Raptor Resources (RAP:AU) has announced Raptor Completes Further Drilling at Chester Project
Download the PDF here.
Raptor Resources (RAP:AU) has announced Raptor Completes Further Drilling at Chester Project
Download the PDF here.
A deadly confrontation at Mar-a-Lago over the weekend is the latest in a string of high-profile security incidents involving President Donald Trump, as former Secret Service officials warn that low-tech, lone actors now pose one of the toughest challenges to presidential protection.
‘It should be quite clear to all of us by now that Trump is the most threatened president in the history of the U.S.,’ former Secret Service agent William ‘Bill’ Gage told Fox News Digital Monday, pointing to multiple high-profile incidents in recent years. Unlike past presidencies, where threat levels often subsided over time, Gage said, ‘the longer he’s president, the more these attacks keep happening.’
Gage said the most difficult cases to prevent are often the least sophisticated. The recent incidents, he noted, were ‘super low-tech attacks by people with zero training,’ using rudimentary weapons. ‘If you were standing behind them in line at Starbucks, you wouldn’t have given them a second look,’ he said.
Gage said the threat landscape shifted over the course of his 12-year career as a Secret Service agent. When he joined the Secret Service in 2002, he said the agency was moving away from what he described as the traditional ‘lone gunman’ model — figures like Lee Harvey Oswald, who assassinated John F. Kennedy, or international militants such as ‘Carlos the Jackal,’ one of the world’s most wanted terrorists in the ’70s and 80s — and adapting to a post-9/11 world focused on coordinated terrorist networks like al Qaeda and later ISIS.
‘But if you look at Butler and the two incidents at Mar-a-Lago, those were super low-tech attacks,’ Gage said. ‘The low-tech actors are the ones that tend to slip through the cracks.’
He also warned of a potential copycat effect when details of such incidents become public.
‘If it were up to the Secret Service, they would never report any of these incidents ever,’ Gage said, arguing that widespread coverage allows others to ‘study what happened’ and attempt to refine it.
In today’s hyperconnected political climate, he said, that dynamic adds another layer of complexity for agents trying to stop the next threat before it materializes.
In the early hours of Sunday, Feb. 22, 2026, a 21-year-old man identified as Austin Tucker Martin of North Carolina was shot and killed by U.S. Secret Service agents and a local sheriff’s deputy after entering the secure perimeter of Trump’s Mar-a-Lago resort in Palm Beach, Florida.
Authorities say Martin drove through the north gate carrying a shotgun and a gasoline can. After being ordered to drop both, he dropped the can but raised the shotgun toward officers, who fired and killed him at the scene. Trump and First lady Melania Trump were in Washington at the time.
The incident marked the third highly publicized security encounter involving Trump in less than two years. In July 2024, a gunman opened fire at a campaign rally in Butler, Pennsylvania, grazing Trump’s ear and killing an attendee before being shot by a Secret Service sniper. In September 2024, a man armed with a rifle was confronted by agents near Trump’s golf course while he was playing; that suspect was later convicted on attempted assassination charges.
While the incidents have drawn intense attention, former Deputy Assistant Director Don Mihalek said the latest Mar-a-Lago intrusion does not necessarily signal a breakdown in protective systems.
‘He got through an exterior gate of an active club,’ Mihalek told Fox News Digital. ‘This wasn’t someone reaching the president’s residence.’ Agents confronted the suspect within seconds, he said, describing the rapid response as evidence that overlapping security layers functioned as designed.
Mihalek said presidential protection relies on multiple rings of security because outer perimeters at properties like Mar-a-Lago cannot be sealed in the same way as the White House. ‘If he ended up in the president’s house on Mar-a-Lago, that might be a different conversation,’ he said.
He also cautioned against viewing recent incidents in isolation, noting that presidents routinely face roughly 2,000 threats per year, most of which are mitigated before the public ever becomes aware of them. ‘These just happen to be very public instances,’ Mihalek said, arguing that the social media era amplifies perceptions of escalation.
Mihalek pointed to last summer’s rally shooting in Butler as an example of how early intervention can be decisive, noting that local law enforcement had reportedly identified the suspect prior to the attack. ‘If somebody had walked up and said, ‘Hey, who are you?’ we wouldn’t be talking about Butler,’ he said.
