eventual Economic Extraction (RPEEE) using underground mining and Option A processing (on-site crushing, XRT ore sorting at ~45% mass rejection, grinding and dual-circuit flotation).
6. Operating cost basis used for the cut-off: mining US$36.30/t + processing US$18.33/t (effective after sorting) + G&A US$6.28/t = US$60.91/t, rounded to US$61/t for reporting.
7. ZnEq% = Zn% + (Pb% × 0.7482) + (Ag g/t × 0.0248).
8. NSR (US$/t ROM) = (Zn%/100 × 0.81 × 2,900 × 0.85) + (Pb%/100 × 0.87 × 2,020 × 0.95) + (Ag g/t × 0.49 × (37/31.1035) × 0.95).
9. Assumptions: long-term prices Zn US$2,900/t, Pb US$2,020/t, Ag US$37/oz; overall recoveries (flotation + XRT) Pb 87%, Zn 81%, Ag 49% (WAI 2022 carbonate testwork); payabilities Zn 85%, Pb 95%, Ag 95% (industry-typical pending commercial terms). It is the QP’s opinion that Zn, Pb and Ag have reasonable prospects of being recovered and sold.
10. Contained metal is in situ. No metallurgical recovery is applied to contained-metal figures. Metal values, if quoted, are illustrative only and are not NSR or revenue.
11. Bulk density (mineralized): 2.73 + 0.022 × (Pb% + Zn%). Waste assigned 2.70 g/cm³.
12. Numbers are rounded. Totals may not add due to rounding. All tonnes are metric.
13. The mineralized structure remains open along strike to the southeast and at depth.

About Denarius Metals

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol “DMET”. The Company also trades on the OTCQX Market in the United States under the symbol “DNRSF”.

In Colombia, Denarius Metals is producing gold and silver in an “early production” phase at its 100%-owned Zancudo Project while it completes construction a 1,000 tonnes per day processing plant that is expected to start producing high-grade gold-silver concentrates by the first quarter of 2027. The Zancudo Project is a high-grade gold-silver deposit, which includes the historic producing Independencia mine, and is located in the Cauca Belt, about 30 km southwest of Medellin.

In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21.8% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain.

Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) 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. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated March 31, 2026 which is available for view on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. 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, the reader is cautioned not to place undue reliance on forward-looking statements.

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SOURCE Denarius Metals Corp.

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