Latest news with #Mining
Business Upturn
19 hours ago
- Business
- Business Upturn
Retail Crypto Investors Use OurCryptoMiner To Maximize Mining Rewards
Manchester, UK, June 20, 2025 (GLOBE NEWSWIRE) — You may want to know what is OurCryptoMiner Cloud Mining. Let's familiarize ourselves with this concept of cloud mining. Imagine mining cryptocurrencies like Bitcoin and Litecoin without having to buy equipment and manage mining Cloud Mining lets you do just that! By leveraging the computing power provided by remote data centers, you can participate in the exciting world of cryptocurrency mining without the need for any technical knowledge or advantages of OurCryptoMiner Cloud Mining are significant. First of all, it offers unparalleled convenience. Gone are the days of buying expensive mining equipment and grappling with complex algorithms. With OurCryptoMiner cloud mining, you can start building wealth from the comfort of your home with a simple operation at your computer or via your cell phone. This simplified approach saves you time and eliminates the hassle of constant maintenance and updates, allowing you to focus on what's important. Additionally, cloud mining can be an excellent hedge against the inflation and volatility of traditional financial markets. Cryptocurrencies have shown remarkable resilience and growth potential, making them a safe investment avenue in uncertain times. By diversifying your portfolio through cloud mining, you can increase your financial stability and earn substantial returns even during economic crises. Benefits of the OurCryptoMiner platform: Signup Bonus: After creating an account, you will receive a $12 bonus and $0.6 for signing in every day. Multiple Options: You can generate popular cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Dogcoin (DOGE) and more. Funding Security: Adopting bank-level fund supervision and guarantee system to ensure the safety of all users' funds. We have multiple mining farms and data centers around the world, using the most advanced servers and liquid cooling technology to ensure the stability and efficiency of cloud mining. Highly flexible: you can increase or decrease the rented arithmetic power at any time according to your needs, and flexibly adjust your mining strategy. Profitable Affiliate Program: Earn up to 3% for direct referrals and 2% for secondary referrals. Easy to Manage: Users don't need to worry about the maintenance and management of the mining machine, they can earn revenue by purchasing a contract. Professional Support: OurCryptoMiner platform provides 24/7 online customer support to help you solve any problems. Choose a Contract: Browse contracts and choose the one that suits you best. Whether you are looking for short-term or long-term gains, OurCryptoMiner has the right solution for you. Each contract has a different income and a specific contract term. Enjoy the income: the system automatically starts mining after purchasing a contract. You can login to the platform at any time to check your earnings. The platform provides detailed profitability reports and real-time tracking, allowing you to see the progress of each investment anytime, anywhere. OurCryptoMiner cloud mining offers unparalleled transparency and security. About OurCryptoMiner OurCryptoMiner is a legitimate and financially regulated cloud mining company based in England. The company was founded in 2019 and has specialized Bitcoin mining facilities in more than 190 countries around the stands out in the cryptocurrency mining industry, providing financial services and a way to earn cryptocurrency to more than 3.6 million registered users worldwide. OurCryptoMiner cloud mining company puts you at the forefront of one of the most exciting financial revolutions of our time. Embrace the future of digital finance and watch your wealth grow exponentially! Are you ready to embark on this exciting journey to wealth? Choose the reputable cloud mining OurCryptoMiner, which offers a comprehensive investment program that meets your needs and goals. With their vast experience and top-notch technology, you can make this path to wealth a profitable one. For more information, please visit the official website: Corporate Email: [email protected] Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
a day ago
- Business
- Yahoo
FLSmidth signs agreement to divest its Cement business to become a pure-play supplier of technology and services to the mining industry
COMPANY ANNOUNCEMENT NO. 10-2025 FLSmidth & Co. A/S20 June 2025 Copenhagen, Denmark Today, FLSmidth announces that it has entered into an agreement to divest its Cement business to an affiliate of Pacific Avenue Capital Partners, a global private equity firm focused on carve-outs and other complex transactions, for a total initial consideration of EUR 75 million, corresponding to approximately DKK 550 million (Enterprise Value), plus a conditional deferred cash consideration of up to EUR 75 million, corresponding to approximately DKK 550 million. In early 2023, FLSmidth embarked on a strategic journey with the announcement of new pure-play strategies for its Mining and Cement businesses (ref. Company Announcement no. 2-2023). Since then, FLSmidth has simplified and rightsized both businesses to further strengthen their respective market positions, with a strategic focus on the core technologies and services required in the mining and cement industries. This has resulted in a significantly improved and more stable commercial and financial performance for both businesses. On 29 January 2024 (ref. Company Announcement no. 1-2024), FLSmidth announced its intention to explore the available divestment options for its Cement business, with the objectives of enabling the Cement business to maximise its full potential as well as to further strengthen our Mining business' market-leading position as a full flowsheet technology and service provider to the global mining industry. Chair of the Board of Directors of FLSmidth, Mads Nipper, comments: 'I am incredibly proud of what our Cement business has achieved in its more than 140-year long history with FLSmidth. We firmly believe that this divestment represents a pivotal step in unlocking the full potential for both our Mining and Cement businesses. Our Cement business is now well positioned for future success, with the flexibility to pursue its strategic ambitions and create exciting new opportunities for its employees to innovate and grow.' CEO of FLSmidth, Mikko Keto, comments: 'The divestment allows us to sharpen our focus on our core Mining business, positioning FLSmidth as a pure-play leader in the mining industry. With a clear and focused Mining strategy, we are confident that we are well positioned to drive long-term value for our customers, shareholders and other stakeholders and enhance our competitive position.' Jason Leach, Partner and Investment Committee Member at Pacific Avenue Capital Partners, comments: 'We are excited to acquire FLSmidth Cement, a global leader providing mission critical equipment