As Trump prepares to address Congress at the State of the Union, both former officials said the security posture at the Capitol is unlikely to change in response to the weekend incident.
The annual address is designated a National Special Security Event — the highest level of federal security planning — triggering coordination among the Secret Service, U.S. Capitol Police, FBI, War Department and other agencies. The designation allows for expanded perimeter controls, airspace restrictions and continuity-of-government planning.
Gage, who previously led advance planning for State of the Union addresses, said the event operates under a well-established security ‘blueprint’ built to account for worst-case scenarios. ‘There’s really no way to increase it anymore,’ he said.
Both former officials said the defining challenge for presidential protection today is unpredictability: individuals with minimal training, rudimentary weapons and the ability to find reinforcement online. Unlike organized extremist networks, such actors may leave few detectable signals before acting.
As the Russia-Ukraine war enters its fourth year since Moscow’s full-scale invasion in 2022, United Kingdom Prime Minister Keir Starmer referred to the ongoing conflict as ‘the most critical issue of our age,’ according to a press release announcing additional UK assistance for Ukraine.
‘On this grim anniversary, our message to the Ukrainian people is simple: Britain is with you, stronger than ever. That is why we are announcing new support today and we will continue to support Ukraine for as long as it takes,’ Starmer said, according to the press release.
‘For all the noise in world affairs today, this war remains the most critical issue of our age. It asks the question of whether Ukrainian and European freedom will endure. Our answer, together, is unequivocal. Russia is not winning this war. They will not win this war. Ukraine’s courage continues to hold the line for our shared values, in the face of Putin’s aggression,’ Starmer continued. ‘We will stand by their side, until a just and lasting peace – and beyond. Slava Ukraini.’
Former UK Prime Minister Boris Johnson has suggested that the Western World is ‘pussyfooting around.’
‘Putin will not stop the slaughter until he faces much greater pressure. So for heaven’s sake let’s get on with it. Impound his entire shadow fleet. Unfreeze all his frozen assets and give them to Ukraine. Give the Ukrainians the weapons they need to take out all the Russian drone factories. Do all of it now. Putin will not negotiate sincerely until he feels he has no choice,’ Johnson wrote in a post on X.
‘The Ukrainians fight like heroes while we in the West pussyfoot and delay. The West can end the war this year — if we stop pussyfooting around,’ he said.
President Donald Trump’s administration has been attempting to help broker peace between Russia and Ukraine.
In its statement, the UK government said the country’s security is closely tied to Ukraine’s fate and outlined new assistance, including £20 million (about $27 million) in emergency energy funding to help repair and protect Ukraine’s power grid and expand generation capacity.
The package also includes £5.7 million (around $7.7 million) in humanitarian aid for frontline communities, including people requiring evacuation and those affected by airstrikes or internal displacement, according to the release.
Four years into Russia’s full-scale invasion, the war in Ukraine has settled into a grinding conflict defined by high casualties and incremental territorial shifts. Russia still controls roughly one-fifth of Ukrainian territory, while Kyiv has recently clawed back limited ground in counteroffensives. Military estimates put Russian losses at about 1.2 million casualties since 2022, with Ukrainian losses between 500,000 and 600,000, underscoring the scale of attrition on both sides.
Diplomacy has intensified alongside the fighting. President Donald Trump met Russian President Vladimir Putin in Alaska last August for high-stakes talks aimed at advancing negotiations. Ukrainian President Volodymyr Zelenskyy has traveled to Washington multiple times since Trump returned to office, including a contentious Oval Office meeting in Feb. 2025 and a follow-up visit later in the year.
The most recent U.S. engagement with both sides came during trilateral negotiations in Abu Dhabi earlier this year and more taking place in Geneva on Feb. 17–18, where special envoy Steve Witkoff met with Russian and Ukrainian delegations as part of ongoing efforts to broker a settlement.
As the war enters its fifth year, former officials and analysts say the next phase could unfold along three possible paths: prolonged stalemate, shifting Ukrainian momentum, or a dangerous erosion of Western resolve.
