Denarius Metals Releases Documentary Featuring the Zancudo Project's Rich Mining History, Culture and Community Acceptance in Advance of Re-Starting Operations in 2024

Toronto, September 20, 2023 - Denarius Metals Corp. (TSXV: DSLV) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has released a short documentary entitled Volver ("Coming Back"), directed by Colombian journalist Yamid Ahmad Serna, which profiles the rich history, culture and community acceptance of the Company's Zancudo Project located in the Titiribí Mining District of Colombia, about 30 km SW of Medellin. Volver can be found on the Company's website at www.denariusmetals.com and its YouTube channel here.

Mining in the Titiribi District dates back over 250 years. The Sociedad del Zancudo mining company was created in 1848 and was regarded as one of Colombia's most important companies of the 19th century. In 1883, the Sociedad de Zancudo company created its own bank, issuing banknotes to pay the bills and expenses of miners, contractors, and suppliers. Mining was the largest employer in the municipality until 1945, when it was no longer profitable and many people left the area to find work in nearby Medellin. The mine at the Zancudo Project, called Independencia, closed in 1945 and saw little activity until 2010 when it was acquired by Gran Colombia Gold. From 2011 through 2022, Gran Colombia Gold and IAMGOLD drilled approximately 40,000 meters at the Zancudo Project. In 2021, the Company acquired 100% ownership of the Zancudo Project from Gran Colombia Gold. The Company is currently advancing construction activities at the Zancudo Project, rejuvenating the Independencia mine to re-start operations in 2024 to generate gold and silver production from the recently announced Inferred Mineral Resource estimate of 4.1 million tonnes at a gold equivalent grade of 8.1 g/t representing 1,060,000 gold equivalent ounces.

Volver is narrated by residents, community leaders and members of the Denarius Metals' local team, exploring the anticipated revitalization and positive impact of mining coming back to Titiribi at Independencia. Through narratives and archival material, Volver provides a commentary on the social and local economic benefits that both the Company and the community expect to realize through mutual initiatives focused on health, education, employment and entrepreneurship as well as developments in local infrastructure to be generated by the Zancudo Project.

Credits for the documentary include: Yamid Ahmad Serna, Director; Juan Pablo Ríos, Filmmaker and Screenwriter; María Helena Pérez, Producer; Nelson Abril, Director of Photography and Camera Operator; Alejandro Escobar, Sound Recording; Juan David Vásquez, Camera Assistant; Alejandro Portocarrero, Drone Operator; Futuro Digital, Translation and Subtitles; and, Marlon Cortés, Editing.

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About Denarius Metals

Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts, with its principal focus on the Lomero Project in Spain. The Company signed a definitive option agreement with Europa Metals Ltd. in November 2022 pursuant to which Europa has granted Denarius Metals two options to acquire up to an 80% ownership interest in the Toral Zn-Pb-Ag Project, Leon Province, Northern Spain. The Company's 100%-owned Zancudo Project in Colombia provides an opportunity to develop near-term production and cash flow through local contract miners and long-term growth through exploration.

Additional information on Denarius can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Statement on Forward-Looking Information

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.

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated April 21, 2023 which is available for view on SEDAR at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this press release and Denarius disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:

Michael Davies
Chief Financial Officer
(416) 360-4653
investors@denariusmetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/181128