Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 5 non-independent directors. Lead Independent Non Executive Director Kevin Tomlinson was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Apr 17
Cygnus Metals Limited Reports Positive Assay Results at Golden Eye Deposit Cygnus Metals Limited announced high-grade results from drilling at the Golden Eye deposit within its Chibougamau Copper-Gold Project in Quebec. Infill drilling at Golden Eye has returned high-grade gold intervals of up to 105.5g/t AuEq over 1.0m, alongside copper grades of up to 11.9% Cu over 0.8m. Results reported reconcile well against the block model and confirm continuity of gold mineralisation; these include: 5.9m at 28.8g/t AuEq (24.8g/t Au, 2.7% Cu & 31.5g/t Ag) (LDR-26-12A), including 1.0m at 105.5g/t AuEq (102.9g/t Au, 1.4% Cu & 53.0g/t Ag); 7.7m at 4.0g/t AuEq (2.7g/t Au, 0.8% Cu & 8.2g/t Ag) (LDR-26-12A); 11.5m at 4.3g/t AuEq (2.5g/t Au, 1.1% Cu & 26.1g/t Ag) (LDR-26-13), including 0.8m at 31.2g/t AuEq (13.3g/t Au, 11.9% Cu & 141.8g/t Ag); 6.7m at 5.9g/t AuEq (4.4g/t Au, 1.0% Cu & 9g/t Ag) (LDR-26-14), including 2.0m at 13.8g/t AuEq (10.3g/t Au, 2.4% Cu & 21.0g/t Ag). These results highlight the strong potential to grow the Indicated Resource as well as the scope for further extensions. Golden Eye Mineral Resource stands at 0.5Mt at 5.6g/t AuEq for 91koz AuEq (Indicated) and 1.2Mt at 4.6g/t AuEq for 182koz AuEq (Inferred). There remains a number of assay results pending following finalisation of exploration activity at Golden Eye on 8 April 2026, with around 5,632m of drilling completed from the engineered ice pad. Exploration continues across multiple targets with a detailed Induced Polarisation (‘IP’) survey at the Joe Mann property almost finished. This program aims to help generate walk up drill targets in a highly sought-after gold district. Recent drilling has been targeting both resource conversion and extension, looking to expand the current Mineral Resource. The latest results from infill drilling include significant high-grade intersections of up to 105.5g/t AuEq over 1.0m. These high-grade gold intercepts are complemented by impressive copper grades of up to 11.9% over 0.8m, plus silver grades of up to 142g/t over 0.8m. Significant results include: 5.9m at 28.8g/t AuEq (24.8g/t Au, 2.7% Cu & 31.5g/t Ag) (LDR-26-12A), including 1.0m at 105.5g/t AuEq (102.9g/t Au, 1.4% Cu & 53.0g/t Ag); 7.7m at 4.0g/t AuEq (2.7g/t Au, 0.8% Cu & 8.2g/t Ag) (LDR-26-12A); 11.5m at 4.3g/t AuEq (2.5g/t Au, 1.1% Cu & 26.1g/t Ag) (LDR-26-13), including 0.8m at 31.2g/t AuEq (13.3g/t Au, 11.9% Cu & 141.8g/t Ag); 6.7m at 5.9g/t AuEq (4.4g/t Au, 1.0% Cu & 9g/t Ag) (LDR-26-14), including 2.0m at 13.8g/t AuEq (10.3g/t Au, 2.4% Cu & 21.0g/t Ag). The infill drilling reconciles well against the block model and further confirms the strong continuity of the mineralisation to a 50m spacing. Results from the recent drilling will be used to update the Mineral Resource and convert more resources to the Indicated category. The Golden Eye Mineral Resource currently contains 0.5Mt at 5.6g/t AuEq for 91koz AuEq (Indicated) and 1.2Mt at 4.6g/t AuEq for 182koz AuEq (Inferred). The drill program at Golden Eye has now concluded, although two rigs are expected to continue drilling over the next quarter at other targets in the project portfolio. The strategy remains focussed on resource growth and resource conversion to drive the Chibougamau Project forward towards development and deliver maximum returns to shareholders. Golden Eye is an excellent example of the value generated through ongoing compilation work which is helping to unlock this historic district, enabling the Company to continue to build upon the existing high-grade copper-gold resources with low-risk brownfield exploration. The team is continuing to unlock the region with more targets to be tested from the compilation pipeline including the Joe Mann, Copper Rand and Gwillim areas. The Chibougamau area has well-established infrastructure giving the Project a significant head start as a copper-gold development opportunity. This infrastructure includes a 900,000tpa processing facility, local mining town, sealed highway, airport, regional rail infrastructure and 25kV hydro power to the processing site. Significantly, the Chibougamau processing facility is the only base metal processing facility within a 250km radius which includes a number of other advanced copper and gold projects. Coordinates given in UTM NAD83 (Zone 18). Intercept lengths may not add up due to rounding to the appropriate reporting precision. At Golden Eye significant intersections reported above 2g/t AuEq over widths of greater than 1m. True width estimated to be between 70-90% of downhole thickness. Tillkännagivande • Mar 02
Cygnus Metals Limited, Annual General Meeting, May 01, 2026 Cygnus Metals Limited, Annual General Meeting, May 01, 2026. Location: west perth wa Australia Tillkännagivande • Feb 23