The most immediate trajectory is continuation. The war remains defined by attrition, with neither side delivering a decisive blow and negotiations producing little progress.
Ret. U.S. Air Force Gen. Philip Breedlove, former NATO supreme allied commander of Europe, said Moscow is not winning despite its territorial hold, ‘There isn’t a winner right now.’
‘Russia, supposedly a world superpower with one of the world’s probably top three world armies and top four world air forces, in 12 years has gained about 20% of Ukraine. And they have lost some, say, over 1.2 million in the conflict so far. It’s a conflict that Ukraine is working hard to manage. It’s also a conflict that Russia is not, I repeat, not winning,’ he said.
Recent battlefield developments suggest another possibility. Breedlove pointed to rapid Ukrainian gains following disruptions in Russia’s command-and-control systems.
‘In the last three or four days, because of the loss of the Starlink command and control system, Ukraine launched an offensive, and they have snatched back months of Russian gains in three days, three-pronged push, hundreds of square miles regained, and Russia is backing up in several places right now.’
Carrie Filipetti, executive director of the Vandenberg Coalition, said such advances could shift leverage at the negotiating table. ‘Ukraine’s recent advances to recapture its territory is yet another signal that Putin’s war machine is continuing to atrophy as the world marks the fourth year of Russia’s full-scale invasion. Russia’s latest territorial losses shows that far from being invincible, Putin and his army are beginning to experience real failures in terms of capability and resources.’
She added that momentum matters. ‘Not only is this the most significant Ukrainian advance on the battlefield in more than two years, its importance may be felt even more concretely at the diplomatic table. Finding a lasting and equitable peace deal through negotiation is often about momentum – and right now the Ukrainians have it.’
If sustained, such gains could alter Moscow’s calculations and give Kyiv a stronger footing in negotiations as long as Ukraine has strong U.S. support, Breedlove argues, ‘The first thing and the most important thing Ukraine needs is a declaratory statement by the West and specifically by the United States that we are not going to allow Russia to win in Ukraine, and we will give Ukraine what it needs to stop Russia… where Putin hears it loud and clear and where the people of Russia hear it loud and clear that is a game changer. And I think that’s when Mr. Putin is going to have to make some tough decisions.’
A third path worries some Western strategists: that inconsistent support could prolong or tilt the conflict in Russia’s favor.
Heather Nauert, who served as spokesperson for the U.S. Department of State from 2017 to 2019, framed the war as more than a territorial dispute. ‘As we now enter the fifth year of Putin’s war in Ukraine, we’re reminded that this conflict has never been only about territory — it’s about identity, faith, and the future of a free nation. Russia has destroyed more than 600 churches, persecuted millions of Ukrainian Christians under occupation, and abducted more than 19,000 children in an effort to break Ukraine’s spirit. President Trump’s push for a lasting peace must be backed by strength and accountability – one that protects innocent lives, defends religious freedom and brings stolen children home.’
Ret. Lt. Gen. Richard Newton said deterrence remains central. ‘Four years into this horrific war, the fundamental lesson remains unchanged: Peace is only possible when strength shapes the terms. Putin will continue to savagely test our resolve until the costs of his aggression outweigh any possible gain.’
‘What Ukraine needs isn’t gestures from the world, but instead, unwavering support from the U.S. and Europe that convinces Moscow further advances carry unacceptable consequences,’ he argued. ‘Russia must not prevail against Ukraine and the West. What are needed are credible security guarantees, robust offensive and defensive capabilities and a unified, long-term commitment by the West to ensure deterrence isn’t an elusive goal, but a lasting reality.’
Breedlove warned that negotiations alone will not shift the balance. ‘The most dangerous scenario is that we do not do what we should do in Ukraine and Russia takes over Ukraine because they’re not done.We have a policy of peace through strength and we’re using it in Iran. We’ve used it in Venezuela. We’re using it with oil tankers around the world… But when it comes to Putin and Ukraine, we are peace through weakness.’
‘Mr. Putin is making a point that he’s in charge in Ukraine, not the West and certainly not America. And so we need to change that dynamic. You got good guys and you got bad guys. And right now the bad guys have told America to take a hike. So now, rather than telling them what to do, we are going to the good guys and saying, you have to give up more because the bad guys are not playing well in the sandbox. That’s peace through weakness, not peace through strength,’ Breedlove concluded.
