Cygnus Increases Highly Prospective Under-Explored Ground Position by 50%

Release Highlights:

• Cygnus Metals Ltd (ASX: CY5; TSXV: CYG) has secured additional ground next to its Chibougamau Copper-Gold Project, increasing its total and holding to 282 sq km (69,683 acres). The newly staked areas add to a highly prospective land position which has seen limited modern exploration in the past 20 years. Chibougamau Copper-Gold Project has a Measured and Indicated Mineral Resource of 3.6Mt at 3.0%. CuEq and an Inferred Mineral Resource of 7.2Mt at 3.8% CuEq.
• The Chibougamau district is a world-class mineral terrane with strong potential for additional discovery; Historical production totals more than 945,000t of copper and 3.5Moz of gold across 16 former producing mines. Two diamond drill rigs are set to start this week, targeting both resource growth and priority brownfield exploration targets, underpinning strong news flow.
• Drilling results are expected imminently from a targeted exploration program completed prior to Cygnus’ merger with Doré Copper Mining Corp. The Chibougamau Copper-Gold Project includes a 900,000tpa processing facility – the only milling infrastructure within a 250km radius. The district also has excellent infrastructure with a local mining town, a modern mining workforce training centre, sealed highway, airport, regional rail infrastructure and 25kV hydro power to the processing site.