Serafino Iacono, Executive Chairman and Interim CEO of Denarius, commented, “We are excited to be commencing the diamond drill program on the Lomero-Poyatos Project, which allows us to start testing the existing deposit which has a historical estimate in the inferred category of 20.9 Mt of 3.1 g/t gold, 62 g/t silver, 0.9% copper, 0.9% lead and 3.1% zinc. The Lomero-Poyatos deposit was not cut off either down dip or along strike, indicating the potential for significant growth. This is an important step forward for Denarius, with more to follow to unlock long-term value for our shareholders".

Two rigs provided by Explomin Perforaciones UE will initially run the drilling program. The Company has established COVID-19 safety protocols for ensuring a secure work environment for its employees and contractors. Please refer to the news release dated July 26, 2021 for further details of this drilling program and the historical mineral resource estimate for the Lomero-Poyatos Project.

Qualified Persons Review

The scientific and technical information in this news release has been reviewed and approved by Ben Parsons, Principal Consultant (Resource Geology) with SRK Consulting (US) Inc, a “Qualified Person” as defined under National Instrument 43-101.

About Denarius

Denarius is a Canadian-listed public company engaged in the acquisition, exploration, development and eventual operation of mining projects in high-grade districts, with its principal focus on the Lomero-Poyatos Project in Spain and the Guia Antigua Project in Colombia. The Company also owns the Zancudo Project in Colombia which is currently being explored by IAMGOLD Corp. pursuant to an option agreement for the exploration and potential purchase of an interest in the project.

Additional information on Denarius can be found on its website at www.denariussilver.com and by reviewing its profile on SEDAR at www.sedar.com.

Neither the 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.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company’s future operations and business prospects, listing of the Warrants and use of proceeds from the Financing are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.