Denarius Metals Announces Exercise of 3,000,000 Warrants at CA$0.60 per Share by Serafino Iacono, Executive Chairman & CEO

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Toronto, Ontario--(Newsfile Corp. - September 24, 2024) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or "the Company") announced today that Mr. Serafino Iacono, Executive Chairman and CEO, has exercised a total of 3,000,000 common share purchase warrants at an exercise price of CA$0.60 per share for gross cash proceeds to the Company of CA$1.8 million.

Mr. Iacono commented, "Denarius Metals is well positioned with a portfolio of high-grade mining projects in Spain and Colombia that gives us exposure to near term production of sought after critical minerals and precious metals. My exercise of the warrants today reaffirms my confidence in Denarius Metals as we continue to execute our business plan to bring our Zancudo and Aguablanca Projects into production within the next 6 to 12 months to create an internal source of cash flow to support our longer term growth strategy."

As a result of the warrants exercise, Mr. Iacono beneficially owns and controls 15,899,083 common shares (which represents approximately 20.5% of the Company's issued and outstanding common shares), 900,000 stock options, 2,969,014 unlisted warrants, CA$1,864,000 senior unsecured convertible debentures due 2028 and CA$6,300,000 unsecured convertible debentures due 2029. Prior to the warrants exercise, Mr. Iacono beneficially owned and controlled 12,899,083 common shares (which represented approximately 17.3% of the Company's issued and outstanding common shares), 900,000 stock options, 2,969,014 unlisted warrants, CA$1,864,000 senior unsecured convertible debentures due 2028 and CA$6,300,000 unsecured convertible debentures due 2029. Assuming full exercise of his stock options, unlisted warrants and senior unsecured convertible debentures, Mr. Iacono would have control and direction over 34,410,319 common shares, representing 35.8% of the then outstanding common shares on a partially diluted basis.

Mr. Iacono has acquired the securities for investment purposes only, and depending on market and other conditions, may from time to time in the future increase or decrease his ownership, control or direction over securities the Company, through market transactions, private agreements, or otherwise.

At the Company's Annual General and Special Meeting of Shareholders held on June 5, 2024, approval was received for an ordinary resolution approving the creation of Serafino Iacono as a new Control Person (as such term is defined in the policies of Cboe Canada) of the Company, as more particularly described in the Management Information Circular of the Company dated May 3, 2024.