• Cygnus identifies two gold prospects with known mineralisation for drilling in Q2
• The Gwillim prospect has returned several high-grade intersections up to 38.1g/t Au
• The Joe Mann prospect is a historic high-grade gold mine with an Inferred Resource of 143koz Au

Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is pleased to announce the identification of two new gold prospects, Gwillim and Joe Mann, with known high-grade mineralisation at its Chibougamau Copper-Gold Project in Quebec. The Gwillim prospect, located 12km from the Chibougamau processing facility, has returned several high-grade intersections including 7.6m @ 38.1g/t Au, 15.2m @ 9.4g/t Au, and 16.4m @ 8.3g/t Au. The Joe Mann prospect is a historic high-grade gold mine that produced 1.2Moz at 8.3g/t Au and has an Inferred Resource of 143koz Au at 6.0g/t. The project has significant regional potential with intersections of up to 480.2g/t Au near surface. Cygnus believes these prospects have substantial resource growth potential and plans to commence drilling in Q2 following standard permitting. The company is also planning to resume drilling at the Golden Eye deposit to test extensions below the current resource. The Chibougamau area has well-established infrastructure, giving the project a significant headstart as a copper-gold development opportunity.

Cygnus is continuing its exploration strategy focused on resource growth and resource conversion to drive the Chibougamau Project forward and deliver maximum returns to shareholders.