Cygnus increases highly prospective, under-explored ground position by 50%

Cygnus increases highly prospective, under-explored ground position by 50%

Chibougamau Copper-Gold Project, Canada

Two diamond drill rigs about to arrive on site as part of strategy to grow the resource and test brownfield exploration targets


HIGHLIGHTS:

  • Cygnus has secured additional ground next to its Chibougamau Copper-Gold Project, increasing its total land holding to 282km 2
  • The newly staked areas add to a highly prospective land position which has seen limited modern exploration in the past 20 years
  • Chibougamau Copper-Gold Project has a Measured and Indicated Mineral Resource of 3.6Mt at 3.0% CuEq and an Inferred Mineral Resource of 7.2Mt at 3.8% CuEq 1
  • The Chibougamau district is a world-class mineral terrane with strong potential for additional discovery; Historical production totals more than 945,000t of copper and 3.5Moz of gold across 16 former producing mines 2
  • Two diamond drill rigs are set to start this week, targeting both resource growth and priority brownfield exploration targets, underpinning strong news flow
  • Drilling results are expected imminently from a targeted exploration program completed prior to Cygnus' merger with Doré Copper Mining Corp. (see ASX release dated 2 January 2025)
  • The Chibougamau Copper-Gold Project includes a 900,000tpa processing facility – the only milling infrastructure within a 250km radius
  • The district also has excellent infrastructure with a local mining town, a modern mining workforce training centre, sealed highway, airport, regional rail infrastructure and 25kV hydro power to the processing site

Cygnus Executive Chairman, David Southam said   : "Our immediate strategy is to create value through exploration at Chibougamau and we are wasting no time executing this aspect of our plan.

"Expanding our ground position increases the upside at the project and reflects our strong belief in the immense exploration and resource growth potential.

"All of this newly staked land is adjacent to the high-grade Chibougamau mining camp which has an incredible production record dating back over 65 years, producing almost 1 million tonnes of copper and 3.5 million ounces of gold".


TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Cygnus Metals Limited (ASX: CY5; TSXV: CYG) ("Cygnus" or the "Company") is pleased to announce that it has expanded its land holding by 50 per cent at the Chibougamau Copper-Gold Project in Quebec, Canada and is about to start drilling.

Cygnus recently completed its transformative merger with Doré Copper Mining Corporation, creating a new leading player in the critical minerals sector with a strategic focus on high-grade copper and lithium assets in Quebec, Canada. A key motivation behind the merger was to advance the Chibougamau Copper-Gold Project which has established high-grade mineral resources of:

Measured and Indicated Mineral Resources of 3.6Mt at 3.0% CuEq and Inferred Mineral Resources of 7.2Mt at 3.8% CuEq (refer to Appendix A) 1

The multi-pronged value creation strategy has a strong focus on resource growth and brownfield exploration with significant potential for additional discovery in the region. Part of that strategy was to bolster the ground position and provide additional exploration opportunity in a world-class mineral terrane that has historically produced nearly 1Mt of copper and 3.5Moz of gold over a 65 year history. 2 This large and well-endowed mineral system is driven by the central Chibougamau Pluton with the recently acquired ground adding more of this highly prospective geology to the combined project.

The new claims have been acquired at minimal cost to Cygnus, being newly staked and open ground immediately surrounding the existing project, and are principally in the anorthosite band that surrounds the Chibougamau Pluton, which typically host mineral deposits in the Chibougamau mining camp. In total, 174 claims have been staked for 97km 2 taking the combined Chibougamau Copper-Gold Project to 282km 2 . This provides an excellent platform to drive growth through exploration in a highly prospective district.

In line with the Company's resource growth strategy, drilling is about to start with two diamond drill rigs. This initial program will focus on resource growth opportunities surrounding some of the existing deposits aiming to build upon the existing high-grade resources. The Company looks forward to a high volume of news flow during 2025 with ongoing drilling updates and results.

Image 1

Figure 1: Newly staked ground over the highly prospective Chibougamau Pluton and surrounding anorthositic host rock.

