Issue of Shares and Cleansing Notice

Executive Summary

• Cygnus Metals Limited issued 156,250,000 fully paid ordinary shares at A$0.16 each, raising A$25 million before costs.
• The placement was made under ASX Listing Rules 7.1 and 7.1A and without disclosure under Corporations Act sections 708A(5)‑(6).
• The company reaffirmed compliance with the relevant provisions of the Corporations Act and indicated ongoing exploration at its Chibougamau Copper‑Gold Project, with assay results to be announced later.

Key Details

• Shares Issued: 156,250,000 ordinary shares (fully paid)
• Issue Price: A$0.16 per share
• Gross Proceeds: A$25 million before costs
• Regulatory Basis: ASX Listing Rules 7.1 & 7.1A; issuance without disclosure under Corp Act s708A(5)‑(6) with notice provided pursuant to s708A(5)(e)
• Compliance Statements:
• No excluded information under s708A(7) or s708A(8)
• Company complied with Chapter 2M, sections 674 and 674A of the Corporations Act
• Use of Proceeds (implied): To fund ongoing exploration and drill programs at the Chibougamau Copper‑Gold Project in Quebec (specific allocation not detailed).
• Exploration Update: Ongoing drilling at Chibougamau; assay results pending and will be released when data collation and interpretation are complete, consistent with continuous disclosure obligations, JORC Code, and ASX Listing Rules.

Notable Quotes

• No direct quotes from executives were included in the release.