Chairman’s Address to the Scheme Meeting

TORONTO and PERTH, Western Australia, Sept. 18, 2026 (GLOBE NEWSWIRE) — Cygnus Metals Limited (ASX:CY5; TSXV:CYG; OTCQB:CYGGF) (Cygnus) refers to the proposed transaction under which Central Asia Metals PLC (AIM:CAML) will acquire 100% of the shares in Cygnus pursuant to a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) (Scheme).

Capitalised terms in this announcement that are not otherwise defined have the meanings given to them in the Scheme Booklet dated 13 August 2026.

In accordance with ASX Listing Rule 3.13.3, attached to this announcement is the Chairman’s address to be presented at the Scheme Meeting being held today at 2.00pm (AWST).

Cygnus Shareholders may attend, participate and vote at the Scheme Meeting in person at Level 39, 152-158 St Georges Terrace, Perth WA 6000. Cygnus will announce the results of the Scheme Meeting on the ASX shortly after the conclusion of the Scheme Meeting.

Further information

If you require further information or have any questions in relation to the Scheme or the Scheme Meeting, please contact Cygnus’ Scheme Information Line on 1300 103 401 (from within Australia) or +61 2 9066 4063 (from outside Australia), Monday to Friday (excluding Australian public holidays) between 8:30am to 5:00pm (AWST).

This announcement is authorised for release by the Board of Cygnus Metals Limited.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this announcement may constitute “forward-looking information” within the meaning of applicable securities laws. Examples of forward-looking statements in this announcement include, among others, statements regarding the completion of the Scheme and the remaining related steps therefor, including timing thereof. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or timing to differ materially from those anticipated or implied by such forward-looking information. Information about the risks and assumptions affecting the forward-looking information herein can be found in the “Risk Factors” section in the Scheme Booklet dated 13 August 2026, a copy of which is available under Cygnus’ profile on SEDAR+ at www.sedarplus.ca. All of the forward-looking information in this announcement is qualified by these cautionary statements. Cygnus assumes no obligation to publicly update or revise such information, except as may be required by applicable law and the rules of the ASX and the TSX Venture Exchange.

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.