Cygnus Set for Growth with Advanced Copper Project in Tier-One Location

Report Highlights:

• Cygnus Metals Ltd. (ASX: CYG; TSXV: CY5) successfully completed its merger with TSXV-listed Doré Copper on December 31, 2024, establishing itself as a dual-listed critical minerals exploration and development company focused on Quebec’s resource-rich regions. This merger has significantly strengthened the company’s portfolio, bringing together two core assets: the Chibougamau Copper and Gold Project and the James Bay Lithium Projects. With a robust financial position of A$14.9 million at the end of the quarter, Cygnus is well-positioned to execute its upcoming exploration and resource expansion initiatives, further reinforcing its growth trajectory​.
• As part of its aggressive resource expansion strategy, Cygnus commenced exploration activities at the Chibougamau Project, aiming to enhance its already high-grade copper and gold resource. A key highlight of the initial drilling campaign was an outstanding copper intersection of up to 9.1% Cu from the first drill hole outside the Corner Bay resource, demonstrating strong potential for further resource expansion. The project benefits from significant infrastructure advantages, including a 900,000-ton-per-annum processing facility—the only base metals milling infrastructure within a 250-kilometer radius—and access to Quebec’s cost-effective hydroelectric power, positioning it well for future development​.
• In addition to its copper exploration, Cygnus has been actively progressing its lithium assets in the world-class James Bay region of Quebec, with an airborne gravity geophysical survey completed at the Pontax Lithium Project to map mafic units beneath cover and aid future drill targeting. Meanwhile, in Australia, the company is preparing for follow-up drilling at the Snake Rock Cu-Au prospect, where previous exploration yielded promising results. This drilling program, scheduled to begin in the first quarter of 2025, is co-funded under the Western Australian Exploration Incentive Scheme, further demonstrating Cygnus’ commitment to advancing its diversified portfolio across key jurisdictions​.