and aftermarket solutions in the cement sector. The business has a rich history and strong brands including Fuller, Pfister, and Ventomatic. We believe that cement will continue to play a crucial role in global economic development, and that FLSmidth Cement's product innovation will play an important role in the decarbonisation of the industry'. Chris Sznewajs, Founder and Managing Partner, at Pacific Avenue Capital Partners, comments: 'We are honoured to be the trusted partner for FLSmidth on this highly complex transaction. We strive to be the buyer of choice for corporate sellers, with the ability to seamlessly complete cross-border transactions. The Cement division is an excellent fit within our portfolio given our focus on acquiring market leading companies. We are impressed with the Company's ability to deliver innovative, mission-critical solutions to its longstanding customers, and look forward to providing the necessary resources to support continued growth and value creation in partnership with management.' The transaction includes all related employees, assets, intellectual property and technology. Certain legacy contracts and the Air Pollution Control (APC) asset will be retained by FLSmidth with immaterial impact on the continuing Mining business. The transaction is expected to close during the second half 2025, subject to customary closing conditions, including regulatory approval from the relevant implications and outlookThe net cash proceeds from the divestment are subject to final adjustments, debt-like items and transaction costs. It is expected that after these adjustments the result is a limited net cash gain from the transaction. Further, the transaction includes a deferred cash consideration of up to EUR 75 million, or approximately DKK 550 million, which is conditional upon the achievement of certain undisclosed objectives. As a consequence of the transaction, FLSmidth Cement will be classified as held-for-sale and discontinued operations in the Q2 2025 Interim Financial Report. As a result of the transaction, a fair value adjustment of asset and liabilities will result in an impairment charge of approximately DKK 700 million with no cash impact, which will be accounted for in the profit/(loss) from discontinued operations in the Q2 2025 Interim Financial Report. FLSmidth's financial guidance for the full year 2025 does not include discontinued operations and will thus be adjusted to only reflect the financial outlook for the Mining business. The financial guidance for the full year 2025 for the Mining business is unchanged (ref. Company Announcement no. 8-2025). FLSmidth thus expects revenue for the full year 2025 of DKK ~15.0 billion and an Adjusted EBITA margin in the range of 14.0% to 14.5%. The Adjusted EBITA margin excludes transformation and separation costs of around DKK 200m for the full year 2025. In addition, and as a consequence of the transaction, the long-term financial target for FLSmidth Cement of an EBITA margin of ~8% for the full year 2026 is withdrawn. The long-term financial target for the Mining business of an EBITA margin of 13-15% for the full year 2026 remains unchanged (ref. Company Announcement no. 2-2023). Further impact of the transactions will be communicated in connection with the release of FLSmidth's Q2 2025 Interim Financial Report on 20 August 2025. Until closing of the transactions, FLSmidth Cement will continue to execute on its GREEN'26 strategy. Further, during the period to closing of the transactions and for a limited time thereafter, FLSmidth will continue to provide support and services to FLSmidth call On 20 June 2025 at 13.30 CEST, Mr. Mikko Keto (CEO) and Mr. Roland M. Andersen (CFO) will host a conference call to comment on this announcement. The presentation will be followed by a short Q&A session. The presentation will be held in English. The presentation can be followed live or as a replay here. If you wish to ask questions or just listen to the presentation via telephone, please register here. After registration, you will receive phone numbers, pin codes and a calendar invite. Please note that you will receive two codes (a pass code and a PIN code), both of which are needed when dialling into the webcast. The presentation slides will be made available shortly after the conference call has ended at Investors RelationsAndreas Holkjær, +45 24 85 03 84, andh@ Denholt, +45 21 69 66 57, jli@ MediaJannick Denholt, +45 21 69 66 57, jli@ FLSmidth FLSmidth is a full flowsheet technology and service supplier to the global mining industry. We enable our customers to improve performance, lower operating costs and reduce environmental impact. MissionZero is our sustainability ambition towards zero emissions in mining by 2030. We work within fully validated Science-Based Targets, have a clear commitment to improving the sustainability performance of the global mining industry and aim to become carbon neutral in our own operations by 2030. Pacific Avenue Capital Partners Pacific Avenue Capital Partners is a Los Angeles-headquartered private equity firm focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue has extensive M&A and operations experience, allowing the firm to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. Pacific Avenue takes a collaborative approach in partnering with strong management teams to drive lasting and strategic change while assisting businesses in reaching their full potential. Pacific Avenue has more than USD 2.1 billion Assets Under Management (AUM) as of 31 March 2025. For more information, please visit Attachment FLSmidth Company Announcement no. 10-2025Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
2 days ago
- Business
- Globe and Mail
CanAlaska Announces Results from Property-Wide Airborne Surveys on 16,000 Hectare Frontier Project
Multiple Priority Exploration Target Zones Identified, Stock Options Granted Saskatoon, Canada--(Newsfile Corp. - June 19, 2025) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) (" CanAlaska" or the " Company") is pleased to announce results from a series of property-wide airborne geophysical surveys completed on its 100%-owned Frontier Project (the "Project"). The results from high-resolution helicopter-borne Versatile Time Domian Electromagnetic (VTEM Plus), horizontal magnetic gradient, and radiometric surveys identified several exploration target zones on the Project. The purpose of the surveys was to identify and prioritize basement conductors, characterize lithological and alteration variations, refine areas of interest for ground prospecting, and map the structural setting of the project to support future drill targets. The Project is located in the northeastern Athabasca Basin approximately 30 kilometres northeast of the McClean Lake mill complex and Roughrider uranium deposit, and 35 kilometres north of Cameco's Eagle Point uranium mine (Figure 1). To view an enhanced version of this graphic, please visit: Frontier Airborne Survey Results The Frontier project is located five kilometres northeast