Issue of Performance Rights
Cygnus Metals Limited
Level 2, 8 Richardson Street, West Perth WA 6005
T: +61 8 6118 1627 E: [email protected] W: www.cygnusmetals.com
ASX: CY5 | TSXV: CYG
OTCQB: CYGGF
December 8, 2025 – Toronto, Canada
Issue of Performance Rights
Cygnus Metals Limited (“Cygnus” or the “Company”) advises that it issued a n 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: +61 8 6118 1627
Ernest Mast
President & Managing Director
T: +1 647 921 0501
Media:
Paul Armstrong
Read Corporate
+61 8 9388 1474
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 wi th 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.