About the Chibougamau Copper-Gold Project

The Project is located in central Quebec, Canada approximately 480km due north of Montreal. The province of Quebec has been recognised as a top ten global mining investment jurisdiction in the 2023 Fraser Institute Annual Survey of Mining Companies. The Project has excellent infrastructure with a local mining town, sealed highway, airport, regional rail infrastructure and access to hydro power via installed powerlines.

The Project is centred on the Chibougamau Pluton with historic production in the Chibougamau mining district of 53.5Mt @ 3.4% CuEq 2 from periodic mining between the early 1900s and 2008. Over this long mining history, the district has produced nearly 1Mt of copper and 3.5Moz of gold from 16 former producing mines. 2

The Project has high-grade resources including Measured and Indicated Mineral Resources of 3.6Mt at 3.0% CuEq and Inferred Mineral Resources of 7.2Mt at 3.8% CuEq with significant potential to grow (refer to Appendix A). 1

The Company has a clear strategy to:

  • Grow the current resource through brownfield exploration and investment in drilling, modern geophysics and other exploration activities
  • Advance the project towards development through study work and utilising existing infrastructure

The Company sees substantial opportunity to create shareholder value by an established high-grade resource with opportunity for growth, excellent infrastructure, 900ktpa processing facility and clear pathway to production, all within a quality endowed mineral terrane that has seen minimal modern exploration.

Image 2

Figure 2: Location of the Chibougamau Project relative to other major deposits and processing facilities. 3

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: info@cygnusmetals.com
E: info@cygnusmetals.com T: +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 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 document contains "forward-looking information" and "forward-looking statements" which are based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of Cygnus believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects', ‘anticipates', ‘plans', ‘believes', ‘estimates', ‘seeks', ‘intends', ‘targets', ‘projects', ‘forecasts', or negative versions thereof and other similar expressions, or future or conditional verbs such as ‘may', ‘will', ‘should', ‘would' and ‘could'. Although Cygnus and its management believe that the assumptions and expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Cygnus to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual results of current or future exploration, changes in project parameters as plans continue to be evaluated, changes in laws, regulations and practices, the geopolitical, economic, permitting and legal climate that Cygnus operates in, as well as those factors disclosed in Cygnus' publicly filed documents. No representation or warranty is made as to the accuracy, completeness or reliability of the information, and readers should not place undue reliance on forward-looking information or rely on this document as a recommendation or forecast by Cygnus. Cygnus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

End Notes

  1. The Mineral Resource estimate 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 A for a breakdwon of the Mineral Resource Estimate and a summary of the assumptions.
  2. Sources for historic production figures: Economic Geology, v. 107, pp. 963–989 - Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada by François Leclerc et al. (Lac Dore/Chibougamau mining camp).
  3. For regional resources in Quebec: (a) at Monster Lake and Nelligan, refer to IAMGOLD Corporations' news release dated 15 February 2024; (b) at Windfall, refer to Osisko Mining's NI 43-101 Technical Report filed with SEDAR on 10 January 2023; (c) at Canadian Malartic, refer to Agnico Eagle's 2023 Annual Information Form; (d) at Opemiska, refer to XXIX's news release dated 8 January 2024; (e) at Roger, refer to the SOQUEM and Enforcer Gold Corp's NI 43-101 Technical Report dated 9 October 2018; and (f) at Chevrier, refer to Northern Superior Resources's NI 43-101 Technical Report filed with SEDAR on 7 October 2022.

Qualified Persons and Compliance Statements

The scientific and technical information in this news release has been reviewed and approved by Ms Laurence Huss, the Quebec In-Country Manager of Cygnus, a "qualified person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 announcement of 15 October 2024 continues to apply and has not materially changed. Cygnus confirms that 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 its 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.

