Cygnus Metals Reports Promising Drilling Results at Chibougamau

Cygnus Metals Limited has announced significant drilling results outside the current resource boundaries at its Chibougamau Copper-Gold Project in Quebec. The findings suggest strong potential for resource growth, including the company’s first drill hole at Cedar Bay and additional holes at Corner Bay. This development marks a key step in Cygnus’s exploration strategy to enhance the value of its projects.

The Chibougamau Project, which is located in a historically rich mining region, has seen renewed interest following these drilling results. The Cedar Bay mine, which ceased operations in 1990, was once considered one of the highest-grade deposits in the area, yielding 400,000 ounces of gold and 61,000 tonnes of copper at an average grade of 5.2 grams per tonne (g/t) gold equivalent.

Current exploration efforts focus on expanding the mineral resources at Cedar Bay, where the existing estimates indicate 67,000 ounces at 8.1 g/t AuEq (Indicated) and 205,000 ounces at 7.8 g/t AuEq (Inferred). The latest drilling has revealed a wide gold-rich zone, with high-grade gold detected at 29.1 g/t AuEq over a span of 0.4 meters, extending the interpreted mineralization by 200 meters.

Results from additional drill holes are pending, while two rigs continue to explore the plunge continuity of the Cedar Bay mineralization. The company is optimistic about the potential for further resource expansion, especially around the Corner Bay deposit, which hosts a copper-dominant resource of 137,000 tonnes of copper equivalent at 2.8% CuEq (Indicated) and 159,000 tonnes at 3.0% CuEq (Inferred).

Drilling at Corner Bay is set to resume once operations at Cedar Bay are concluded and access conditions improve with the onset of winter in Quebec. Cygnus is committed to a strategy focused on resource growth and conversion, which is pivotal for advancing the project toward development and maximizing returns for shareholders.

The Chibougamau area benefits from well-established infrastructure, including a 900,000 tonnes per annum processing facility, a local mining town, a sealed highway, an airport, regional rail networks, and a 25 kV hydroelectric power supply. The processing facility is notably the only base metal processing plant within a 250-kilometer radius, catering to several other advanced copper and gold projects.

This announcement has been authorized for release by the Board of Directors of Cygnus Metals.

About Cygnus Metals
Cygnus Metals Limited is a diversified exploration and development company focused on critical minerals. Headquartered in Toronto and Perth, the company is advancing the Chibougamau Copper-Gold Project with a robust exploration program. Additionally, Cygnus holds quality lithium assets in Quebec’s James Bay district, as well as rare earth element and base metal projects in Western Australia. The team at Cygnus has a strong track record of converting exploration success into production and enhancing shareholder value.

Forward-Looking Statements
This release may contain forward-looking statements regarding estimates, resources, and planned strategies. These statements are subject to risks and uncertainties and should not be relied upon as guarantees of future performance. Cygnus disclaims any obligation to update or revise any forward-looking statements based on new information or developments, except as required by applicable laws.

Qualified Persons and Compliance Statements
The scientific and technical information contained in this announcement has been reviewed by Mr. Louis Beaupre, Quebec Exploration Manager of Cygnus, a qualified person as defined in National Instrument 43-101. Mr. Beaupre holds options in Cygnus and is a member of the Ordre des ingenieurs du Quebec (P. Eng.). He consents to the inclusion of the information in the form and context presented.

For more detailed information on the Mineral Resource Estimate for the Chibougamau Project, please refer to the company’s announcement titled ‘Major Resource Update’ released on September 17, 2025.

Cygnus is not aware of any new information that materially alters the previous announcements, and all material assumptions related to the Mineral Resource estimates remain valid.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.