The UK government is set to unseal a first batch of key documents relating to Peter Mandelson’s appointment as ambassador to the U.S., MPs were told Monday.
The disclosure, set for ‘early March,’ follows a Commons motion ordering the release of files related to Mandelson’s vetting for the post and comes in the wake of his arrest on suspicion of misconduct in public office.
‘The government expects to be able to publish the first tranche of documents very shortly, in early March,’ Darren Jones, chief secretary to Prime Minister Keir Starmer, told the House of Commons.
‘I should, however, inform the House that it remains the case that a subset of this first tranche of documents is currently subject to the ongoing Metropolitan Police investigation,’ he said.
Jones added that ‘a small portion of that material engages matters of national security or international relations’ and would be handled through the Intelligence and Security Committee, in line with the will of the House.
As previously reported by Fox News Digital, a Metropolitan Police spokesperson confirmed in a statement Monday that officers had arrested a 72-year-old man at an address in Camden and took him to a London police station for questioning.
The arrest follows revelations about Mandelson’s links to convicted sex offender Jeffrey Epstein and comes days after former Prince Andrew was detained.
The investigation relates to allegations that Mandelson shared confidential government information with Epstein while serving as business secretary.
Police had opened a criminal inquiry after the government passed on communications between the former ambassador and the disgraced financier.
Emails released by the U.S. Department of Justice also appeared to show Mandelson sharing market-sensitive information with Epstein during the 2008 financial crisis.
Mandelson has denied wrongdoing and said he does not recall the alleged disclosures and apologized to Epstein’s victims for maintaining contact with him after his conviction.
On Feb. 4, Starmer told the Commons: ‘I’m as angry as anyone about what Mandelson has been up to. The disclosures … are utterly shocking and appalling. He has betrayed our country. He has lied repeatedly. He is responsible for a litany of deceit.’
Starmer later said that if he had known then what he knows now, Mandelson ‘would never have been anywhere near government.’
Mandelson, an architect of New Labour, was appointed U.S. ambassador before being dismissed in September 2025 as scrutiny over his links to Epstein intensified.
He resigned from the Labour Party and stepped down from the House of Lords.
As U.S. ambassador, Mandelson scored an early victory by ensuring Britain was the first country to agree to a deal with the U.S. to lower some of President Donald Trump’s tariffs, but was fired a few months later.
Starmer has also faced calls to step down over Mandelson’s appointment, Reuters reported.
The U.S. Secret Service-involved shooting of a man with a shotgun inside the secure perimeter of Mar-a-Lago over the weekend brought the Department of Homeland Security’s partial shutdown into new focus.
Two USSS agents and a Palm Beach County Sheriff’s Office deputy confronted and later shot and killed Austin Martin, 21, who authorities said slipped through a vehicular exit gate that had opened for a car before brandishing his weapon.
‘They confronted a white male that was carrying a gas can and a shotgun. He was ordered to drop those two pieces of equipment that he had with him – at which time he put down the gas can, raised the shotgun to a shooting position… the deputy and the two Secret Service agents fired their weapons and neutralized the threat,’ according to Palm Beach County Sheriff Ric Bradshaw.
Those agents are among the many working their dangerous jobs without pay due to the ongoing partial shutdown of DHS, which Republicans say was brought on by Democrats’ demands that ICE, which remains funded through other means, be reformed.
Rep. Randy Fine, R-Fla., who represents Daytona Beach just up the coast from Mar-a-Lago, said the incident proves the bravery of the Secret Service no matter the circumstances.
‘The attempted assassination of President Trump at Mar-a-Lago is a stark reminder of growing leftist political violence in our country,’ Fine said in a statement.
‘Grateful to the Secret Service who neutralized the terrorist. Even as Democrats refuse to pay them because of their shutdown of the Department of Homeland Security, these men and women continue to stand their post.’
Top White House aide Stephen Miller offered an even more pointed response to the dynamic:
‘Democrats voted to defund Secret Service, Homeland Security Investigations (who partner with Secret Service) and all the intelligence and law enforcement functions that support Secret Service,’ Miller said.
