• New drilling campaign at Cedar Bay returns first high-grade results
• A new wide zone of mineralisation was intersected through resource growth drilling at Cedar Bay
• Drilling has successfully extended the Cedar Bay mineralisation by 300m up dip

Cygnus Metals Limited reported on its activities during the December 2025 quarter, with a focus on the Chibougamau Copper-Gold Project. The company continued drilling at Cedar Bay, targeting growth opportunities surrounding the current resource, which remains open in all directions. The drilling program returned a number of high-grade results, including 10.6m at 4.1g/t AuEq, 2.7m at 5.7g/t AuEq, and 1.3m at 9.3g/t AuEq. These results have successfully identified extensions to the Cedar Bay Resource, extending the mineralisation by up to 300m up dip. Drilling also intersected a new wide zone of strong mineralisation, returning 28.9m at 2.5g/t AuEq, which sits between the Cedar Bay and Copper Cliff historic mines and may represent an underexplored parallel lode. Additional results were received from drilling at Corner Bay, which are also outside the recently released Mineral Resource. With the Mineral Resource Estimate update resulting in a 78% increase in the Measured and Indicated Mineral Resources, Cygnus is advancing the project with an updated Scoping Study/PEA, which is currently underway and scheduled for completion in the first half of 2026. The company continues to actively support First Nations and community activities and has completed environmental and social impact assessment studies.

The company will keep the drill rigs turning as it continues to drive resource growth and push the Chibougamau project towards development by advancing the economic studies.