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Issue of Shares and Cleansing Notice

TORONTO and PERTH, Australia, June 26, 2025 (GLOBE NEWSWIRE) -- Further to the ASX announcement on 20 June 2025, Cygnus Metals Limited ("Cygnus" or the "Company") advises that it has issued a total of 211,627,907 fully paid ordinary shares ("Shares") at A$0.086 each under Tranche 1 of the Placement, raising a total of A$18,200,000 (before costs). The Shares were issued under the Company's existing capacity under ASX Listing Rules 7.1 (126,702,591) and 7.1A (84,925,316).

A further 1,162,790 Shares are intended to be issued under Tranche 2 of the Placement to Non-Executive Director Raymond Shorrocks, or his nominees, subject to receipt of shareholder approval at a general meeting to be held in August 2025.

In addition, the Company has issued a total of 306,129 Shares to employees on conversion of 350,000 vested Performance Rights issued under the Company's previous Employee Securities Incentive Plan.

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 ...