of the present-day Athabasca Basin edge. Compilation work on the project has highlighted a prominent 25-kilometre-long northeast trending magnetic low corridor, termed here as the Roughrider Mineralized Corridor ("RMC"). This regional-scale corridor, which continues off property to the southwest, hosts multiple uranium deposits and showings, including Roughrider, Midwest, J Zone, Dawn Lake, Moonlight, Osprey, and the McClean Lake mine and mill complex. Figure 2 – Frontier Project Airborne Survey Target Areas To view an enhanced version of this graphic, please visit: The recently completed VTEM Plus survey consisted of 931 line-km's of helicopter-borne surveying at a 200 metre line spacing across the Project. This was followed by a high-resolution magnetics and radiometrics survey that consisted of 3,739 line-km's of helicopter-borne surveying at 50 metre line spacing across the Project. The surveys were conducted by Geotech Ltd. of Aurora, Ontario and survey management and processing were conducted by Condor Consulting, Inc. Upon completion, the results of the airborne surveys were processed using 3D magnetic inversions and subsequently processed through a GeoInterp data analysis. GeoInterp is a form of data analysis to extract lithostratigraphic and structural elements from magnetic data. As a result of data processing and the GeoInterp analysis, a series of target zones were identified on the Frontier Project (Figure 2). The target zones are concentrated around large-scale north to northwest trending faults that are associated with shorter strike length faults and conductors. The highest priority target zones are those where magnetic low structural corridors are associated with cross-cutting fault features. The Point Lake Anomaly, a historical lake sediment sample collected in the early 1990's by the Geological Survey of Canada that returned 34.7 ppm uranium associated with elevated cobalt, copper, molybdenum, and nickel, is located along one of the main north-south trending features within the central target area. The airborne surveys completed on the Frontier Project represent a critical step in the Company's exploration strategy looking for tier 1 basement-hosted uranium deposits. The Company has deliberately generated a strategic land portfolio in the infrastructure-rich northeastern Athabasca Basin region along corridors that show geological and structural similarities to the Arrow and Eagle Point basement-hosted uranium deposits. The Company is actively seeking Joint Venture partners to move the Project to the next exploration stage. CanAlaska CEO, Cory Belyk, comments, "The Frontier project work has generated some very compelling basement-hosted uranium exploration targets along the prolific Roughrider Mineralized Corridor. The CanAlaska team will actively seek exploration partners to help move the Frontier project toward discovery. With the uranium market continuing to strengthen and the baseline market fundamentals stronger than ever, we believe the Frontier project should garner considerable interest from explorers looking for a large and drill-ready project in the infrastructure-rich northeastern Athabasca Basin." Other News The Company also announces that it has granted incentive stock options to certain directors, officers, employees and consultants of the Company to purchase up to an aggregate of 6,060,000 common shares of the Company pursuant to CanAlaska's omnibus equity incentive plan. These options are exercisable for a period of three years at a price of $0.88 per share. Pursuant to TSX Venture Exchange (" TSXV") policies, 50,000 of these options granted to an investor relations consultant (see below) will vest as to 25% on each of 3, 6, 9 and 12 months from their date of grant. All other options are fully vested. The Company also announces that it has extended the term of its investor relations letter agreement with Rayleigh Capital Ltd. (" Rayleigh Capital") from December 31, 2024 to December 31, 2025, subject to approval from the TSXV (refer to the Company's news release of July 28, 2023). Either party is permitted to terminate the extended agreement upon providing the other party with 60 days' prior written notice of termination. Rayleigh Capital focuses on global investor relations for junior and small cap companies specializing at exposing companies to a wide audience of investment professionals. Under the extended agreement, commencing January 1, 2025, the Company will pay $8,500 per month (plus GST) to Rayleigh Capital to provide liaison, coordination, corporate growth strategy, communications and other services to CanAlaska. The fee to be paid by the Company to Rayleigh Capital under the agreement is for services only. The Company and Rayleigh Capital act at arm's length. Rayleigh Capital has no present interest, directly or indirectly, in the Company or its securities, except that it has today been granted stock options pursuant to CanAlaska's omnibus equity incentive plan. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available. Technical Disclosure - Historical Results The historical results contained within this news release have been captured from the Saskatchewan Mineral Assessment Database (SMAD) as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject projects. Management cautions that past results or discoveries on proximate land or neighboring properties are not necessarily indicative of the results that may be achieved on the subject properties. About CanAlaska Uranium CanAlaska is a leading explorer of uranium in the Athabasca Basin of Saskatchewan, Canada. With a project generator model, the Company has built a large portfolio of uranium projects in the Athabasca Basin. CanAlaska owns numerous uranium properties, totaling approximately 500,000 hectares, with clearly defined targets in the Athabasca Basin covering both basement and unconformity uranium deposit potential. The Company has recently concentrated on the West McArthur high-grade uranium expansion with targets in 2024 leading to significant success at Pike Zone. Fully financed for the upcoming 2025 drill season, CanAlaska is focused on Tier 1 Uranium deposit discovery and delineation in a safe and secure jurisdiction. The Company has the right team in place with a track record of discovery and projects that are located next to critical mine and mill infrastructure. The Company's head office is in Saskatoon, Saskatchewan, Canada with a satellite office in Vancouver, BC, Canada. The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents. On behalf of the Board of Directors "Cory Belyk" Cory Belyk, FGC CEO, President and Director CanAlaska Uranium Ltd. Contacts: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-looking information All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Actual events or results may differ materially from those projected in the forward-looking statements and the Company cautions against placing undue reliance thereon. The Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
Yahoo
5 days ago
- Business
