Denarius Metals Corp. has announced a strategic joint venture collaboration with ProGrowth Ltd., a Saudi-based diversified group with extensive experience across construction, infrastructure, oil & gas, petrochemicals, mining, trading, and technology-enabled services within the Kingdom of Saudi Arabia.

The partnership establishes a mandate to develop processing, smelting, and commercialization arrangements in Saudi Arabia for materials sourced from Denarius’ Lomero and Toral Projects in Spain. In parallel, both parties will collaborate to identify, acquire, develop, and operate gold and nickel mining concessions within the Kingdom.

Strategic Alignment with Saudi Vision 2030

Serafino Iacono, Executive Chairman of Denarius Metals, stated:

“Aligned with Saudi Vision 2030, we look forward to building this alliance with ProGrowth to develop and commercialize metals and critical minerals from our projects in Spain and new projects in the KSA. ProGrowth is a well-established construction and engineering firm in the KSA, providing services for such companies as Maaden, Saudi Arabia’s leading mining company, and Saudi Aramco in the oil & gas sector. The collaboration with ProGrowth will open doors for Denarius Metals in the mining and metals sector in the KSA which could ultimately lead to a strategic equity investment in our Company”.

This collaboration reflects a broader push to localize mineral value chains, strengthen downstream processing capacity, and enhance international investment flows into Saudi Arabia’s rapidly expanding mining sector.

About ProGrowth

ProGrowth operates as a diversified Saudi group supporting the full project and value-chain lifecycle, from engineering and execution to trading and downstream commercialization.

Its engineering capabilities are delivered through ProGrowth Engineering Consultancy, offering design, engineering, technical studies, and project support services for industrial, infrastructure, and energy-related developments. These services are reinforced by the Group’s hands-on project execution experience across major construction and oil & gas sectors in the KSA.

The Group has also established a strong commercial footprint through ChemiLink, its chemical and industrial trading arm, which supplies and commercializes materials for industrial, oil & gas, and mining applications. This integrated trading function supports supply chain management, material sourcing, and commercialization strategies alongside project execution.

Building on this multi-sector platform, ProGrowth has strategically expanded into the mining and minerals sector, covering mineral trading, commercialization, downstream processing, and value-addition initiatives. Its integrated model, combining engineering, execution, trading, and regulatory expertise, aligns closely with Saudi Vision 2030 objectives, particularly in localization, industrial development, and international partnerships.

Through its strong domestic presence and sector-specific expertise, ProGrowth positions itself as a long-term strategic partner for international mining and energy companies seeking to establish and scale operations within Saudi Arabia.

About Denarius Metals

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

Colombia

In Colombia, Denarius is currently producing gold and silver in an early production phase at its fully owned Zancudo Project. The Company is completing construction of a 1,000-tonnes-per-day processing plant, expected to begin producing high-grade gold-silver concentrates by the third quarter of 2026.

The Zancudo Project includes the historic Independencia mine and is located in the Cauca Belt, approximately 30 kilometers southwest of Medellin.

Spain

In Spain, Denarius holds interests in three critical mineral projects:

• A 22% interest in Rio Narcea Recursos, S.L., where it operates the Aguablanca Project, recognized by the EU as a Strategic Project. The project includes a turnkey 5,000-tonnes-per-day processing plant and rights to exploit the historic Aguablanca nickel-copper mine in Monesterio, Extremadura.

• A 100% interest in the Lomero Project, a polymetallic deposit located within the Spanish side of the copper-rich Iberian Pyrite Belt, approximately 88 kilometers southwest of Aguablanca.

• A 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit in Leon Province, Northern Spain.

Source: Official press release issued by Denarius Metals Corp., published on the Company’s official website.