Cygnus targets resource growth with start of new drilling and geophysics programs

Executive Summary

• Cygnus Metals launched an extensive multi‑front exploration program at its Chibougamau Copper‑Gold Project, targeting resource extensions at Cedar Bay and Golden Eye and new discoveries at Joe Mann and Gwillim.
• Early results include high‑grade intercepts such as 28.9 m @ 2.5 g/t AuEq (Cedar Bay) and 10.6 m @ 4.1 g/t AuEq, plus a historic 7.6 m @ 38.1 g/t Au at Gwillim.
• The company reports a total Chibougamau resource of 6.4 Mt @ 3 % CuEq (193 kt CuEq) Indicated and 8.5 Mt @ 3.5 % CuEq (295 kt CuEq) Inferred, with plans to grow these figures further in 2026.

Key Details

• Cedar Bay – Downhole Electromagnetics (DHEM):
• 28.9 m @ 2.5 g/t AuEq (1.0 g/t Au, 1.0 % Cu, 12.0 g/t Ag) – hole CDR‑25‑16
• 10.6 m @ 4.1 g/t AuEq (3.6 g/t Au, 0.3 % Cu, 2.8 g/t Ag) – hole CDR‑25‑11W1
• Recent Cedar Bay extensions:
• 0.3 Mt @ 8.1 g/t AuEq for 67 koz (Indicated)

• 0.8 Mt @ 7.8 g/t AuEq for 205 koz (Inferred)

• Golden Eye – Drilling commenced:

• Current resource: 0.5 Mt @ 5.6 g/t AuEq (91 koz AuEq, Indicated) & 1.2 Mt @ 4.6 g/t AuEq (182 koz AuEq, Inferred)

• Notable historic intercept: 2.9 m @ 10.2 g/t AuEq (8.3 g/t Au, 1.4 % Cu, 3.3 g/t Ag) from 463.8 m – hole LDR‑25‑08

• Joe Mann – IP Survey:

• Targets analogues to IAMGOLD’s Nelligan Complex (4.3 Moz Au M&I; 7.5 Moz Au Inferred) located ~10 km west.

• Historic high‑grade intersections under review:

  • 0.7 m @ 480.2 g/t Au (H‑118)
  • 3.8 m @ 20.8 g/t Au (H‑214)
  • 8.4 m @ 6.3 g/t Au (H‑374)

• Gwillim – Permit & JV:

• Drilling permits being prepared; 50 % co‑funded by Alamos Gold (≈C$25 B market cap).

• Historic high‑grade targets to be tested:

  • 7.6 m @ 38.1 g/t Au from 314.9 m (87‑KOD‑18)
  • 15.2 m @ 9.4 g/t Au from 155.1 m (87‑KOD‑1)
  • 16.4 m @ 8.3 g/t Au from 168.3 m (87‑KOD‑10)

• Overall Chibougamau Resource (as of 17 Sep 2025):

• Indicated: 6.4 Mt @ 3 % CuEq → 193 kt CuEq

• Inferred: 8.5 Mt @ 3.5 % CuEq → 295 kt CuEq

• Infrastructure: 900,000 tpa processing plant, sealed highway, airport, rail access, and 25 kV hydro power—only facility within a 250 km radius.

Notable Quotes

“There is overwhelming evidence which points to the potential for substantial resource growth at Chibougamau… We are confident that our exploration strategy will deliver more strong results and create more value for shareholders.” – David Southam, Executive Chairman

All boilerplate, forward‑looking statements, and company background have been omitted per instructions.