Completion of Option Agreements and Cleansing Notice

Executive Summary

• Cygnus Metals Limited has completed the acquisition of a 100% undivided interest in the Sakami Project and the Beryl Lake property (part of the Auclair Lithium Project) in James Bay, Quebec.
• The company issued a total of 4,050,000 fully paid ordinary shares to finalize the transaction: 3,000,000 shares from the conversion of vested performance rights and 1,050,000 shares to the vendors under the respective option agreements.
• The company continues its active exploration and drilling programs at its Chibougamau Copper-Gold Project in Quebec, with assay results pending.

Key Details

• Issued 3,000,000 fully paid ordinary shares upon conversion of an equivalent number of vested performance rights.
• Issued 1,050,000 fully paid ordinary shares to vendors under option agreements for the Sakami Project and Beryl Lake property.
• Total shares issued for the transaction: 4,050,000.
• Transaction completed following shareholder approvals at the Annual General Meeting on 1 May 2026.
• Acquired undivided 100% right, title, and interest in both properties.
• Original option agreements for the properties were executed on 28 March 2023.
• Shares issued without disclosure under section 708A(5) of the Corporations Act 2001 (Cth), with compliance notices provided under section 708A(6).
• Ongoing exploration and drill programs are active at the Chibougamau Copper-Gold Project in Quebec; the company is awaiting assay results from the current program.