‘Never before in history has federal law enforcement been purposefully defunded.’
House Small Business Committee Chairman Roger Williams of Texas added that Americans should take note of the agents who responded whether paid or not.
‘As we continue to learn more about the armed man at Mar-a-Lago this morning, we must remember that the brave agents who responded are serving our country without pay due to the Democrat-led shutdown,’ Williams, R-Texas, said.
Prior to the incident, Senate Majority Whip John Barrasso, R-Wyo., warned that the Secret Service and other agencies like FEMA would be put in a bad spot if the partial shutdown went forward.
‘Democrats are prioritizing illegal immigrant criminals ahead of the safety of the American people,’ he said in a February 12 floor speech.
At least one Democrat did react to the agent-involved shooting.
Rep. Lois Frankel of Florida, for whom Trump is technically a constituent at his Mar-a-Lago address, said that ‘political violence is never the answer.’
‘Thank you to the Secret Service and Palm Beach County law enforcement for their swift response today and for their continued work in keeping the president safe,’ Frankel said.
The Northeast blizzard presents separate challenges for resource-suspended agencies like FEMA, while certain Homeland Security-run services, such as TSA escorts for members of Congress, are also suspended.
Fox News’ Elise Oggioni contributed to this report.
Aurum Resources (AUE:AU) has announced Boundiali Resource Grows to 3Moz – Indicated Up 49%
Download the PDF here.
Brightstar Resources (BTR:AU) has announced High-grade assays incl 4m @ 26.7g/t Au in Sandstone drilling
Download the PDF here.
An emotional Rep. Alexandria Ocasio-Cortez, D-N.Y., attempted to blame critics – and even President Donald Trump’s own off-the-cuff agility – for the backlash she received for her response to a question at the recent Munich Security Conference on American defense of Taiwan in the event of a Chinese invasion.
‘If you think I don’t understand foreign policy, because of out of hours of discourse about international affairs, I pause to think about one of the most sensitive geopolitical issues that currently exist on earth, I’m afraid the issue is not my understanding, but perhaps the problem is you’ve gotten adjusted to a president that never thinks before he speaks,’ a raspy-voiced Ocasio-Cortez said on a late-night Instagram Live video circulating on social media.
The leftist congresswoman’s Munich stumbling on Friday, Feb. 13, started the critical firestorm and has conservatives questioning her fitness for a potential 2028 Democrat presidential primary campaign.
‘Um, you know, I think that this is such a, you know, I think that this is a um — this is, of course, a, um, very long-standing, um, policy of the United States,’ she said with pause when asked about America defending Taiwan in the event of a Chinese invasion to enforce its One China Policy over the island-nation.
‘And I think what we are hoping for is that we want to make sure that we never get to that point, and we want to make sure that we are moving in all of our economic, research and our global positions to avoid any such confrontation and for that question to even arise.’
Vice President JD Vance, a potential 2028 presidential campaign opponent in a prospective general election matchup, weighed in multiple times this week to Ocasio-Cortez’s remarks.
‘I think it’s a person who doesn’t know what she actually thinks, and I’ve seen this way too much in Washington with politicians: Where they’re given lines and, when you ask them to go outside the lines they were given, they completely fall apart,’ Vance told Fox News’ ‘The Story With Martha MacCallum’ in an in-studio interview earlier this week.
‘That was embarrassing,’ he continued. ‘If I had given that answer I would say, ‘You know what? Maybe you ought to go read a book about China and Taiwan before I go out on the world stage again.’ I hope that Congresswoman Cortez has the same humility. I’m skeptical.’
Chibougamau Copper-Gold Project, Canada
HIGHLIGHTS:
| Cygnus Executive Chairman David Southam said: ‘There is overwhelming evidence which points to the potential for substantial resource growth at Chibougamau. The resources remain open in many places and we have a pipeline of compelling targets to test.