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 – Chibougamau Copper-Gold Project – Foreign 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
Total Inferred 7,200 3.0 1.1 216 248 3.8


Notes:

  1. Cygnus Metals Ltd cautions that Mineral Resources for the Chibougamau Copper Project, incorporating Corner Bay, Devlin, Cedar Bay and Joe Mann, are reported in accordance with the requirements applying to foreign estimates in the ASX Listing Rules and, as such, are not reported in accordance with the JORC Code (2012 Edition). A Competent Person has not yet completed sufficient work to classify the resources as Mineral Resources that satisfy the guidelines provided in the JORC Code (2012 Edition). It is uncertain that following evaluation and/or further exploration work that the Mineral Resources will be able to be reported as Mineral Resources in accordance with the JORC Code (2012 Edition).
  2. All resources have been prepared in accordance with CIM Standards. Please refer to Cygnus' announcement on 15 October 2024 for additional technical information relating to the foreign estimate.
  3. The Mineral Resource estimates include Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorised as Mineral Reserves. There is also no certainty that Inferred Mineral Resources will be converted to Measured and Indicated categories through further drilling, or into Mineral Reserves once economic considerations are applied.
  4. Numbers may not reconcile precisely due to rounding.
  5. Mineral resources have been reported at a cut-off grades of 2.6 g/t Au at Joe Mann, 1.3% Cu at Corner Bay, 2.9 g/t Au at Cedar Bay and 1.2% Cu at Devlin. Mineral Resources at Joe Mann are estimated using a long-term gold price of US$1,800/oz Au, and a metallurgical gold recovery of 83%. Mineral Resources at Corner Bay and Devlin are estimated using a long-term copper price of US$3.75 per pound, and a metallurgical copper recovery of 95%. Mineral Resources at Cedar Bay are estimated using a long-term gold price of US$1,400/oz Au, and a metallurgical gold recovery of 90%.
  6. Metal equivalents for the foreign estimate have been calculated at a copper price of US$8,300/t, gold price of US$2,000/oz, silver price of US$25/oz and zinc price of $2,500/t. Copper equivalent was calculated based on the formula CuEq (%) = Cu(%) + (Au (g/t) x 0.77472) + (Ag (g/t) x 0.00968) + (Zn (%) x 0.3012). Metallurgical recovery factors have not been applied at this time to copper equivalents calculation due to variance of geology within the camp and lack of available data. It is the Company's view that all elements in the copper equivalent calculations have a reasonable potential to be recovered and sold.

1 The Mineral Resource estimate 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.


Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/c232825e-b414-4476-bfbb-922828189faa

https://www.globenewswire.com/NewsRoom/AttachmentNg/8c5a2c23-3e19-429c-9a31-064227e84b29


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Dore Copper Announces Shareholder Approval of Plan of Arrangement with Cygnus Metals

Dore Copper Announces Shareholder Approval of Plan of Arrangement with Cygnus Metals

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that, at the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") held earlier today, Doré Copper Shareholders overwhelmingly voted in favour of approving the special resolution (the " Arrangement Resolution ") authorizing the previously announced plan of arrangement (the " Arrangement ") ( news release October 15, 2024 ) whereby Cygnus Metals Limited (" Cygnus "), through its wholly-owned subsidiary, 1505901 B.C. Ltd., will acquire all of the issued and outstanding common shares in the capital of Doré Copper (the " Doré Copper Shares ") and, in exchange, Doré Copper Shareholders will receive 1.8297 ordinary shares in the capital of Cygnus (the " Cygnus Shares ") for each Doré Copper Share held.

Doré Copper would like to thank its shareholders for their overwhelming support of the combination of Cygnus and Doré Copper to create a Québec-focused critical minerals explorer and developer with high-grade copper and lithium resources.

At the Meeting, the Arrangement Resolution was approved by (i) approximately 100% of the votes cast by Doré Copper Shareholders present in person or represented by proxy and entitled to vote, and (ii) approximately 100% of the votes cast by the minority Doré Copper Shareholders present in person or represented by proxy and entitled to vote, which excluded the votes cast in respect of the Doré Copper Shares beneficially owned, or over which control or direction is exercised, by Mario Stifano, Ernest Mast and Ocean Partners Holdings Limited, as determined in accordance with Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions . A total of 121,067,401 Doré Copper Shares were voted at the Meeting, representing approximately 71.50% of the issued and outstanding Doré Copper Shares as of the record date of November 13, 2024.