Cygnus Targets Resource Growth with Start of New Drilling and Geophysics Programs Cygnus sets up value drivers for 2026 with exploration and resource growth a high priority. At Cedar Bay, Downhole Electromagnetics ('DHEM') is in progress to identify follow-up targets from recent intersections such as: 28.9m at 2.5g/t AuEq (1.0g/t Au, 1.0% Cu & 12.0g/t Ag) (CDR-25-16). This is the first time DHEM is being used at Cedar Bay in over 20 years. Drilling has started at Golden Eye to test extensions below the current resource, which stands at 0.5Mt at 5.6g/t AuEq for 91koz AuEq (Indicated) and 1.2Mt at 4.6g/t Au Eq for 182koz AuEq (Inferred)2. At Joe Mann, a detailed Induced Polarisation ('IP') survey is underway to identify walk-up drill targets analogous to IAMGOLD's Nelligan Complex deposits which contain 4.3Moz Au (M&I) and 7.5Moz Au (Inferred) located just 10km west of Joe Mann. Permits are being submitted for the Gwillim prospect for drilling in the coming quarter; At Golden Eye, drilling has commenced with three rigs to grow the Indicated Resource and extend the resource below the currently defined depth of just 450m. Golden Eye was a new resource defined by Cygnus last year of 0.5Mt at5.6g/t Aueq for 91koz (Indicated) and of 1.2Mt at4.6g/t AuC2 and remains open at depth with one of the deepest intersections5 from last year of: 2.9m @ 10.2g/t AuEq ("8.3g/t Au,1.4% Cu & 3.3g/t Ag) from 463.8m (LDR-25-08). The Company also has a strong focus on defining new resources and making discoveries. At Gwillim, permits are underway for drilling to commence in the coming quarter. Drilling at Gwillim will be co-funded by 50% JV partner Alamos Gold, which has a market capitalisation of CAD 25B. Gwillim is just 12km from the Chibougamau processing facility and has high potential for defining new resources. Initial drilling will focus on following up high-grade historic intersections such as: 7.6m @ 38.1g/t Au from 314.9m (87-KOD-18); The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. The information in this release that relates to the Mineral Resource Estimate for the Chibougamau Project reported in accordance with the JORC Code (2012 Edition) and NI 43-101 was released by Cygnus in an announcement titled 'Major Resource Update' released to the ASX on 17 September 2025 and subsequent technical report dated 31 October 2025 titled "NI 43-101 Technical Report Chibougamau Hub and Spoke Complex, Quebec, Canada" prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and the JORC Code (2012 Edition). Tillkännagivande • Jan 20
Cygnus Metals Limited Announces High Priority Gold Drilling Targets, with Permit Applications in Progress, At its Chibougamau Copper-Gold Project in Quebec Cygnus Metals Limited announced high priority gold drilling targets, with permit applications in progress, at its Chibougamau Copper-Gold Project in Quebec. Cygnus is continuing to aggressively explore the highly prospective Chibougamau Project and grow resources in line with the Company’s value creation strategy. Two high priority drill targets have been identified which are both known to have significant high-grade gold mineralisation and little modern exploration. The Gwillim Project (50% JV with Alamos Gold) is located 12km northwest of the Chibougamau processing facility and has several gold rich structures running through the project. The Gwillim mine was in production in the 1970s and 1980s and produced 39koz at a grade of 4.8g/t. The main target sits 500m to the south of the historic mine and has a number of wide, high-grade intercepts which require follow up. These intersections include: 7.6m @ 38.1g/t Au from 314.9m (87-KOD-18);15.2m @ 9.4g/t Au from 155.1m (87-KOD-1); and16.4m @ 8.3g/t Au from 168.3m (87-KOD-10). Work is ongoing to compile the data and generate drill targets while the drill permit application is in process. The Joe Mann Project is located 46km south of the Chibougamau processing facility and was a past producing mine which closed in 2007. Joe Mann was known for its high-grade, producing 1.2Moz at a grade of 8.3g/t Au. The deposit is still open below existing workings and contains an Inferred Resource of 0.7Mt at 6.0g/t Au for 143koz Au. The Joe Mann Project covers 62km and hosts a number of near-surface regional drilling targets that require follow up work, some of which with high-grade gold intersections like:0.7m @ 480.2g/t Au from 92.3m (H-118);3.8m @ 20.8g/t Au from 287.2m (H-214); and8.4m @ 6.3g/t Au from 175.6m (H-374). Cygnus recently flew detailed airborne magnetics over the project to assist with targeting. This is being used in conjunction with the existing drilling and planned IP surveys to plan follow-up drilling. The Joe Mann Project is located in the heart of the area owned by Northern Superior Resources which was recently acquired by IAMGOLD’s for CAD 267.4 million. This acquisition consolidates a number of significant resources in the area with IAMGOLD’s Nelligan gold deposit. Cygnus is continuing its exploration strategy, focussed on resource growth and resource conversion, to drive the Chibougamau Project forward and deliver maximum returns to shareholders. In line with this strategy, drilling is expected to resume later this month at the Golden Eye deposit to test extensions below the current resource as well as converting more resources to the Indicated category. The current resource at Golden Eye includes an Indicated Resource of 0.5Mt at 5.6g/t AuEq for 91koz AuEq and Inferred Resource of 1.2Mt at 4.6g/t AuEq for 182koz AuEq. The Chibougamau area has well-established infrastructure, giving the Project a significant headstart as a copper-gold development opportunity. This infrastructure includes a 900,000tpa processing facility, local mining town, sealed highway, airport, regional rail infrastructure and 25kV hydro power to the processing site. Significantly, the Chibougamau processing facility is the only processing facility within a 250km radius. 
