Cygnus Metals Limited · ASX:CY5
Cygnus Metals — BMO Global Metals, Mining & Critical Minerals Conference and PDAC (February 2026)
24 slides from Cygnus Metals's conference presentation, February 2026
Slide 1: High-Grade Chibougamau Copper-Gold Project
High-Grade Chibougamau Copper-Gold Project Corporate Presentation ASX: OTCQB: CY5 CYGGF TSXV: CYG
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains summary information about Cygnus Metals Limited (“Cygnus”, “Cygnus Metals” or the “Company”). The information in this presentation is of general background and does not purport to be complete. This presentation has been approved for release by the Exe
Slide 3: Summary
Summary
Slide 4: Strong Share Register & Funded
Strong Share Register & Funded High News Flow Expected Capital Structure1 Current A�0.185 Shares on Issue 1,064M Current Share Price1 A�197M Shareholder Summary3 Market Capitalisation1 Board, Mgt & Advisers 9% Ocean Partners (UK) 10% A�13.4M Equinox Partners (USA) 12% Cash Position2 Global Research
Slide 5: High Grade Copper-Gold in Quebec, Canada
High Grade Copper-Gold in Quebec, Canada Near Term Development in a Tier 1 Mining Jurisdiction Chibougamau Copper-Gold Project • Building Scale – 193kts CuEq (M&I) + 295kts CuEq (Inferred) • Measured and Indicated Resource of 6.4Mt at 3.0% CuEq and Quebec Inferred Resource of 8.5Mt at 3.5% CuEq • Hi
Slide 6: Exploration & Resources
Exploration & Resources
Slide 7: Chibougamau 2025 Resource Update
Chibougamau 2025 Resource Update High-Grade Copper and Gold Resource Five deposits in Hub and Spoke Model 29% Increased in Contained Metal 98% Increase in Gold Resource 331kt Copper, 621koz Gold & 3.7Moz Silver 78% Increase in Measured and Indicated New Resource at Golden Eye – 274Koz AuEq 7
Slide 8: Resource Growth Opportunities
Resource Growth Opportunities Proven Growth with 29% Resource Increase AI Compilation Targeting Geophysics Systematic Drilling sw NE Historic Production Historic Production 363kt Cu & 1.8Moz Au 285kt Cu & 1.2Moz Au Historic 1 Production Lack of Minimal 2 Consolidation Exploration OPEN OPEN OPEN 3 Un
Slide 9: Chibougamau 2025 Resource Update
Chibougamau 2025 Resource Update High-Grade Copper and Gold Resource Contained CuEq Contained Copper Contained Gold Contained Silver (kt) (kt) (koz) (Moz) 600 350 700 4.0 8% Five deposits in Hub and Spoke Model 300 600 500 3.0 29% 250 500 29% Increased in Contained Metal 400 98% 200 400 New 98% Incr
Slide 10: Initial Resource at Golden Eye
Initial Resource at Golden Eye With Resource Growth Opportunity High Grade and Open Initial resource high-grade gold resource Indicated: 91koz @ 5.6g/t AuEq & Inferred: 182koz @ 4.6g/t AuEq 29% of the resource in Indicated category Resource includes high-grade intersections of 5.9m @ 34.1g
Slide 11: Corner Bay the Flagship
Corner Bay the Flagship Now +10Mt Standalone Deposit Corner Bay Making up 69% of Resource Resource grown to +10Mt standalone deposit with Indicated: 4.9Mt @ 2.8% CuEq Inferred: 5.4Mt @ 3.0% CuEq 48% of the resource in Indicated category Recent results from drilling highlight robust continu
Slide 12: Drilling at Cedar Bay
Drilling at Cedar Bay Continued Resource Growth High-Grade Historic Mine and Open at Depth Cedar Bay mine closed in 1990 and was historically one of the highest grade deposits in the camp, producing 400koz Au and 61kt Cu at an average grade of 5.2g/t AuEq Current high-grade gold-dominant resourc
Slide 13: Regional Overview
Regional Overview Opportunity for Consolidation Only Base Metals Processing Infrastructure within 250km • Chibougamau Project has the only processing infrastructure in the region • Next closest due for construction is Goldfields’ Windfall Project • Access for additional ore sources • District contai
Slide 14: Infrastructure & Community
Infrastructure & Community
Slide 15: Chibougamau Infrastructure in Place
Chibougamau Infrastructure in Place Fast Tracked for Development Chibougamau Project Infrastructure 900ktpa Processing Facility + TSF (replacement value +C�150M) The Town of Chibougamau Population ~7,500 Mining Training Centre + Local Airport, Regional Railway, Highways, Hydro Power
Slide 16: Pathway to Production
Pathway to Production Well Supported and Advanced Studies High Quality Concentrate Enclosed Processing Facility Floatation Cells and Thickener • Excellent copper recoveries1 of 98.2% and 96.8% • High-quality copper concentrate grades1 of 27.0% and 29.6% • Highly commercial quality of the concentrate
Slide 17: Value Creation and Newsflow
Value Creation and Newsflow
Slide 18: Delivering on Value Creation Strategy
Delivering on Value Creation Strategy The Growth Pathway Achieved in 9 Months 2025 2026 Drilling Key Catalysts Q3 Q4 Q1 Q2 Q3 Q4 2 Rigs Drilling 17,183m Resource Update Resource Growth Contained Metal (+29%) Exploration Drilling Landholding Resource Conversion 282km2 (+50%) Resource Upgrade Scoping
Slide 19: Cygnus Value Proposition
Cygnus Value Proposition An Opportunity to Create Significant Shareholder Value Chibougamau Copper-Gold Upside and Growth Team with Strong Track Fully Funded with Project Opportunities Record Access to Capital • High-grade copper gold in • 2 drill rigs on site • Strong Cu and Au project • Funded to
Slide 20: Proven Track Record of Success
Proven Track Record of Success Led by a team that has created significant shareholder value from exploration, development and production David Southam Ernest Mast Kevin Tomlinson Mario Stifano Raymond Shorrocks Brent Omland Executive Chairman Non-Exec Director Non-Exec Director Non-Exec Director Non
Slide 21: Contact
ASX: CY5 / TSXV: CYG Contact: info@cygnusmetals.com Phone: +61 8 6188 1627 www.cygnusmetals.com
Slide 22: Additional Information
Additional Information * Image of drill hole CB-20-17 from 973m to 981m. Refer to CY5 ASX release dated 15 October 2024. Appendix A: Mineral Resources Appendix B: Sources of Information 22
Slide 23: Chibougamau 2025 Resource Update
Chibougamau 2025 Resource Update High-Grade Copper and Gold Resource Appendix A: Mineral Resource Cu Project Classification COG CuEq Tonnage Cu Au Average Grade Ag CuEq AuEq Cu Au Contained Metal Ag CuEq AuEq Notes: % Mt % g/t g/t % g/t kt koz koz kt koz 1. Cygnus’ Mineral Resource Estimate for the
Slide 24: Appendix B: Sources of Information
Appendix B: Sources of Information Source for historic production figures: Leclerc. F, Harris. L. B, Bedard. J. H, Van Breeman. O and Goulet. N. 2012, Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northea