Assuming that all remaining approvals are obtained and all other remaining conditions precedent to the completion of the Arrangement are satisfied or waived, Doré Copper anticipates that the Arrangement will be completed on or about December 31, 2024. Completion of the Arrangement remains subject to, among other things, satisfaction of all conditions precedent to the completion of the Arrangement, including the final approval of the Ontario Superior Court of Justice and the approval for listing of the Cygnus Shares on the TSX Venture Exchange (the " TSXV "). The hearing for the final order of the Ontario Superior Court of Justice to approve the Arrangement is scheduled to take place on December 19, 2024.

Further details regarding the Arrangement are set out in the management information circular of Doré Copper dated November 13, 2024, which is available on SEDAR+ ( www.sedarplus.ca ) under Doré Copper's issuer profile.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including, receipt of all necessary court and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the 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.

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Dore Copper Announces Filing and Mailing of Management Information Circular in Connection with Special Meeting and Encourages Shareholders to Access Meeting Materials Electronically

Dore Copper Announces Filing and Mailing of Management Information Circular in Connection with Special Meeting and Encourages Shareholders to Access Meeting Materials Electronically

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) today announced that it has filed and is in the process of mailing the management information circular (the " Circular ") and related materials for the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") to be held December 16, 2024. At the Meeting, Doré Copper Shareholders will be asked to consider and vote on a special resolution (the " Arrangement Resolution ") approving a statutory plan of arrangement (the " Plan of Arrangement ") pursuant to Section 192 of the Canada Business Corporations Act (the " Arrangement "), subject to the terms and conditions of an arrangement agreement dated October 14, 2024 (the " Arrangement Agreement ") entered into among Doré Copper, Cygnus Metals Limited (" Cygnus ") and 1505901 B.C. Ltd., a wholly owned subsidiary of Cygnus, all as more particularly described in the Circular.

The board of directors of Doré Copper (the " Doré Copper Board ") and the special committee of independent directors established by the Doré Copper Board (the " Special Committee ") have unanimously determined that the Arrangement is in the best interests of Doré Copper and that the Arrangement is fair to the Doré Copper Shareholders. The Special Committee and the Doré Copper Board reviewed and considered a significant amount of information and considered a number of factors relating to the Arrangement, with the benefit of advice from Doré Copper's management, and the financial and legal advisors of the Special Committee and the Doré Copper Board. The Special Committee unanimously recommended that the Doré Copper Board recommend to Doré Copper Shareholders that they vote FOR the Arrangement Resolution. The Doré Copper   Board unanimously recommends that Doré Copper   Shareholders vote   FOR   the Arrangement Resolution. See pages 33 to 36 of the Circular for a detailed description of the " Reasons for the Arrangement ".

In accordance with the interim order granted by the Ontario Superior Court of Justice (Commercial List) on November 12, 2024, providing for the calling and holding of the Meeting and other procedural matters relating to the Arrangement, the Arrangement can only proceed if, among other conditions, it receives the approval of not less than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting and not less than a majority (50% + 1) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting excluding the votes cast by certain interested or related parties or joint actors of Doré Copper in accordance with the minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions .

Under the Arrangement Agreement, the parties have agreed to effect the Arrangement, pursuant to which Cygnus will indirectly acquire all of the issued and outstanding common shares in the capital of Doré Copper (" Doré Copper Shares "), and Doré Copper Shareholders will be entitled to receive, for each Doré Copper Share held immediately prior to the effective time of the Arrangement (the " Effective Time "), 1.8297 fully paid ordinary shares (the " Consideration ") in the capital of Cygnus (each one whole share, a " Cygnus Share ").

As a result of, and immediately following the completion of, the Arrangement, Doré Copper will be an indirect wholly-owned subsidiary of Cygnus and the former Doré Copper Shareholders will be entitled to receive the Consideration for each Doré Copper Share previously held by them immediately prior to the Effective Time (subject to rounding, as provided for in the Plan of Arrangement).

Cygnus has applied for its Cygnus Shares to be listed on the TSX Venture Exchange (the " TSXV "). It is a condition of closing that Cygnus shall have received conditional listing approval from the TSXV to list the Cygnus Shares on the TSXV. Listing of the Cygnus Shares on the TSXV will be subject to Cygnus receiving approval from, and fulfilling all of the minimum listing requirements of, the TSXV.

