Dore Copper and Cygnus Metals Enter into Arrangement Agreement to Create Strategic Critical Minerals Company

Release Highlights:

• Doré Copper Mining Corp. (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that it has entered into a definitive arrangement agreement on October 14, 2024 with Cygnus Metals Limited (ASX: CY5) to combine their respective businesses in a merger of equals transaction, pursuant to which Cygnus has agreed to acquire 100% of the issued and outstanding common shares of Doré Copper by way of a court approved plan of arrangement under the Canada Business Corporation Act.
• This merger will create a Québec-focused critical minerals explorer and developer with high-grade copper and lithium resources. The merger of equals will bring together proven members of management with strong capital markets experience, project development, mine building and operational expertise and a proven track record of mineral discoveries.
• Cygnus and Doré Copper have agreed to a merger where Doré Copper shareholders will receive 1.8297 Cygnus shares per Doré Copper share, giving Doré Copper an implied equity value of CAD 24 million, with Cygnus raising up to AUD 11 million to advance projects, and the combined company benefitting from geographic synergies, a strong management team, and a dual ASX and TSXV listing.