‘We have devised an extensive program of drilling and geophysics to unlock this upside. This will include brownfields drilling as well as testing new targets. After growing the resource by 29 per cent last year, we are confident that our exploration strategy will deliver more strong results and create more value for shareholders. ‘We are now drilling at Golden Eye and Cedar Bay, which provide substantial resource upside. ‘Joe Mann and Gwillim have excellent discovery potential and have been materially overlooked for the last 20 years. With this potential and the current gold price we are excited to commence exploration on these targets’. |
Cygnus Metals Limited (ASX: CY5; TSXV: CYG,OTC:CYGGF; OTCQB: CYGGF) (‘Cygnus’ or the ‘Company’) is pleased to announce the start of extensive exploration programs aimed at growing the resources at its Chibougamau Copper-Gold Project in Quebec.
Resource growth and discovery remain a key pillar of Cygnus’ growth strategy as the Company continues to unlock the Chibougamau district. A key focus is brownfields exploration, including extensions to deposits such as Cedar Bay and Golden Eye.
At Cedar Bay, Downhole Electromagnetics (‘DHEM’) is in progress to define follow up drill targets from recent exploration drilling1 which returned:
Recent drilling successfully demonstrated extensions to the current resource at Cedar Bay of 0.3Mt at 8.1g/t AuEq for 67koz (M&I) and 0.8Mt at 7.8g/t AuEq for 205koz (Inferred).2 DHEM aims to define resource extensions as well as identifying high grade shoots which are typically associated with semi massive sulphides. This will be the first time DHEM is being used at Cedar Bay in over 20 years, presenting a huge opportunity for Cygnus.
At Golden Eye, drilling has commenced with three rigs to grow the Indicated Resource and extend the resource below the currently defined depth of just 450m. Golden Eye was a new resource defined by Cygnus last year of 0.5Mt at 5.6g/t AuEq for 91koz (Indicated) and of 1.2Mt at 4.6g/t AuEq for 182koz (Inferred)2 and remains open at depth with one of the deepest intersections5 from last year of:
The Company also has a strong focus on defining new resources and making discoveries. Two key areas identified as high priority are gold targets Joe Mann and Gwillim.
At Joe Mann, the Company has commenced a detailed Induced Polarisation (‘IP’) survey along major structures to identify walk-up drill targets for Q2 this year. Cygnus is targeting analogous mineralisation to IAMGOLD’s Nelligan Complex, which is located just 10km west of the project and contains 4.3Moz Au (M&I) and 7.5Moz Au (Inferred).3
This survey will help to generate further drill targets in addition to some of the high-grade historic intersections which also require follow up.4 These include:
At Gwillim, permits are underway for drilling to commence in the coming quarter. Drilling at Gwillim will be co-funded by 50% JV partner Alamos Gold, which has a market capitalisation of ~C$25B. Gwillim is just 12km from the Chibougamau processing facility and has high potential for defining new resources. Initial drilling will focus on following up high-grade historic intersections4 such as:
The Chibougamau area has well-established infrastructure, giving the Project a significant headstart 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 processing facility within a 250km radius.
Figure 1: Exploration progressing across mutiple fronts with a focus on both resource extensions and discovery
Figure 2: Joe Mann IP survey covering key structures from IAMGOLD’s major deposits Nelligan and Phillibert3
This announcement has been authorised for release by the Board of Directors of Cygnus.
| David Southam Executive Chair T: +61 8 6118 1627 E: info@cygnusmetals.com |
Nicholas Kwong President & CEO T: +1 647 921 0501 E: info@cygnusmetals.com |
Media: Paul Armstrong Read Corporate T: +61 8 9388 1474 |
About Cygnus Metals
Cygnus Metals Limited (ASX: CY5, TSXV: CYG,OTC:CYGGF, 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
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 information in this release that relates to the Mineral Resource Estimate for the Chibougamau Project reported in accordance with the JORC Code (2012 Edition) and NI 43-101 was released by Cygnus in an announcement titled ‘Major Resource Update’ released to the ASX on 17 September 2025 and subsequent technical report dated 31 October 2025 titled ‘NI 43-101 Technical Report Chibougamau Hub and Spoke Complex, Québec, Canada’ prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (‘NI 43-101’) and the JORC Code (2012 Edition). Details of the Mineral Resource Estimate are included in Appendix A.
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 End Notes.
