Cygnus Metals Ltd.

Presentation Highlights:

• Cygnus Metals Ltd. (ASX: CY5) is strategically focused on the development of its Chibougamau Copper-Gold Project in Quebec, which contains a high-grade resource base of significant copper and gold assets, with past production totaling 945,000 tons of copper and 3.5 million ounces of gold. The Chibougamau project benefits from strong infrastructure, including a 900,000 tons per annum processing facility, which significantly reduces the capital costs associated with restarting production and enhances its future potential.
• The company is actively progressing with an aggressive exploration strategy, deploying two drill rigs on-site to target extensions of existing resources and explore new brownfield opportunities, while leveraging modern exploration techniques such as DHEM and surface geophysics to identify and evaluate new mineralized zones. These efforts are focused on expanding the resource base in the historically productive Chibougamau region, which has seen limited modern exploration despite its high mineral potential.
• Cygnus is fully funded and supported by a strong shareholder base, allowing the company to continue executing its exploration and development strategy with confidence. The company is advancing key projects such as Corner Bay, progressing with feasibility studies, environmental permitting, and critical infrastructure development, all aimed at unlocking significant shareholder value and capitalizing on growth opportunities in the coming years.

Release Highlights:

• Cygnus Metals Ltd. (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) is pleased to announce that its common shares have qualified to trade on the OTCQB® Venture Market (“OTCQB”), a U.S. marketplace operated by OTC Markets Group Inc. (the “OTC”),
• Trading commenced on February 14 under the symbol “CYGGF”. The common shares of the Company will continue to trade on the ASX and TSX Venture Exchange.
• Trading of Cygnus shares on the OTC imposes no additional compliance or regulatory standards over and above the Company’s existing compliance requirements as an Australian incorporated entity listed on the Australian Securities Exchange and TSX Venture Exchange. OTC trading is non-dilutive to existing Cygnus shareholders, as no new shares are being issued to enable trading on the OTC.

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​.

Release Highlights:

• Cygnus Metals Ltd. (ASX: CY5; TSXV: CYG) has announced clarification statements following its press release on January 9th, 2025, to address queries from the Australian Securities Exchange (ASX) regarding copper equivalent (CuEq) calculations for the Chibougamau Copper-Gold Project. Cygnus specifies that these calculations are now based on updated pricing assumptions of USD 8,750 per ton for copper and USD 2,350 per ounce for gold, with metallurgical recovery rates of 95% for copper and 85% for gold. These figures are supported by the recent historical production data and test work.
• New locked-cycle metallurgical test results from the Corner Bay deposit have demonstrated exceptional copper recoveries of up to 98.2% and concentrate grades as high as 29.6%, underscoring the project’s ability to produce a high-grade, low-impurity copper concentrate. The copper deposits of the Chibougamau Copper-Gold Project in Corney Bay in particular are commercially attractive and in-demand for electrification across a growing number of global industries, further solidifying drilling efforts for years to come.
• The company further clarified the references to exploration data in its previous release, providing detailed information on historical geophysical surveys, including on its 2007 Fixed Loop Electromagnetic (FLEM) survey and on its 2021 Downhole Electromagnetic (DHEM) survey. These surveys identified untested conductors south of the Corner Bay deposit, which are now prioritized as key mining targets with strong potential, aligning with Cygnus’ strategy on brownfield exploration and mineral resource growth in the region.

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.

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.