- Yahoo
More strong drilling results to feed into coming resource update
Chibougamau Copper-Gold Project, Canada Results such as 4.4% CuEq over 9.1m at the Project's flagship Corner Bay deposit; These follow the recent high-grade results at the nearby Golden Eye prospect HIGHLIGHTS: Latest infill results from Corner Bay demonstrate continuous high-grade mineralisation: 9.1m @ 4.4% CuEq (4.1% Cu, 0.3g/t Au & 14.4g/t Ag) (CB-25-118) Including 3.4m @ 7.6% CuEq (7.0% Cu, 0.4g/t Au & 24.9g/t Ag) 5.8m @ 5.3% CuEq (4.4% Cu, 0.8g/t Au & 28.1g/t Ag) (CB-25-122) 2.8m @ 5.0% CuEq (4.6% Cu, 0.4g/t Au & 14.6g/t Ag) (CB-25-119) 2.8m @ 4.1% CuEq (3.8% Cu, 0.2g/t Au & 16.3g/t Ag) (CB-25-120) These results highlight the strong potential to grow the Indicated Resource as part of the upcoming Mineral Resource update on the Chibougamau Project (the 'Project'), which is scheduled for completion in the September quarter The current Corner Bay Indicated Resource is 2.7Mt at 2.9% CuEq and the Inferred Resource is 5.9Mt at 3.6% CuEq1 Infill drilling is almost complete on the shallowest parts of the Corner Bay deposit; this area is expected to help underpin the early part of any production schedule at the Project The Corner Bay results follow the recently announced high-grade assays from the Golden Eye prospect (see ASX release dated 10 June 2025), where Cygnus expects to complete an initial resource to be included in the overall Project Mineral Resource update The current total Mineral Resource for the Project is comprised of Measured and Indicated Resources of 3.6Mt at 3% CuEq and Inferred Resources of 7.2Mt at 3.8% CuEq1 Early engineering studies and permitting are underway The Project has a significant head start as a copper-gold development opportunity with well-established infrastructure including a 900,000tpa processing facilityTORONTO and PERTH, Australia, June 16, 2025 (GLOBE NEWSWIRE) -- Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) ('Cygnus' or the 'Company') is pleased to announce infill results from Corner Bay as the Company continues to execute its resource growth and conversion strategy at the Chibougamau Copper-Gold Project in Quebec. The recent results are from infill drilling on the upper main vein, which will likely be scheduled into the early part of the potential production profile of the Project. Recent results include significant intersections of: 9.1m @ 4.4% CuEq (4.1% Cu, 0.3g/t Au & 14.4g/t Ag) (CB-25-118); Including 3.4m @ 7.6% CuEq (7.0% Cu, 0.4g/t Au & 24.9g/t Ag); 5.8m @ 5.3% CuEq (4.4% Cu, 0.8g/t Au & 28.1g/t Ag) (CB-25-122); 2.8m @ 5.0% CuEq (4.6% Cu, 0.4g/t Au & 14.6g/t Ag) (CB-25-119); and 2.8m @ 4.1% CuEq (3.8% Cu, 0.2g/t Au & 16.3g/t Ag) (CB-25-120). These results will be incorporated in the upcoming Mineral Resource update as Cygnus seeks to convert Inferred Resources to Indicated Resources, with recent results reconciling well against the current block model. The Mineral Resource upgrade at Corner Bay is being completed in conjunction with new resource growth prospects such as Golden Eye. These are aimed at growing the current global resource, which stands at a Measured and Indicated Resource of 3.6Mt at 3% CuEq and Inferred Resources of 7.2Mt at 3.8% CuEq.1 The global Mineral Resource update for the Project is expected in Q3 2025, targeting both resource growth and conversion. With work on the resource well advanced, Cygnus is also progressing the Project along the pathway to development, in line with its value creation strategy. This work includes early geotechnical studies across potential development sites as well as advancing long-lead permitting items. This work aims to streamline and accelerate future study work. The Chibougamau area has well-established infrastructure giving the Project a significant head start as a copper-gold development opportunity. This infrastructure includes a 900,000tpa processing facility, local mining town, sealed highway, airport, regional rail infrastructure and 25kV hydro power to the processing site. Significantly, the Chibougamau processing facility is the only base metal processing facility within a 250km radius which includes a number of other advanced copper and gold projects. Figure 1: Drill core from CB-25-118 with 4.4% CuEq over 9.1m from 545m, including a high grade interval of 7.6% CuEq over 3.4m. Showing style and high-grade tenor of mineralisation at Corner Bay. Ongoing Drilling Cygnus is continuing its dual track strategy of resource growth and conversion. Work is in progress to generate additional drill targets surrounding the current high-grade copper-gold resource which can be targeted through low-risk brownfield exploration. Such work includes ongoing data compilation which is playing a significant role in unlocking this historic district. Figure 2: Location of Corner Bay recent infill drill results. Corner Bay is the primary resource at the Chibougamau Project withan Indicated Mineral Resource of 2.7Mt at 2.9% CuEq and Inferred Mineral Resource of 5.9Mt at 3.6% CuEq. This announcement has been authorised for release by the Board of Directors of Cygnus. David Southam Ernest Mast Media: Executive Chair President & Managing Director Paul Armstrong T: +61 8 6118 1627 T: +1 647 921 0501 Read Corporate E: E: T: +61 8 9388 1474 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. Forward Looking Statements This release may contain certain forward-looking statements and projections regarding estimates, resources and reserves; planned production and operating costs profiles; planned capital requirements; and planned strategies and corporate objectives. Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond Cygnus' control. Cygnus makes no representations and provides no warranties concerning the accuracy of the projections and disclaims any obligation to update or revise any forward-looking statements/projections based on new information, future events or otherwise except to the extent required by applicable laws. While the information contained in this release has been prepared in good faith, neither Cygnus or any of its directors, officers, agents, employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this release. Accordingly, to the maximum extent permitted by law, none of Cygnus, its directors, employees or agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the information or for any of the opinions contained in this release or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this release. End Notes The estimate of mineralisation at the Chibougamau Project is a foreign estimate prepared in accordance with CIM Standards. A competent person has not done sufficient work to classify the foreign estimate as a mineral resource in accordance with the JORC Code, and it is uncertain whether further evaluation and exploration will result in an estimate reportable under the JORC Code. Refer to Appendix C for a breakdown of the Foreign Mineral Resource Estimate. Qualified Persons and Compliance Statements The scientific and technical information in this announcement has