Resource Upgrade Looms as Cygnus Metals Confirms Continuous High-Grade Mineralisation

Corner Bay Drilling Delivers High-Grade Continuity

Cygnus Metals Limited has announced a series of compelling infill drilling results from its Corner Bay deposit within the Chibougamau Copper-Gold Project in Quebec, Canada. The latest assays reveal continuous high-grade mineralisation, highlighted by an intersection of 9.1 metres grading 4.4% copper equivalent (CuEq), including a standout 3.4 metres at 7.6% CuEq. These results build on recent successes at the nearby Golden Eye prospect and are expected to feed directly into a Mineral Resource update slated for the third quarter of 2025.

Resource Growth and Conversion Strategy

The current Indicated Resource at Corner Bay stands at 2.7 million tonnes at 2.9% CuEq, with an Inferred Resource of 5.9 million tonnes at 3.6% CuEq. The new drilling results demonstrate strong potential to convert more of the Inferred Resource into the Indicated category, which is critical for advancing project economics and feasibility studies. The infill drilling focused on the shallowest parts of the deposit, an area likely to underpin the early stages of any production schedule.

Strategic Infrastructure and Development Progress

Cygnus is advancing early engineering and permitting activities alongside its resource growth efforts. The Chibougamau Project benefits from a significant head start due to well-established infrastructure, including a 900,000 tonnes per annum processing facility; the only base metal processing plant within a 250-kilometre radius. Additional infrastructure assets include a local mining town, sealed highways, an airport, regional rail, and reliable hydro power, all of which enhance the project's development prospects.

Management Perspective and Market Context

Executive Chairman David Southam emphasised the importance of these results in confirming the high-grade and continuous nature of mineralisation at Corner Bay. He highlighted the strategic advantage of combining strong copper and gold fundamentals with record gold prices and existing processing infrastructure in a tier-one jurisdiction. The company’s dual-track approach aims to both grow the resource base and convert existing resources to higher confidence categories, setting the stage for updated economic assessments.

Looking Ahead

With the Mineral Resource update expected in the September quarter, Cygnus is well positioned to refine its project development plans and attract further investment interest. The ongoing exploration and drilling programs continue to unlock additional targets around the Corner Bay deposit, while permitting and engineering work seeks to streamline the pathway toward production.