TORONTO, Sept. 9, 2026 /PRNewswire/ -- Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has been granted a preferential option by the Regional Government of Castilla and Leon in Spain to secure up to 28 new mining grids (the "Toral West Claims") which are located contiguous to the Company's 100%-owned Toral Project. The mining grids cover an area of approximately 800 hectares and, subject to completion of the administrative procedures associated with the award, would bring Denarius Metals' total property holdings in the Leon Mining District to approximately 3,700 hectares.

Serafino Iacono, Executive Chairman of Denarius Metals, commented, "The Toral West Claims extend the Company's property holdings along the known Toral mineralized structure to the northwest by approximately 7 kilometers, including the historic Zn-Pb Antonina Mine, a former mining operation located in the municipality of Sobrado, near Toral de los Vados. Opened in 1935 and closed in 1983, the Antonina Mine was known for the extraction of zinc, lead, copper and mercury. According to available drilling data, the ore grades in the Antonina Mine were similar to those found in our Toral Project. The reopening of the Antonina Mine could accelerate the start of mining operations at the Toral Project, initially providing access to the down-dip extension of the known mineralization below the historic mine and subsequently as a potential alternative access to the deep mineralization at Toral. In the coming months, we will advance the administrative process required to formalize the corresponding investigation permits over the awarded mining grids and will incorporate Antonina and the western extension of the Toral trend into our exploration program being planned for 2027".

Significance of the Toral West Claims

The Toral West Claims represent a strategic addition to the Company's land portfolio in the area (refer to Attachment 1) as they encompass the projected western extension of the Toral deposit. The geological interpretation indicates that the favorable host stratigraphy and mineralized structure extend westward from the existing Toral Project, providing an opportunity to evaluate the potential continuation of the known carbonate-hosted Zn-Pb mineralization over a considerably larger district-scale trend.

The Toral West Claims also include the historic Zn-Pb Antonina and Nieves mines, where previous mining activity demonstrates the presence of Zn-Pb mineralization within the same regional geological environment as the Toral deposit. Historical information suggests that the Antonina area may retain exploration potential for additional mineralization comparable in style to that identified at our Toral Project.

Historical records indicate that the Antonina Mine was operated on an industrial scale by several different companies between 1968 and 1983. Mining development is understood to have extended over approximately 700 meters of strike, with between five and seven underground levels reaching a depth of approximately 300 meters.

Importantly, the historical exploration database for the Antonina-Nieves area includes records of approximately 35 exploration drill holes. These historical drill holes provide evidence that the mineralized system is open to the west and at depth with grades similar to those for Toral, supporting the Company's view that the area warrants systematic modern exploration to determine the potential for additional mineral resources.

The expanded land package provides Denarius Metals with the opportunity to investigate a prospective mineralized corridor extending approximately 7 kilometers west of the existing Toral deposit. The Company believes this substantially enhances the long-term exploration upside of the Toral Project and reinforces its strategy of consolidating district-scale opportunities within the Leon Mining District.

NI 43-101 Mineral Resource Estimate for the Toral Project

Denarius Metals also announced today that it has completed a maiden Mineral Resource estimate (the "2026 MRE") for its 100%-owned Toral Project in Spain prepared by Resource Development Associates ("RDA") in accordance with the Canadian Institute of Mining Metallurgy and Petroleum ("CIM") Definition Standards incorporated by reference in National Instrument 43-101 ("NI 43-101") with an effective date of July 24, 2026.

Notes:

- Mineral Resources are reported in accordance with the CIM Definition Standards (2014) and NI 43-101.

- The independent Qualified Person for the 2026 MRE is Scott E. Wilson, C.P.G., SME-RM, of RDA. Effective date is July 24, 2026.

- 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.

- 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).

- 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).

- 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.

- ZnEq% = Zn% + (Pb% × 0.7482) + (Ag g/t × 0.000248).

- 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).

- 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 a reasonable potential to be recovered and sold.

- 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.

- Bulk density (mineralized): 2.73 + 0.022 × (Pb% + Zn%), capped at 3.50 g/cm³. Waste assigned 2.70 g/cm³.

- Numbers are rounded. Totals may not add due to rounding. All tonnes are metric.

- The mineralized structure remains open along strike to the southeast and at depth.

Following a period of project evaluation through a definitive option agreement with Europa Metals Ltd. ("Europa"), the Company acquired its 100% interest in the Toral Project from Europa in November 2024. On November 30, 2022, following completion of its 2022 drilling campaign, Europa had announced an updated JORC 2012 compliant Mineral Resource (the "Europa MRE") prepared by Addison Mining Services Ltd. ("AMS") with an effective date of November 5, 2022 comprising 7.0 Mt Indicated and 13 Mt Inferred at a 4% ZnEq (PbAg) cut-off. The 2026 MRE announced today by the Company is a new estimate, not a restatement, that has been completed by RDA in accordance with NI 43-101. Differences between the 2026 MRE prepared under NI 43-101 and the previous Europa MRE prepared under JORC 2012 arise from (i) CIM classification under NI 43-101 applied to the current drill spacing and high-nugget geometry (Inferred only), (ii) a change from median-indicator kriging to anisotropic ID³, (iii) an NSR cut-off of US$61/t using updated prices, recoveries and XRT-inclusive process assumptions, and (iv) a revised grade-dependent density assignment. The two Mineral Resource estimates are not directly comparable.

The resource estimation methodology carried out by RDA in the 2026 MRE involved the following procedures:

- Database compilation and verification;

- Construction of three-dimensional vein wireframes for five mineralized domains;

- Definition of resource domains;

- Data conditioning (2.0 m compositing and capping) for statistical analysis;

- Variography;

- Block modeling and anisotropic inverse-distance cubed (ID³) grade interpolation of Zn, Pb and Ag;

- Resource classification and validation;

- Assessment of reasonable prospects for eventual economic extraction and selection of the NSR reporting cut-off; and

- Preparation of the Mineral Resource estimate.

The 2026 MRE is supported by a validated drill-hole database of 127 diamond and reverse-circulation holes (including wedges) totaling 66,783 meters that have assay support, including the validation and infill drilling program carried out by the Company in 2023. Mineralization is hosted in five modeled veins. The estimation dataset comprises 698 assay intervals (688 meters of mineralized length) within those veins, composited to 2.0 m down-hole for a primary estimation set of 417 composites.

Grades of Zn, Pb and Ag in the 2026 MRE were interpolated independently into a 3-D block model constrained by five vein wireframes using anisotropic inverse-distance cubed (ID³) in two passes. Search orientations were taken from the directional variography (principal strike ~285°, steep north dip). Ordinary kriging was tested and rejected: kriging efficiency was persistently negative and slope-of-regression indicated conditional bias under the current drill spacing and high-nugget, narrow-vein geometry. Multiple-indicator kriging (the 2022 AMS method) was considered and not adopted for the same support reasons. 2.0 m length-weighted composites were used. Density is assigned after grade estimation using the linear formula above. Validation included global composite-versus-block statistics, nearest-neighbor comparison, swath plots and visual long-section review.

Qualified Person and Technical Report

The resource evaluation work was completed by Mr. Scott E. Wilson, C.