VANCOUVER, BC – August 1, 2025 – Quimbaya Gold Inc. (CSE: QIM, OTCQB: QIMGF, FSE: K05) (“Quimbaya Gold” or the “Company”) announces that Denarius Metals Corp. has decided to terminate the binding Letter of Intent (“LOI”) previously announced on May 7, 2025. The LOI provided for the formation of a 50/50 joint venture to promote the formalization of artisanal mining at Quimbaya’s Tahami Project in the Segovia district, Colombia.
Quimbaya thanks Denarius for the time invested and the consideration of this opportunity. While the parties were unable to reach a definitive agreement, the Company appreciates the constructive dialogue and shared interest in responsible development in one of Colombia’s most prolific gold regions.
Quimbaya retains 100% ownership of the Tahami Project, including the drill-ready Tahami South area. The Company remains focused on implementing its fully funded 2025–2026 exploration program, which includes a 4,000-meter drilling campaign set to commence shortly at Tahami South.
In parallel, Quimbaya will continue to pursue alternative models to support the formalization of artisanal mining in the region—consistent with the Company’s long-standing commitment to responsible mining, inclusive economic participation, and close collaboration with local communities.
“This is a strategically important district, and we remain confident in Tahami’s geological potential and the strength of our position”, said Alexandre P. Boivin, Chief Executive Officer. “Our exploration plans are on track, and we are continuously evaluating opportunities to advance the project responsibly and create long-term value for all stakeholders.”
About Quimbaya Gold Inc.
Quimbaya aims to discover gold deposits in Colombia’s prolific mining districts through exploration and acquisition of mining properties. Led by an experienced team from the mining sector, Quimbaya focuses on three projects in the Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project) regions—all located in the Antioquia Province, Colombia.
Contact Information
Alexandre P. Boivin, President and CEO
📧 apboivin@quimbayagold.com
Sebastian Wahl, VP Corporate Development
📧 swahl@quimbayagold.com
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Forward-Looking Statements
Certain statements in this press release constitute “forward-looking information” within the meaning of applicable Canadian securities laws. All statements that are not historical facts are considered forward-looking. In general—but not exclusively—forward-looking statements and information can be identified by terms such as “intends”, “expects”, or “anticipates”, as well as variations of these terms or phrases indicating that certain actions, events, or results “could”, “should”, “would”, or “will” occur.
Forward-looking statements in this announcement include, but are not limited to, statements regarding the planned use of proceeds from offerings, future corporate development, expected growth or momentum of the gold market—both globally and specifically in Colombia—as well as planned exploration and its potential results, the strength of the project portfolio, the potential discovery and size of mineral deposits, particularly at Tahami South, and the Company’s goals and ambitions.
These statements are based on assumptions and are subject to known and unknown risks, uncertainties, and other factors that may cause Quimbaya’s actual results, performance, or achievements to differ materially from those assumed or expressed in the forward-looking statements. These assumptions include, but are not limited to: that planned exploration and development activities will be carried out as intended; that financing will be available; that permits will be granted in a timely manner; that favorable relationships with local communities will be maintained; that gold prices and exchange rates will remain stable; and that all regulatory requirements will be met.
Although Quimbaya’s management believes that the underlying assumptions and expectations are reasonable, no guarantee can be given as to their accuracy. Therefore, it cannot be ruled out that actual results may differ significantly from the expectations expressed in forward-looking statements.
Readers are cautioned to consider forward-looking information with care. The forward-looking information in this press release reflects Quimbaya’s expectations at the time of publication and may change after this time. Quimbaya assumes no obligation to update such statements on an ongoing basis, unless required by law.
