• Phase 1 Cathode Restart project progressing to plan
• Commencement of copper cathode production expected in September Quarter 2026
• Continued advancement of technical work supporting near-term growth at Nifty Copper Complex

Cyprium Metals Ltd (ASX: CYM) has provided an update on its activities for the March 2026 quarter, with significant progress on the Phase 1 Copper Cathode Restart project at the Nifty Copper Complex. Key highlights include: - Substantial progress on site infrastructure, including desilting and relining of ponds, installation of leach solution transport infrastructure, and commencement of heap turnover and dripper line installation. - Refurbishment of the SXEW plant, with approximately 50% of planned labour hours completed, including concrete repairs, installation of new equipment, and replacement of cables and piping. - Continued advancement of technical work to expand the Nifty Copper Complex beyond the Phase 1 restart, including evaluation of opportunities to increase cathode production capacity and restart concentrate production from a new open-pit mine. - Exploration activities, including a review of historical data that identified several high-priority targets, and a diamond drilling program at the Rainbow prospect. - Completion of a A$41 million equity capital raising to support growth initiatives. The company also highlighted its focus on securing energy and sulphuric acid supply to support the Phase 1 Cathode Restart project, with multiple months of diesel and sulphuric acid secured. The company expects continued execution across all phases of project construction, operational readiness, supply chain build, and pre-commissioning activities in the coming quarter, with heap leach commissioning, plant practical completion and commissioning, first cathode production, and ramp-up expected to commence in the following quarter.

Cyprium is focused on executing its staged development approach, with the Phase 1 Copper Cathode Restart project progressing to plan and the company continuing to advance technical work to expand the Nifty Copper Complex beyond the initial restart. The company is also excited about the exploration potential across its Paterson Province assets, including the Rainbow prospect, and is well-funded to advance all key workstreams.