Meeting and Circular

The Meeting of the Doré Copper Shareholders will be held at the offices of Bennett Jones LLP located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, M5X 1A4 on December 16, 2024 at 12:00 p.m. (Toronto time). Doré Copper Shareholders of record as of the close of business on November 13, 2024 are entitled to receive notice of and to vote at the Meeting. Doré Copper Shareholders are urged to vote before the proxy deadline of 12:00 p.m. (Toronto time) on December 12, 2024.

The Circular provides important information on the Arrangement and related matters, including the background of the Arrangement, the rationale for the recommendations made by the Special Committee and the Doré Copper Board, and voting procedures. Doré Copper Shareholders are urged to read the Circular and its appendices carefully and in their entirety. The Circular is being mailed to Doré Copper Shareholders in compliance with applicable Canadian securities laws. The Circular is available under Doré Copper's profile on SEDAR+ at www.sedarplus.ca and on Doré Copper's website at www.dorecopper.com .

Impact of Canada Post Labour Strike

Due to the ongoing Canada Post labour strike, it is possible that Doré Copper Shareholders may experience a delay in receiving the Circular and related materials in respect of the Meeting. Doré Copper Shareholders are encouraged to access the Circular and related materials electronically as noted above. Registered holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials may contact Computershare Investor Services Inc. at 1-800-564-6253 to obtain their individual control numbers in order to vote their Doré Copper Shares. Registered holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.investorvote.com or via telephone at 1-866-732-VOTE (8683). Registered holders of Doré Copper Shares are also encouraged to complete and return letters of transmittal by hand or by courier to ensure the appropriate documents are received in a timely manner. Beneficial holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials should contact their broker or other intermediary for assistance in obtaining their individual control numbers in order to vote their Doré Copper Shares. Beneficial holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.proxyvote.com or via telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French). It is recommended that any physical forms of proxy or voting instruction forms be delivered via courier to ensure that they are received in a timely manner.

Registered holders of Doré Copper Shares who wish to exercise their dissent rights in connection with the Arrangement are also cautioned to deliver their written objection to Doré Copper by mail using a method other than Canada Post or by facsimile transmission in accordance with the instructions set forth in the Circular to ensure that they are received in a timely manner.

Other Matters

Agreement with SOQUEM

Further to its news release dated July 3, 2024, on July 2, 2024, Doré Copper issued 1,190,476 Doré Copper Shares to SOQUEM at a deemed price of $0.105 per Doré Copper Share in connection with its acquisition of a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (earning up to 70%), the Auclair Lithium Project and the Sakami Lithium Project in the world class James Bay lithium district in Québec, Canada. In addition, Cygnus has REE and base metal projects at Bencubbin and Snake Rock in Western Australia. The Cygnus Board of Directors and Technical Management team have a proven track record of substantial exploration success and creating wealth for shareholders and all stakeholders in recent years. Cygnus' tenements range from early-stage exploration areas through to advanced drill-ready targets.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including receipt of all necessary court, shareholder and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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.

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Doré Copper Provides Update on Arrangement Agreement With Cygnus Metals

Doré Copper Provides Update on Arrangement Agreement With Cygnus Metals

Not for distribution to United States news wire services or for dissemination in the United States

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce, further to its news release dated October 15, 2024, an update on the definitive arrangement agreement (the " Agreement ") with Cygnus Metals Limited (ASX: CY5) (" Cygnus ") pursuant to which Cygnus has agreed to acquire 100% of the issued and outstanding common shares of Doré Copper (the " Doré Copper Shares ") by way of a court approved plan of arrangement under the Canada Business Corporation Act (the " Transaction ").

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Canadian Investment Regulatory Organization Trade Resumption - DCMC

Canadian Investment Regulatory Organization Trade Resumption - DCMC

Trading resumes in:

Company: Dore Copper Mining Corp.

