Issue of Performance Rights

TORONTO, Dec. 08, 2025 (GLOBE NEWSWIRE) -- Cygnus Metals Limited (“Cygnus” or the “Company”) advises that it issued an aggregate of 202,500 performance rights (“Performance Rights”) to employees on 27 November 2025 under the Company’s Omnibus Equity Incentive Plan (“Plan”).

Shareholders approved the Plan and the issue of Performance Rights to directors at the Company’s annual general meeting held on May 14, 2025. The Performance Rights to employees were issued on the same terms and conditions as the director Performance Rights, as set out in the notice of annual general meeting released to ASX on April 14, 2025.

The Performance Rights vest on the later of (a) one year after their date of issue, and (b) the successful completion of specific key performance objectives within three years from the date of issue. Each vested Performance Right is exercisable to one fully paid ordinary share in the capital of the Company (net of applicable withholdings) and will expire on May 31, 2030 unless exercised on or before this date.

The objective of Cygnus’ Plan is to promote the long-term success of the Company and the creation of shareholder value by aligning the interests of eligible persons under the Plan with the interests of the Company.

This announcement has been authorised for release by the Executive Chair.

David Southam Executive Chair T: [phone] E: [e-mail]

Ernest Mast President & Managing Director T: [phone] E: [e-mail]

Media: Paul Armstrong Read Corporate [phone]

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5, TSXV: CYG) 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.