Cygnus’ First Drill Hole Returns Up to 9.1% Cu Outside Resource

Release Highlights:

• Cygnus Metals Ltd. (ASX: CY5; TSXV: CYG) is pleased to report outstanding intersection of high-grade drilling results of 7.3 meters at 4.2% copper, 0.3 g/t gold, and 16.6 g/t silver, including 2.5 meters at 9.1% copper, 0.5 g/t gold, and 31.4 g/t silver, from a potential new lode located 250 meters east of the main Corner Bay deposit, which has Indicated Resources of 2.7 million tons at 2.7% copper and Inferred Resources of 5.9 million tons at 3.4% copper.
• The results have been discovered within a large off-hole electromagnetic anomaly measuring 530m x 460m, highlighting the potential for multiple sub-parallel lodes at Corner Bay similar to deposits in the region, and the ongoing drilling program with two diamond drill rigs aims to expand resources and explore untested EM targets identified nearby.
• The Chibougamau Project is situated in a historic mining district with over 945,000 tons of copper and 3.5 million ounces of gold produced historically and benefits from excellent infrastructure, including a 900,000 tons per annum processing facility, access to hydro power, and proximity to the local mining town, with Cygnus focused on rapidly growing resources and advancing toward production.