Further strong drilling results outside existing resources

• First hole at Cedar Bay prospect returns up to 29.1g/t AuEq over 0.4m within a wide interval of 10.6m at 4.1g/t AuEq
• Results also received outside the recent resource at Corner Bay, including 3.1m @ 4.9% CuEq
• Cygnus continues to identify targets through review of historical data and AI-driven exploration

Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is pleased to announce strong intersections outside the current Resource boundary at its Chibougamau Copper-Gold Project in Quebec. The results highlight the potential for further resource growth and include Cygnus' first drill hole at Cedar Bay as well as additional drill holes at Corner Bay. The first result from the Cedar Bay exploration program has intersected a wide gold-rich zone of mineralisation, including 10.6m @ 4.1g/t AuEq (3.6g/t Au, 0.3% Cu & 2.8g/t Ag), with high-grade gold up to 29.1g/t AuEq over 0.4m. This intersection extends the current interpreted mineralisation by 200m. Additional results have also been received from drilling at Corner Bay, which are outside the recently released Mineral Resource, including 3.1m @ 4.9% CuEq (4.5% Cu, 0.3g/t Au & 21.7g/t Ag). Cygnus continues to identify targets through the ongoing review of historical data and drill logs using its innovative custom-built AI solution. The Company is focused on resource growth and conversion to drive the Chibougamau Project towards development.

Cygnus is continuing its exploration strategy focused on resource growth and resource conversion, to drive the Chibougamau Project forward towards development and deliver maximum returns to shareholders. The Company will keep the drill rigs turning as it continues to target growth opportunities surrounding the current resources, which remain open in all directions.