Drilling hits large zone of mineralisation in new space effectively exterior useful resource

Chibougamau Copper-Gold Challenge, Canada

HIGHLIGHTS:

• Ongoing useful resource development drilling at Cedar Bay has intersected a large zone of mineralisation in what seems to be a brand new parallel zone:
  • 28.9m at 2.5g/t AuEq (1.0g/t Au, 1.0% Cu & 12.0g/t Ag) (CDR-25-16)
• The consequence highlights the robust potential to continue to grow the useful resource base inside the well-endowed Chibougamau District, which has produced 945,000t of copper and three.5Moz of gold ¹
• Comply with-up drilling is about to start out subsequent week to check the extent of this new mineralised zone
• Cygnus’ drilling is at present concentrating on the down plunge continuation of the high-grade gold-dominant mineral useful resource at Cedar Bay, which stands at 0.3Mt at 8.1g/t AuEq for 67koz AuEq (Indicated) and 0.8Mt at 7.8g/t AuEq for 205koz AuEq (Inferred) ²
• First consequence from new drilling marketing campaign at Cedar Bay was 10.6m at 4.1g/t AuEq (3.6g/t Au, 0.3% Cu & 2.8g/t Ag) in CDR-25-11W1 ³ with latest follow-up drill outcomes of:
  • 2.7m at 5.7g/t AuEq (3.2g/t Au, 1.8% Cu & 10.6g/t Ag) (CDR-25-12W2)
  • 1.3m at 9.3g/t AuEq (2.6g/t Au, 4.8% Cu & 13.9g/t Ag) (CDR-25-15)
• Cygnus not too long ago demonstrated vital development on the Chibougamau Challenge by rising the worldwide useful resource by 29%. The present Mineral Useful resource Estimate (‘MRE’) totals 6.4Mt at 3.0% CuEq for 193kt CuEq (M&I) and 8.5Mt at 3.5% CuEq for 295kt CuEq (Inferred) ²
• Cygnus continues to determine drill targets via the continuing assessment of historic information and drill logs utilizing Cygnus’ progressive custom-built AI answer
• Work is ongoing to include the present MRE into an up to date financial research which may also replicate larger metallic costs
• Chibougamau is a premier near-term improvement copper-gold alternative with established infrastructure together with a 900ktpa processing facility, sealed freeway, airport, regional rail infrastructure, and 25 kV hydro energy to the processing web site.

Cygnus Metals Restricted (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) (“Cygnus” or the “Firm”) is happy to announce a possible new mineralised zone intersected exterior of the MRE at its Chibougamau Copper-Gold Challenge in Quebec.

Ongoing drilling concentrating on the down dip extension of the Cedar Bay deposit has intersected a large zone of robust mineralisation simply 200m from floor, which returned:

• 28.9m @ 2.5g/t AuEq (1.0g/t Au, 1.0% Cu & 12.0g/t Ag) (CDR-25-16)

This new mineralised zone sits between the Cedar Bay and Copper Cliff historic mines in an space which has seen little exploration and will characterize an underexplored parallel lode. This encouraging consequence highlights the robust discovery potential of the well-endowed Chibougamau District that has a standout manufacturing report of 945,000t of copper and three.5Moz of gold. ¹ Comply with up drilling is anticipated to start within the coming weeks to check the extent of the mineralisation.

Current drilling has been concentrating on the down plunge continuation of the Cedar Bay deposit, aiming to develop the MRE and make Cedar Bay a key pillar within the potential improvement of the Chibougamau Challenge. The present Cedar Bay Mineral Useful resource is gold-dominant and incorporates 67koz at 8.1g/t AuEq (Indicated) and 205koz at 7.8g/t AuEq (Inferred). ² Drill intersections already included inside the Cedar Bay Mineral Useful resource spotlight the numerous grade and potential at Cedar Bay. These embrace: ⁴

