Issue of Shares and Cleansing Notice

Settlement of the Placement for A$25m

TORONTO and PERTH, Western Australia, March 19, 2026 (GLOBE NEWSWIRE) -- Further to its ASX announcement on 13 March 2026, Cygnus Metals Limited (“Cygnus” or the “Company”) has today issued a total of 156,250,000 fully paid ordinary shares (“Shares”) at an issue price of A$0.16 each under the Placement, raising A$25 million before costs. The Shares were issued pursuant to ASX Listing Rules 7.1 and 7.1A.

Cygnus issued the Shares without disclosure under section 708A(5) of the Corporations Act 2001 (Cth) (“Act”). With reference to those Shares issued, in accordance with section 708A(6) of the Act, the Company gives notice under paragraph 708A(5)(e) that:

1. the Shares were issued without disclosure to investors under Part 6D.2 of the Act, and
   
   
2. as at the date of this notice:
   
   
   1. the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;
      
      
   2. the Company has complied with sections 674 and 674A of the Act; and
      
      
   3. there is no excluded information within the meaning of sections 708A(7) or 708A(8) of the Act, which is required to be disclosed under section 708A(6)(e) of the Act.
      

As previously announced, the Company has ongoing exploration and drill programs at its Chibougamau Copper-Gold Project in Quebec and is awaiting assay results from its current drill program (which remains ongoing). The Company will announce its assay results when it is in a position to complete the collation and interpretation of all data and in accordance with its continuous disclosure obligations, the JORC Code and the ASX Listing Rules.

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

About Cygnus Metals

Cygnus Metals Limited (ASX:CY5, TSXV:CYG, OTCQB:CYGGF) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.