Denarius announces strategic investment in Copper Giant Resources in Colombia

TORONTO, CANADA (By Denarius Metals, 6.Aug.2026, Words: 978) — Denarius Metals Corp. entered into a binding term sheet with Copper Giant Resources Corp. under which the company will make a strategic equity investment in Copper Giant through a non-brokered private placement (the “Copper Giant financing”).

The Copper Giant financing will generate aggregate gross proceeds of approximately CA$31mn, with a lead order from the company of CA$28.8mn to acquire a 15.6% equity interest in Copper Giant on closing. Frank Giustra and Ian Harris, president and CEO of Copper Giant, are also participating in the Copper Giant Financing.

Copper Giant also concurrently announced an offtake agreement with Trafigura Pte Ltd.

Serafino Iacono, executive chairman of Denarius Metals, commented, “We know Colombia and we know what it takes to move a project from resource to operation. Copper Giant’s Mocoa Project stands out for its scale, its copper-molybdenum endowment and its potential importance to Colombia’s mining future. We are investing as a long-term partner because we believe Copper Giant has the asset and the team to advance it responsibly.”

Ian Harris, president and CEO of Copper Giant, commented, “This transaction changes the trajectory of Mocoa. Denarius Metals’ investment gives us the capital to move through the PEA and accelerate the next phase toward a construction decision, while Trafigura provides a long-term route to global markets. Together, these partners bring Colombian operating experience, market reach and long-term alignment at a pivotal moment for copper and for Colombia.”

Edmundo Vidal, director Latin America of Trafigura, added, “Colombia has the geological conditions and the opportunity to become an important copper producer. We are pleased to see projects like Mocoa develop, especially given the country’s recognition of copper as a strategic mineral. Our long-term offtake at Mocoa reflects both our confidence in the project, and our strategy of working with producers to bring new supply to customers around the world.”

Highlights

World class deposit: Copper Giant’s current focus is the Mocoa copper-molybdenum deposit located in the Putumayo department of southern Colombia. With an inferred mineral resource of 1.1 billion tonnes at 0.51% CuEq* (0.31% Cu and 0.039% Mo), Mocoa hosts one of the largest undeveloped copper-molybdenum deposits in the Americas containing 7.6 billion pounds of copper and 1.0 billion pounds of molybdenum. The Mocoa project sits within a larger porphyry copper belt with significant district-scale exploration potential. The deposit extends over 2km in strike length and remains open in multiple directions. Recent drilling has identified new high-grade zones. The project benefits from excellent infrastructure including road access, nearby communities and proximity to power lines.
Strategic investment: Denarius Metals has agreed to subscribe for 40,000,000 common shares at CA$0.72 per share for a total investment of CA$28.8mn. Following closing of the Copper Giant Financing, the company will have a 15.6% equity interest in Copper Giant. Federico Restrepo-Solano, CEO of the company, will be appointed to Copper Giant’s advisory board.
Shareholder alignment: Denarius Metals, Frank Giustra and Ian Harris have each agreed to enter into two-year lock-up arrangements in connection with the Copper Giant financing.
Use of proceeds: Proceeds of the Copper Giant financing will be directed at the next phase of work at the Mocoa project, beyond the Preliminary Economic Assessment currently underway and toward a construction decision, including resource conversion drilling, district-scale exploration, and the geotechnical, hydrogeological and environmental programs required to support project advancement, together with general corporate purposes.
External validation through long-term offtake agreement: Concurrent with the Copper Giant financing, Copper Giant has announced that it will grant Trafigura the right and obligation to purchase 20% of the copper concentrate and 20% of the molybdenum concentrate produced from the Mocoa Project for a period of ten years from the commencement of commercial production. The long-term offtake agreement was entered into by Copper Giant and Trafigura on arm’s-length market terms, subject to minimum delivered volumes over the period, failing which Trafigura may elect to extend the term.

It is expected that closing of the Copper Giant financing will occur on or about 21 Aug. 2026. The common shares acquired by the company will be subject to a four-month-and-one-day hold period. On closing, Denarius Metals will become a new insider of Copper Giant pursuant to Canadian securities laws and will be subject to all insider filings.

Completion of the Copper Giant Financing is subject to the execution of definitive documentation, the respective internal and corporate approvals of each party, including any Board or shareholder approval, if required, and the approval of the TSX Venture Exchange. There can be no assurance that the Copper Giant Financing will be completed as proposed or at all.

Denarius Metals Private Placement

Denarius Metals also announced it will be completing a concurrent non-brokered private placement (the “Denarius financing”) with Trafigura, raising approximately CA$28.8mn in cash to be used by the company to fund its strategic investment in Copper Giant.

Pursuant to the Denarius financing, Trafigura will acquire 67,000,000 common shares of the company at CA$0.43 per share and 12,500,000 common share purchase warrants with an exercise price of CA$0.60 per share expiring three years after closing of the Denarius Financing.

The common shares and warrants acquired by Trafigura in the Denarius financing will be subject to a four-month-and-one-day hold period. On closing, Trafigura will own approximately 14.9% of the company’s issued and outstanding common shares, becoming a new insider of the company pursuant to Canadian securities laws and will be subject to all insider filings.

It is expected that closing of the Denarius financing will occur on or about 21 Aug. 2026. Completion of the Denarius financing is subject to the execution of definitive documentation, the respective internal and corporate approvals of each party, including any board or shareholder approval, if required, and the approval of the Cboe Canada Exchange. There can be no assurance that the Denarius financing will be completed as proposed or at all.

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Highlights

Denarius Metals Private Placement

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