• 15.5m @ 11.0g/t AuEq (8.6g/t Au, 1.7% Cu & 12.3g/t Ag) (CB-27-6A)
• 4.3m @ 19.7g/t AuEq (16.3g/t Au, 2.4% Cu & 13.3g/t Ag) (CB-27-3)
• 4.1m @ 13.9g/t AuEq (12.2g/t Au, 1.2% Cu & 10.0g/t Ag) (CDR-18-02W2)
• 3.7m @ 20.2g/t AuEq (14.0g/t Au, 4.4% Cu & 21.6g/t Ag) (CB-27-9)

Cygnus’s first drill gap concentrating on extensions to this Mineral Useful resource intersected a large gold-rich zone of mineralisation grading: ³

• 10.6m @ 4.1g/t AuEq (3.6g/t Au, 0.3% Cu & 2.8g/t Ag) (CDR-25-11W1)
  • Together with 2.9m @ 6.7g/t AuEq (6.2g/t Au, 0.3% Cu & 6.3g/t Ag)

Subsequent follow-up drilling continues to delineate gold and copper wealthy mineralisation with latest outcomes of:

• 2.7m @ 5.7g/t AuEq (3.2g/t Au, 1.8% Cu & 10.6g/t Ag) (CDR-25-12W2)
• 1.3m @ 9.3g/t AuEq (2.6g/t Au, 4.8% Cu & 13.9g/t Ag) (CDR-25-15)

These outcomes, with the addition of a possible new mineralised zone, spotlight the potential for continued useful resource development throughout Cedar Bay. Drilling is ongoing at Cedar Bay and can proceed till the tip of the yr.

Cygnus is continuous its exploration technique, focussed on useful resource development and useful resource conversion, to drive the Chibougamau Challenge ahead in direction of improvement and ship most returns to shareholders. Within the background, the group continues to course of historic information and generate extra drill targets surrounding the identified high-grade copper-gold mineralisation. This can be a low-risk method which is enjoying a major function in unlocking this prolific historic district.

The Chibougamau space has well-established infrastructure giving the Challenge a major head begin as a copper-gold improvement alternative. This infrastructure features a 900,000tpa processing facility, native mining city, sealed freeway, airport, regional rail infrastructure and 25kV hydro energy to the processing web site. Considerably, the Chibougamau processing facility is the one base metallic processing facility inside a 250km radius which incorporates a variety of different superior copper and gold tasks.

Determine 1: Potential new zone of mineralisation, returning 28.9m @ 2.5g/t AuEq between Cedar Bay ⁴ and Copper Cliff.
All lodes stay open.

This announcement has been authorised for launch by the Board of Administrators of Cygnus.

About Cygnus Metals

Cygnus Metals Restricted (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is a diversified essential minerals exploration and improvement firm with tasks in Quebec, Canada and Western Australia. The Firm is devoted to advancing its Chibougamau Copper-Gold Challenge in Quebec with an aggressive exploration program to drive useful resource development and develop a hub-and-spoke operation mannequin with its centralised processing facility. As well as, Cygnus has high quality lithium belongings with vital exploration upside within the world-class James Bay district in Quebec, and REE and base metallic tasks in Western Australia. The Cygnus group has a confirmed observe report of turning exploration success into manufacturing enterprises and creating shareholder worth.

Ahead Wanting Statements

This launch could include sure forward-looking statements and projections concerning estimates, assets and reserves; deliberate manufacturing and working prices profiles; deliberate capital necessities; and deliberate methods and company goals. Such ahead wanting statements/projections are estimates for dialogue functions solely and shouldn’t be relied upon. They don’t seem to be ensures of future efficiency and contain identified and unknown dangers, uncertainties and different elements, a lot of that are past Cygnus’ management. Cygnus makes no representations and supplies no warranties regarding the accuracy of the projections and disclaims any obligation to replace or revise any forward-looking statements/projections primarily based on new info, future occasions or in any other case besides to the extent required by relevant legal guidelines. Whereas the knowledge contained on this launch has been ready in good religion, neither Cygnus or any of its administrators, officers, brokers, workers or advisors give any illustration or guarantee, categorical or implied, as to the equity, accuracy, completeness or correctness of the knowledge, opinions and conclusions contained on this launch. Accordingly, to the utmost extent permitted by regulation, none of Cygnus, its administrators, workers or brokers, advisers, nor another individual accepts any legal responsibility whether or not direct or oblique, categorical or restricted, contractual, tortuous, statutory or in any other case, in respect of the accuracy or completeness of the knowledge or for any of the opinions contained on this launch or for any errors, omissions or misstatements or for any loss, howsoever arising, from the usage of this launch.