been reviewed and approved by Mr Louis Beaupre, the Quebec Exploration Manager of Cygnus, a 'qualified person' as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Exploration Results disclosed in this announcement are also based on and fairly represent information and supporting documentation compiled by Mr Beaupre. Mr Beaupre holds options in Cygnus. Mr Beaupre is a member of the Ordre des ingenieurs du Quebec (P. Eng.), a Registered Overseas Professional Organisation as defined in the ASX Listing Rules, and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Beaupre consents to the inclusion in this release of the matters based on the information in the form and context in which they appear. The Company first announced the foreign estimate of mineralisation for the Chibougamau Project on 15 October 2024. The Company confirms that the supporting information included in the original announcement continues to apply and has not materially changed, notwithstanding the clarification announcement released by Cygnus on 28 January 2025 ('Clarification'). Cygnus confirms that (notwithstanding the Clarification) it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original announcement continue to apply and have not materially changed. Cygnus confirms that it is not in possession of any new information or data that materially impacts on the reliability of the estimates or Cygnus' ability to verify the foreign estimates as mineral resources in accordance with the JORC Code. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original market announcement. The information in this announcement that relates to previously reported Exploration Results at the Company's projects has been previously released by Cygnus in ASX Announcements as noted in the text and End Notes. Cygnus is not aware of any new information or data that materially affects the information in these announcements. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original market announcements. Individual grades for the metals included in the metal equivalents calculation for the foreign estimate are in Appendix C of this release. Metal equivalents for the foreign estimate of mineralisation have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz, with copper equivalents calculated based on the formula CuEq (%) = Cu(%) + (Au (g/t) x 0.77258). Individual grades for the metals included in the metal equivalents calculation for the exploration results are in Appendices A and B of this release. Metal equivalents for exploration results have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz and silver price of US$25/oz. Copper equivalents are calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.77258)+(Ag(g/t) x 0.00822). Gold equivalents are calculated based on the formula AuEq(g/t) = Au(g/t) +(Cu(%) x 1.29436)+(Ag(g/t) x 0.01064). Metallurgical recovery factors have been applied to the metal equivalents calculations, with copper metallurgical recovery assumed at 95% and precious metal (gold and silver) metallurgical recovery assumed at 85% based upon historical production at the Chibougamau Processing Facility, and the metallurgical results contained in Cygnus' announcement dated 28 January 2025. It is the Company's view that all elements in the metal equivalents calculations in respect of the foreign estimate and exploration results have a reasonable potential to be recovered and sold. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. APPENDIX A – Significant Intersections from Infill Drilling Coordinates given in UTM NAD83 (Zone 18). Intercept lengths may not add up due to rounding to the appropriate reporting precision. Significant intersections reported above 1% CuEq over widths of greater than 1m. True width estimated to be 80% of downhole thickness. Hole ID X Y Z Azi Dip Depth From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) CuEq (%) CB-25-108 554726 5509910 398 90 -47 660 337.3 339.7 2.4 2.9 0.3 10.3 3.2 & 395.6 396.5 0.8 5.1 0.3 18.4 5.5 & 472.9 475.3 2.4 2.3 0.2 7.7 2.5 CB-25-109 554876 5509948 400 77 -54 525 184.7 186.8 2.1 3.1 0.2 13.0 3.3 CB-25-117 554721 5509892 401 108 -63 558 457.5 460.0 2.5 4.0 0.1 11.7 4.1 CB-25-118 554721 5509892 401 112 -71 648 545.0 554.1 9.1 4.1 0.3 14.4 4.4 Including 549.6 553.1 3.4 7.0 0.4 24.9 7.6 CB-25-119 554618 5510020 394 119 -57 661 573.3 576.1 2.8 4.6 0.4 14.6 5.0 CB-25-120 554618 5510020 394 108 -66 657 626.0 628.8 2.8 3.8 0.2 16.3 4.1 CB-25-121 554618 5510020 394 117 -63 659 618.2 620.3 2.0 1.9 0.3 8.8 2.2 CB-25-122 554618 5510020 394 105 -62 633 583.8 589.5 5.8 4.4 0.8 28.1 5.3 APPENDIX B – Other Intersections from Exploration Drilling around Corner Bay Coordinates given in UTM NAD83 (Zone 18). Intercept lengths may not add up due to rounding to the appropriate reporting precision. Significant intersections reported above 1% CuEq over widths of greater than 1m. True width estimated to be 80% of downhole thickness. Drill holes were a mix of infill and step outs. All infill holes hit mineralization. Hole ID X Y Z Azi Dip Depth From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) CuEq (%) CB-24-101 554757 5511009 389 80 -50 525 No Significant Intercept CB-24-102 554653 5510648 381 90 -67 954 No Significant Intercept CB-24-107 554726 5509910 400 91 -57 480 458.6 460.0 1.4 2.1 0.2 6.6 2.3 CB-25-110 554876 5509948 400 97 -48 474 264.8 267.0 2.2 1.8 0.1 5.2 1.9 CB-25-111 554920 5509857 400 103 -58 504 441.8 444.2 2.4 4.0 0.3 12.2 4.3 CB-25-112 555049 5509802 400 90 -45 303 244.7 247.4 2.7 1.1 0.0 4.3 1.1 CB-25-113 554905 5509725 400 96 -52 471 No Significant Intercept CB-25-114 554905 5509725 400 96 -63 564 No Significant Intercept CB-25-115 554876 5509948 400 120 -61 621 313.0 314.8 1.9 1.6 0.1 6.1 1.7 333.2 335.0 1.8 4.5 0.1 16.3 4.7 583.0 586.5 3.5 0.9 0.1 2.2 1.0 CB-25-116 554826 5509709 397 90 -64 645 535.0 537.9 2.9 0.8 0.1 2.4 0.9 606.3 607.5 1.2 1.3 0.1 3.9 1.5 APPENDIX C – Chibougamau Copper-Gold Project – Foreign Mineral Resource Estimate Disclosures as at 30 March 2022 Deposit Category Tonnes (k) Cu Grade (%) Au Grade (g/t) Cu Metal (kt) Au Metal (koz) CuEq Grade (%) Corner Bay (2022) Indicated 2,700 2.7 0.3 71 22 2.9 Inferred 5,900 3.4 0.3 201 51 3.6 Devlin (2022) Measured 120 2.7 0.3 3 1 2.9 Indicated 660 2.1 0.2 14 4 2.3 Measured & Indicated 780 2.2 0.2 17 5 2.4 Inferred 480 1.8 0.2 9 3 2.0 Joe Mann (2022) Inferred 610 0.2 6.8 1 133 5.5 Cedar Bay (2018) Indicated 130 1.6 9.4 2 39 8.9 Inferred 230 2.1 8.3 5 61 8.5 Total Measured & Indicated 3,600 2.5 0.6 90 66 3.0 Inferred 7,200 3.0 1.1 216 248 3.8 APPENDIX D – 2012 JORC Table 1 Section 1 Sampling Techniques and Data Criteria JORC Code explanation Commentary Sampling techniques Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. All drilling conducted by Cygnus Metals at the Chibougamau Project was completed under the supervision of a registered professional geologist as a Qualified Person (QP) who is responsible and accountable for the planning, execution, and supervision of all exploration activity as well as the implementation of quality assurance programs and reporting. All Cygnus drilling reported is NQ size (47.8 mm diameter). Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used. All sample collection, core logging, and specific gravity determinations were completed by Cygnus Metals under the supervision of a professionally qualified registered geologist. NQ core was marked for splitting during logging and is sawn using a diamond core saw with a mounted jig to assure the core is cut lengthwise into equal halves. Half of the cut core is placed in clean individual plastic bags with the appropriate sample tag. QA/QC is done in-house by Cygnus Metals geologists with oversight from the Senior Geologist. The check samples (blanks and standards – 4% of total samples with another 2% of core duplicates taken on half split core) that were inserted into the sample batches are verified against their certified values and are deemed a pass if they are within 3 standard deviations of the certified value. The duplicates are evaluated against each other to determine mineralization distribution (nugget). If there are large discrepancies in the check samples, then the entire batch is requested to be re-assayed. The samples are then placed in bags for shipment to the offsite laboratory's facility. The remaining half of the core is retained and incorporated into Cygnus's secure, core library located on the property. Aspects of the determination of mineralisation that are Material to the Public cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. Industry standard sampling practices were used with sample lengths ranging from 0.3 m to 1.0 m and respected geological contacts. Sample tags were placed at the beginning of each sample interval and the tag numbers were recorded in an MS Excel database. Sampling practice is considered to be appropriate to the geology and style of mineralisation. Drilling techniques Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Diamond core was drilled using surface diamond rigs with industry recognised contractors Miikan Drilling. Miikan is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nations community of Ouje-Bougoumou and the First Nations community of Mistissini both located in the Eeyou Istchee territory. Drilling was conducted using NQ core size. Directional surveys have been taken at 50m intervals. Drill sample recovery Method of recording and assessing core and chip sample recoveries and results taken to maximise sample recovery and ensure representative nature of the a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Diamond core recovery was measured for each run and calculated as a percentage of the drilled interval. Overall, the core recoveries are excellent in the Chibougamau area. As a result, no bias exists. Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. All core was geologically and geotechnically logged. Lithology, veining, alteration and mineralisation are recorded in multiple tables of the drillhole database. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. Geological logging of core is qualitative and descriptive in nature. The total length and percentage of the relevant intersections logged. 100% of the core has been logged. Sub-sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or all sample types, the nature, quality and appropriateness of the sample preparation control procedures adopted for all sub-sampling stages to maximise representivity of taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sample sizes are appropriate to the grain size of the material being sampled. The NQ diameter the core was sawn in half following a sample cutting line determined by geologists during logging and submitted for analysis on nominal 1m intervals or defined by geological boundaries determined by the logging geologist. Each core sample is assigned a tag with a unique identifying number. Sample lengths are typically one metre but can be depending on zone mineralogy and boundaries. This sampling technique is industry standard and deemed appropriate. Sample sizes are considered appropriate to grain size of the materials being sampled. Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. Sample (NQ size half core) preparation and fire assay analysis were done at Bureau Veritas Commodities Canada Ltd ('BV') in Timmins, Ontario, and ICP-ES multi-elements analysis was done at BV in Vancouver, B.C. Samples were weighed, dried, crushed to 70% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 µm. Samples are fire assayed for gold (Au) (50 g) and multi-acid digestion ICP-ES finish, for 23 elements (including key elements Ag, Cu, Mo). Samples with visible gold or likely to have gold grains are analysed with metallic screen fire assay. Samples assaying >10.0 g/t Au are re-analysed with a gravimetric finish using a 50 g charge. Samples assaying >10% Cu are re-analysed with a sodium peroxide fusion with ICP-ES analysis using a 0.25 g charge. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. None used. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. At Bureau Veritas, laboratory QC procedures involve the use of internal certified reference material as assay standards, along with blanks, duplicates and replicates. Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel. Verification of sampling was made by Cygnus Metals and other professional consultant geologists. The use of twinned holes. No hole is twinned. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. All logging data was completed, core marked up, logging and sampling data was entered directly into the database. The logged data is stored on the site server directly. Discuss any adjustment to assay data. There was no adjustment to the assay data. Location of data points Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. The location of the drill holes and the aiming points for the orientation of the drill holes were indicated on the ground using identified stakes. The stakes marking the location of the drillholes were set up and located with a Garmin GPS model 'GPSmap 62s' (4m accuracy). Surveys are collected using a Reflex EZ-Shot® single-shot electronic instrument with readings collected at intervals of approximately every 30 m downhole plus a reading at the bottom of the hole. Specification of the grid system used. The grid system used is UTM NAD83 (Zone 18). Quality and adequacy of topographic control. A Digital Terrane Model (DTM) has been used to accurately plot the vertical position of the holes, which is considered to provide an adequate level of topographic control. Data spacing and distribution Data spacing for reporting of Exploration Results. The drill spacing for recent drilling is considered appropriate for this type of exploration. Due to the historic nature and mix of underground and surface drilling the drill hole spacing for historic drill results is highly variable. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. No resource estimation is made. Whether sample compositing has been applied. No sample compositing has been applied. Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. Recent drilling is orientated approximately at right angles to the currently interpreted strike of the known interpreted mineralisation. Due to the historic nature of the drilling the drill hole orientation for historic drill results is highly variable. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. No bias is considered to have been introduced by the existing sampling orientation. Sample security The measures taken to ensure sample security. Core was placed in wooden core boxes close to the drill rig by the drilling contractor. The core was collected daily by the drilling contractor and delivered to the secure core logging facility. Access to the core logging facility is limited to Cygnus employees or designates. Audits or reviews The results of any audits or reviews of sampling techniques and data. No audits or reviews of sampling techniques or data have been undertaken, therefore information on audits or reviews is not yet available. Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code Explanation Commentary Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The data reported within this announcement is from the Chibougamau Project. The Chibougamau project consists of 3 properties which include: Copper Rand, 14,383 ha (15 mining concession and 311 exploration claims). Includes Cedar Bay, Golden Eye and Colline. Corner Bay – Devlin (1 mining license, 141 exploration claims owned 100% by CBAY and 17 claims owned 56.4% by CBAY/43.6% Pan American Silver) Joe Mann (2 mining concessions, 82 claims owned 100% by CBAY, and 68 claims and 1 mining concession owned 65% by CBAY/35% by SOQUEM) CBAY Minerals Inc. ('CBAY'), a wholly owned subsidiary of Cygnus, is the owner of all claims and leases, except where otherwise noted above. The properties collectively making up the Project are in good standing based on the Ministry of Energy and Natural Resources (Ministère de l'Énergie et des Ressources Naturelles) GESTIM claim management system of the Government of Québec. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. All tenure is in good standing. Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. The Chibougamau Copper and Gold project comprising Corner Bay, Devlin, Cedar Bay and Joe Mann has seen an extensive exploration history dating back to the early 1900s. The Preliminary Economic Assessment (as referred to in the Company's announcement of 15 October 2024) provides a detailed history of the exploration activities undertaken by previous explorers. Corner Bay was first identified as a prospect in 1956 1956 – 1972 eight drilling programs totalling 1,463 m and various geophysical and electromagnetic (EM) surveys 1973 – 1981 Riocanex and Flanagan McAdam: ground geophysical surveys and 43 diamond drill holes 1982 – 1984 Riocanex and Corner Bay Exploration: 38 drill holes and metallurgical test work 1988 – 1991 Corner Bay Exploration: diamond drilling, geophysical surveys and geological characterisation with initial MRE 1992 – 1994 SOQUEM optioned and acquired a 30% interest, and completed diamond drilling 1994 Explorations Cache Inc and Resources MSV Inc: diamond drilling 2004 – 2006 GéoNova and MSV: 98 diamond drill holes and first Technical Report on the Corner Bay project reporting a MRE 2007 – 2009 Campbell: diamond drilling and bulk sample 2012 - 2019 CBAY / AmAuCu: diamond drilling and MRE Devlin identified in 1972 by airborne survey flown by the MERN 1979 – 1981 diamond drilling, geophysical surveys 1981 development commenced Joe Mann identified in 1950 with the commencement of mining activities occurring in 1956 The Joe Mann mine operated underground during three different periods from 1956 to 2007 In July 2012, Resources Jessie acquired the Joe Mann mine property, but conducted only surface exploration work Cedar Bay was discovered prior to 1927 by Chibougamau McKenzie Mines Ltd From initial discovery to 2013 various surface and underground drilling campaigns and geophysical surveys undertaken by various companies Colline was first discovered with mapping and sampling and then drilled in the 1950s with follow up drilling in 1955. In the 1950s a shaft was sunk but the deposit was never mined The deposit was later tested with three drill holes and six regional drill holes throughout two drilling campaigns in 1984 and 1986/87 Exploration at Colline has been halted historically with the discovery of and focus on other deposits in the region Golden Eye (previously known as Dore Ramp) was drilled in a few different phases from 1984 to 1992. A total of 47 drill holes from surface are reported during that period A double ramp of approximately 1 kilometre was excavated in 1991-92 to a vertical depth of 160 meters Underground drilling campaign of 46 holes totalling 10,200 meters tested the deposit mainly to a depth of 240 meters (only five holes tested the deposit between 300 and 600 meters) Geology Deposit type, geological setting and style of mineralisation. Corner Bay and Devlin are located at the northeastern extremity of the Abitibi subprovince in the Superior province of the Canadian Shield and are examples of Chibougamau-type copper-gold deposits. The Abitibi subprovince is considered as one of the largest and best-preserved greenstone belts in the world and hosts numerous gold and base metal deposits. The Corner Bay deposit is located on the southern flank of the Doré Lake Complex (DLC). It is hosted by a N 15° trending shear zone more or less continuous with a strong 75° to 85° dip towards the west. The host anorthosite rock is sheared and sericitized over widths of 2 m to 25 m. The deposit is cut by a diabase dyke and is limited to the north by a fault structure and to the south by the LaChib deformation zone. The Corner Bay deposit consists of three main mineralized lodes (subparallel Main Lode 1 and Main Lode 2 above the dyke, and Main Lode below the dyke that make up the bulk of the deposit. The Corner Bay deposit has been traced over a strike length to over 1,100 m to a depth of 1,350 m and remains open at depth. The mineralization is characterized by veins and/or lenses of massive to semi-massive sulphides associated with a brecciated to locally massive quartz-calcite material. The sulphide assemblage is composed of chalcopyrite, pyrite, and pyrrhotite with lesser amounts of molybdenite and sphalerite. Late remobilized quartz-chalcopyrite-pyrite veins occur in a wide halo around the main mineralization zones. Devlin is a flat-lying, copper-rich lodes-hosted deposit in a polygenic igneous breccia that is less than 100 m from the surface. The tabular bodies have been modelled as four nearly horizontal lodes: a more continuous lower zone and three smaller lodes comprising the upper zone. Mineralization is reflected as a fracture zone often composed of two or more sulphide-quartz lodes and stringers. Thickness of the mineralized zones range from 0.5 m to 4.4 m. It has been diluted during modelling to reflect a minimum mining height of 1.8 m. The Joe Mann deposit is characterized by east-west