• 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 confirm continuity of gold mineralisation and highlight potential to grow the Indicated Resource
• 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)

Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) has announced high-grade results from drilling at the Golden Eye deposit within its Chibougamau Copper-Gold Project in Quebec. Recent infill drilling has returned significant high-grade intersections, including 5.9m at 28.8g/t AuEq (24.8g/t Au, 2.7% Cu & 31.5g/t Ag), with a 1.0m interval grading 105.5g/t AuEq (102.9g/t Au, 1.4% Cu & 53.0g/t Ag). Other notable results include 7.7m at 4.0g/t AuEq, 11.5m at 4.3g/t AuEq (including 0.8m at 31.2g/t AuEq), and 6.7m at 5.9g/t AuEq (including 2.0m at 13.8g/t AuEq). These high-grade gold intercepts are complemented by impressive copper grades of up to 11.9% over 0.8m and silver grades of up to 142g/t over 0.8m. The infill drilling reconciles well against the block model and further confirms the strong continuity of the mineralisation. These results 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 Chibougamau area has well-established infrastructure, including a 900,000tpa processing facility, local mining town, sealed highway, airport, regional rail infrastructure and 25kV hydro power, giving the Project a significant head start as a copper-gold development opportunity.

Cygnus remains focused on resource growth and resource conversion to drive the Chibougamau Project forward towards development and deliver maximum returns to shareholders. The company 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.