Finish Notes

1. Historic manufacturing statistics for the Chibougamau space are recorded in Leclerc. F, Harris. L. B, Bedard. J. H, Van Breeman. O and Goulet. N. 2012, Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization within the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada. Society of Financial Geologists, Inc. Financial Geology, v. 107, pp. 963–989.
2. Consult with Cygnus’ ASX announcement dated 17 September 2025 and subsequent technical report dated 31 October 2025 titled “NI 43-101 Technical Report Chibougamau Hub and Spoke Advanced, Québec, Canada” ready in accordance with Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Initiatives (“NI 43-101”) and the Joint Ore Reserves Committee (JORC) Code (2012 Version).
3. Consult with Cygnus’ ASX announcement dated 30 October 2025.
4. Consult with Cygnus’ ASX announcement dated 25 March 2025.

Certified Individuals and Compliance Statements

The scientific and technical info on this announcement has been reviewed and permitted by Mr Louis Beaupre, the Quebec Exploration Supervisor of Cygnus, a “certified individual” as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives. The Exploration Outcomes disclosed on this announcement are additionally primarily based on and pretty characterize info and supporting documentation compiled by Mr Beaupre. Mr Beaupre holds choices and efficiency rights in Cygnus. Mr Beaupre is a member of the Ordre des ingenieurs du Quebec (P. Eng.), a Registered Abroad Skilled Organisation as outlined within the ASX Itemizing Guidelines, and has ample expertise which is related to the model of mineralisation and kind of deposits into consideration and to the exercise which has been undertaken to qualify as a Competent Individual as outlined within the 2012 Version of the “Australasian Code for Reporting of Exploration Outcomes, Mineral Assets and Ore Reserves”. Mr Beaupre consents to the inclusion on this launch of the issues primarily based on the knowledge within the kind and context by which they seem.

The data on this launch that pertains to the Mineral Useful resource Estimate for the Chibougamau Challenge reported in accordance with the JORC Code 2012 and NI 43-101 was launched by Cygnus in an announcement titled ‘Main Useful resource Replace’ launched to the ASX on 17 September 2025. Particulars of the Mineral Useful resource Estimate are included in Appendix B. The data on this announcement that pertains to beforehand reported Exploration Outcomes on the Firm’s tasks has been beforehand launched by Cygnus in ASX Bulletins as famous within the textual content and Finish Notes.

Particular person grades for the metals included within the metallic equivalents calculations for the Mineral Useful resource Estimate, in addition to the worth assumptions, metallurgical recoveries and metallic equal calculations themselves, are in Appendix B of this launch. Particular person grades for the metals included within the metallic equivalents calculation for the exploration outcomes are within the unique market bulletins. Steel equivalents for the exploration outcomes on this announcement have been calculated at a copper value of US$9,370/tonne, gold value of US$2,400/ozand silver value of US$30/oz, with copper equivalents calculated primarily based on the method CuEq(%) = Cu(%) + (Au(g/t) x 0.73681)+(Ag(g/t) x 0.00921) and gold equivalents are calculated primarily based on the method AuEq(g/t) = Au(g/t) + (Cu(%) x 1.35719) + (Ag(g/t) x 0.0125). Metallurgical restoration elements have been utilized to the copper equivalents calculations for the exploration outcomes, with copper metallurgical restoration assumed at 95% and gold metallurgical restoration assumed at 85% primarily based upon historic manufacturing on the Chibougamau Processing Facility, and the metallurgical outcomes contained in Cygnus’ announcement dated 28 January 2025. It’s the Firm’s view that each one parts within the copper and gold equal calculations have an affordable potential to be recovered and offered.