Individual grades for the metals included in the metal equivalents calculations for the Mineral Resource Estimate, as well as the price assumptions, metallurgical recoveries and metal equivalent calculations themselves, are in Appendix A of this release. Individual grades for the metals included in the metal equivalents calculation for the exploration results are in the original market announcements. 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, with copper equivalents calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.77258)+(Ag(g/t) x 0.00822). Metallurgical recovery factors have been applied to the copper equivalents calculations for the exploration results, with copper metallurgical recovery assumed at 95% and gold 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 copper and gold equivalent calculations have a reasonable potential to be recovered and sold.
Cygnus is not aware of any new information or data that materially affects the information in these announcements, and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. 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.
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 – Mineral Resource Estimate for the Chibougamau Project as at 17 September 2025
| Cu Project |
Classification | COG CuEq |
Tonnage | Average Grade | Contained Metal | ||||||||
| Cu | Au | Ag | CuEq | AuEq | Cu | Au | Ag | CuEq | AuEq | ||||
| % | Mt | % | g/t | g/t | % | g/t | kt | koz | koz | kt | koz | ||
| Corner Bay | Indicated | 1.2 | 4.9 | 2.5 | 0.3 | 8.4 | 2.8 | 4.1 | 124 | 43 | 1,316 | 137 | 638 |
| Inferred | 5.4 | 2.7 | 0.2 | 8.9 | 3.0 | 4.3 | 146 | 41 | 1,543 | 159 | 744 | ||
| Devlin | Measured | 1.5 | 0.1 | 2.7 | 0.3 | 0.5 | 2.9 | 4.7 | 4 | 1 | 2 | 4 | 19 |
| Indicated | 0.6 | 2.0 | 0.2 | 0.2 | 2.1 | 3.4 | 13 | 4 | 5 | 13 | 69 | ||
| M&I | 0.8 | 2.1 | 0.2 | 0.3 | 2.3 | 3.6 | 16 | 5 | 7 | 17 | 88 | ||
| Inferred | 0.3 | 2.0 | 0.2 | 0.3 | 2.1 | 3.4 | 7 | 2 | 3 | 7 | 36 | ||
| Joe Mann | Inferred | 2.0 | 0.7 | 0.2 | 6.0 | – | 4.6 | 6.3 | 2 | 143 | – | 34 | 151 |
| Cedar Bay | Indicated | 1.8 | 0.3 | 1.6 | 6.0 | 9.9 | 6.4 | 8.1 | 4 | 50 | 82 | 16 | 67 |
| Inferred | 0.8 | 2.0 | 5.1 | 11.8 | 6.1 | 7.8 | 17 | 134 | 309 | 50 | 205 | ||
| Golden Eye | Indicated | 0.5 | 1.0 | 4.3 | 9.9 | 4.4 | 5.6 | 5 | 69 | 161 | 22 | 91 | |
| Inferred | 1.2 | 0.9 | 3.4 | 7.9 | 3.6 | 4.6 | 11 | 134 | 313 | 45 | 182 | ||
| Project | Classification | Tonnage | Average Grade | Contained Metal | |||||||||
| Cu | Au | Ag | CuEq | AuEq | Cu | Au | Ag | CuEq | AuEq | ||||
| Mt | % | g/t | g/t | % | g/t | kt | koz | koz | kt | koz | |||
| Hub and Spoke | Measured | 0.1 | 2.7 | 0.3 | 0.5 | 2.9 | 4.7 | 4 | 1 | 2 | 4 | 19 | |
| Indicated | 6.3 | 2.3 | 0.8 | 7.8 | 3.0 | 4.3 | 146 | 166 | 1,563 | 189 | 865 | ||
| M&I | 6.4 | 2.3 | 0.8 | 7.6 | 3.0 | 4.3 | 149 | 167 | 1,565 | 193 | 884 | ||
| Inferred | 8.5 | 2.1 | 1.7 | 7.9 | 3.5 | 4.8 | 182 | 454 | 2,168 | 295 | 1,318 | ||
Notes:
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/9f3d9271-0c1d-4946-b6b7-907187bb4f3a
https://www.globenewswire.com/NewsRoom/AttachmentNg/bf51280f-9701-4436-8255-c21949f90dfe
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