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Doré Copper and Cygnus Metals Enter Into Arrangement Agreement to Create Strategic Critical Minerals Company

Doré Copper and Cygnus Metals Enter Into Arrangement Agreement to Create Strategic Critical Minerals Company

Not for distribution to United States news wire services or for dissemination in the United States

Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that it has entered into a definitive arrangement agreement (the " Agreement ") on October 14, 2024 with Cygnus Metals Limited (ASX: CY5) (" Cygnus ") to combine their respective businesses in a merger of equals transaction, pursuant to which Cygnus has agreed to acquire 100% of the issued and outstanding common shares of Doré Copper (the " Doré Copper Shares ") by way of a court approved plan of arrangement under the Canada Business Corporation Act (the " Transaction ").

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Bold Ventures Receives Assays up to 68 g/t gold at the Newly Discovered 111 Zone at the Burchell Gold and Copper Property

Bold Ventures Receives Assays up to 68 g/t gold at the Newly Discovered 111 Zone at the Burchell Gold and Copper Property

Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that it has received additional grab sample results ranging from 10 ppb Au up to 68,000 ppb Au (68 gt or 2.2 ozt gold (Au)) at the newly identified 111 ("one-eleven") Zone at its Burchell Gold and Copper Property ("the Property"). The samples were collected during a short follow up sampling program in December 2024, in the vicinity of previous samples taken in November 2024. The November samples returned values ranging from

The 8 new samples collected at the 111 Zone in December consist of strongly sheared, strongly silicified, sericitized, tuffaceous mafic to intermediate volcanics, containing generally minor but up to 5% disseminated pyrite, and several fine specks of visible gold in the case of the sample which returned 68 g/t Au. The east-northeast-trending zone has limited exposure and appears to be at least 3 meters wide in outcrop, situated within a broad (>100 m wide) alteration zone that coincides with a prominent magnetic low. The zone of anomalous gold remains open in all directions.

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Falco Horne 5 Mining Project Bape Report

Falco Horne 5 Mining Project Bape Report

Falco Resources Ltd. (TSX.V: FPC) (" Falco " or the " Company ") welcomes the report of the Bureau d'audiences publiques sur l'environnement (BAPE), in which the commission of inquiry brings to the attention of the relevant decision-making bodies various elements that require commitments, actions or modifications, with a view to issuing government authorizations. This commission examined the Falco Horne 5 mining project (the " Project ") from a sustainable development perspective, and, at this stage of the project's development, it is customary for the commission to request additional studies and analyses in order to clarify certain aspects of the Project. It is important to note that to date, more than 90% of the commission's opinions related to the Project have already been considered, planned or initiated. Falco has summarized its main findings in a summary of highlights .

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Heritage Mining Appoints Thomas Reid CPA, CA to its Board of Directors

Heritage Mining Appoints Thomas Reid CPA, CA to its Board of Directors

(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC TheNewswire - January 7, 2025 Heritage Mining Ltd. (CSE: HML FRA:Y66) ("Heritage" or the "Company") is pleased to announce the appointment of Thomas Reid to the Company's board of directors (the "Board"). Mr. Reid will be succeeding James Fairbairn, who has retired from the Board with immediate effect.

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Noble and Canada Nickel Announce Signing of Definitive Agreement for Creation of ExploreCo

Noble and Canada Nickel Announce Signing of Definitive Agreement for Creation of ExploreCo

(TheNewswire)

Noble Mineral Exploration Inc.

Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce that it has signed a Definitive Implementation Agreement with  Canada Nickel Company Inc. ("Canada Nickel") whereby Noble and Canada Nickel will spin-out certain mining claims (the "Properties") into a new company to consolidate their interests in large tonnage, low grade nickel projects northeast of Timmins, Ontario

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Nuvau Minerals Inc. Provides Corporate Update and 2025 Objectives

Nuvau Minerals Inc. Provides Corporate Update and 2025 Objectives

Nuvau Minerals Inc. (TSXV: NMC) (the "Company" or "Nuvau"), is pleased to provide an update on the Company's ongoing work programs at the Matagami Mining Camp.

In 2025, Nuvau will strive to continue building on its previous successes, advancing exploration efforts, and looking to increase resources.

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Blackstone Expands Strategy to Pursue Copper-Gold Projects

Blackstone Expands Strategy to Pursue Copper-Gold Projects

Blackstone Minerals (BSX:AU) has announced Blackstone Expands Strategy to Pursue Copper-Gold Projects

Download the PDF here.

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