striking shear hosted lodes that extend beyond 1,000 m vertically with mineralization identified over a 3 km strike length. These shear zones form part of the Opawica-Guercheville deformation zone, a major deformation corridor cutting the mafic volcanic rocks of the Obatogamau Formation in the north part of the Caopatina Segment. The gabbro sill hosts the Main Zone and the West Zone at the mine, while the South Zone is found in the rhyolite. These three subvertical E-W (N275°/85°) ductile-brittle shear zones are sub-parallel to stratigraphy and to one another, with up to 140 m to 170 m of separation between them. These shear zones are hosted within a stratigraphic package composed of iron-magnesium (Fe-Mg) carbonate and sericite altered gabbro sills, sheared basalts, and intermediate to felsic tuffs intruded by various felsic intrusions. The Joe Mann gold mineralization is hosted by decimetre scale quartz-carbonate lodes (Dion and Guha 1988). The lodes are mineralized with pyrite, pyrrhotite, and chalcopyrite disposed in lens and lodelets parallel to schistosity, and occasionally visible gold. There are some other minor, mineralized structures, e.g., North and South-South Zones, with limited vertical and horizontal extensions. The Cedar Bay deposit is hosted by a sheared and altered gabbroic-anorthosite of the DLC. The meta-anorthosites are typically comprised of 70% to 90% plagioclase, which has been heavily altered to epidote and albite. The Cedar Bay deposit generally has a northwest strike and dips steeply to the northeast. The gold-copper sulphide veins average approximately 1.5 m in width and are tens to hundreds of metres in strike length. The individual mineralization lenses have approximately 3:1 down dip to along strike anisotropies. The veins are comprised of pyrite and chalcopyrite with some gold and minor sphalerite. The main alteration minerals are chlorite, quartz, and carbonates. Locally, pyrrhotite dominates the vein mineral assemblage. Pyrrhotite has a very heterogeneous distribution within the mineralization. Drill hole Information A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. All requisite drill hole information is tabulated elsewhere in this release. Refer Appendices A and B of the body text. Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. For recent results, drill hole intersections are reported above a lower cut-off grade of 1% CuEq over greater than 1m width. Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. A maximum of 1m internal waste was allowed. The assumptions used for any reporting of metal equivalent values should be clearly stated. Individual grades for the metals included in the metal equivalents calculation for the exploration results are in Appendices A and B of this release. Metal equivalents for exploration results have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz and silver price of US$25/oz. Copper equivalents are calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.77258)+(Ag(g/t) x 0.00822). Gold equivalents are calculated based on the formula AuEq(g/t) = Au(g/t) + (Cu(%) x 1.29436) + (Ag(g/t) x 0.01064). Metallurgical recovery factors have been applied to the metal equivalents calculations, with copper metallurgical recovery assumed at 95% and precious metal (gold and silver) metallurgical recovery assumed at 85% based upon historical production at the Chibougamau Processing Facility, and the metallurgical results contained in Cygnus' announcement dated 28 January 2025. It is the Company's view that all elements in the metal equivalent calculations have a reasonable potential to be recovered and sold. Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). All intersections reported in the body of this release are down hole. For recent drill holes, holes are drilled as close to orthogonal to the plane of the mineralized lodes as possible. True width is estimated to be about 80% of the downhole drill intersection. Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include,but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Refer Figure 3 Plan view of recent infill drilling at Corner BayBalanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. Reported results from infill drilling at Corner Bay includes 8 holes for 5,000m. Reported results from exploration drilling at Corner Bay includes 10 holes for 5,541m. All infill and exploration holes are included in Appendices A and B with all results greater than 1% CuEq over greater than 1m width reported. Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. There is no other substantive exploration data. Further work The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. The Company plans to conduct drill testing of additional mineralisation as well as step out drilling of existing lodes. More information is presented in the body of this report. Diagrams in the main body of this release show areas of possible resource extension on existing lodes. The Company continues to identify and assess multiple other target areas within the property boundary for additional resources. Figure 3: Plan view of recent infill drilling at Corner Bay Figures accompanying this announcement are available at: _____________1 The estimate of mineralisation at the Chibougamau Project is a foreign estimate prepared in accordance with CIM Standards and is not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the foreign estimate as a mineral resource in accordance with the JORC Code, and it is uncertain that following evaluation and/or further exploration work that the foreign estimate will be able to be reported as a mineral resource or ore reserve in accordance with the JORC Code.
Globe and Mail
5 days ago
- Business
- Globe and Mail
Besra Gold Inc. Introduces to David Potter Independent Non-Executive Chair of Besra
Melbourne, Victoria--(Newsfile Corp. - June 16, 2025) - Besra Gold Inc. (ASX: BEZ) refers members to the below link, which introduces its newly appointed Independent Chair, Mr. David Potter. Concise resume of Mr. Potter Mr. Potter has extensive experience in the resource sector, spanning over 30 years, during which he has built and led a diverse range of specialist teams providing technical, financial, and strategic support for multiple start-ups, operations, feasibility studies, and due diligence. This wealth of his hands-on operational experience is combined with strong corporate, legal and finance acumen, built from continued education as well as executive experience at Reed Resources, Excelsior Gold and Round Oak Minerals (a 100% owned subsidiary of Washington Soul Pattinson), as well as being a director of several private entities. Mr. Potter currently works as a private resource sector consultant advising on technical, finance and strategic matters. He has a Bachelor of Science (geology), a Master of Science (mineral economics) and a diploma in Financial Investment and Analysis. As a member of the Australasian Institute of Mining and Metallurgy, he is able to act as a JORC competent person for a variety of deposit styles.