Cygnus will not be conscious of any new info or information that materially impacts the knowledge in these bulletins, and within the case of estimates of Mineral Assets, that each one materials assumptions and technical parameters underpinning the estimates within the related market announcement proceed to use and haven’t materially modified. The Firm confirms that the shape and context by which the Competent Individuals’ findings are introduced haven’t been materially modified from the unique market bulletins.

Neither TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.

APPENDIX A – Vital Intersections from Exploration Drilling

Coordinates given in UTM NAD83 (Zone 18). Intercept lengths could not add up attributable to rounding to the suitable reporting precision. At Cedar Bay vital intersections reported above 2g/t AuEq over widths of better than 1m. True width estimated to be between 50-90% of downhole thickness.

APPENDIX B – Mineral Useful resource Estimate for the Chibougamau Challenge as at 17 September 2025

Notes:

1. Cygnus’ Mineral Useful resource Estimate for the Chibougamau Copper-Gold venture, incorporating the Nook Bay, Devlin, Joe Mann, Cedar Bay, and Golden Eye deposits, is reported in accordance with the JORC Code and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) (2014) definitions in NI 43-101.
2. Mineral Assets are estimated utilizing a long-term copper value of US$9,370/t, gold value of US$2,400/oz, and silver value of US$30/oz, and a US$/C$ change fee of 1:1.35.
3. Mineral Assets are estimated at a CuEq cut-off grade of 1.2% for Nook Bay and 1.5% CuEq for Devlin. A cut-off grade of 1.8 g/t AuEq was used for Cedar Bay and Golden Eye; and a couple of.0 g/t AuEq for Joe Mann.
4. Nook Bay bulk density varies from 2.85 tonnes per cubic metre (t/m ³ ) to three.02t/m ³ for the estimation domains and a couple of.0 t/m ³ for the overburden. At Devlin, bulk density varies from 2.85 t/m ³ to 2.90 t/m ³ . Cedar Bay, Golden Eye, and Joe Mann use a bulk density of two.90 t/m³ for the estimation domains.
5. Assumed metallurgical recoveries are as follows: Nook Bay copper is 93%, gold is 78%, and silver is 80%; Devlin copper is 96%, gold is 73%, and silver is 80%; Joe Mann copper is 95%, gold is 84%, and silver is 80%; and Cedar Bay and Golden Eye copper is 91%, gold is 87%, and silver is 80%.
6. Assumptions for CuEq and AuEq calculations (set out under) are as follows: Particular person metallic grades are set out within the desk. Commodity costs used: copper value of US$9,370/t, gold value of US$2,400/ozand silver value of US$30/oz. Assumed metallurgical restoration elements: set out above. It’s the Firm’s view that each one parts within the metallic equal calculations have an affordable potential to be recovered and offered.
7. CuEq Calculations are as follows: (A) Nook Bay = grade Cu (%) + 0.68919 * grade Au (g/t) + 0.00884 * grade Ag (g/t) ; (B) Devlin = grade Cu (%) + 0.62517 * grade Au (g/t) + 0.00862 * grade Ag (g/t); (C) Joe Mann = grade Cu (%) + 0.72774* grade Au (g/t); and (D) Golden Eye and Cedar Bay = grade Cu (%) + 0.78730* grade Au (g/t) + 0.00905 * grade Ag (g/t).
8. AuEq Calculations are as follows: (A) Nook Bay = grade Au (g/t) + 1.45097* grade Cu(%)+0.01282* grade Ag (g/t); (B) Devlin = grade Au (g/t) + 1.59957* grade Cu(%)+0.01379* grade Ag (g/t); (C) Joe Mann = grade Au (g/t) + 1.37411* grade Cu (%); and (D) Cedar Bay and Golden Eye = grade Au (g/t) + 1.27016 * grade Cu (%) + 0.01149 * grade Ag (g/t).
9. Wireframes have been constructed utilizing an approximate minimal thickness of two m at Nook Bay, 1.8 m at Devlin, 1.2 m at Joe Mann, and 1.5 m at Cedar Bay and Golden Eye.
10. Mineral Assets are constrained by underground reporting shapes.
11. Mineral Assets that aren’t Mineral Reserves should not have demonstrated financial viability.
12. Totals could fluctuate attributable to rounding.

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