Quarterly Activities/Appendix 5B Cash Flow Report

Cyprium Metals Limited (ASX: CYM, OTC: CYPMF) (Cyprium or the Company), a copper developer focused on recommencing production at the Nifty Copper Complex in the Paterson region of Western Australia (Nifty), is pleased to report its quarterly activities.

Highlights:

• $13.5 Million Two-Tranche Placement
  • Successfully completed Tranche 1, raising A$5.2 million before costs.
  • Tranche 2, anticipated to raise A$8.3 million, is subject to shareholder approval at the January 2025 extraordinary meeting.
  • Funds are allocated for Nifty project costs, DFS preparation, geology work, financing obligations, and general working capital.
• Nifty Copper Complex Prefeasibility Study (PFS)
  • Confirmed the economic viability of the Nifty redevelopment, with a pre-tax NPV8 of A$1.12 billion and a 28.9% IRR (23.6% after tax).
  • Highlights include 20-year project life, average annual copper production of 37.3ktpa over the first decade and projected gross revenues of A$9.2 billion.
  • Demonstrated robust profitability and low-risk scalability through its brownfield status and integration of cathode and concentrate projects.
• Strategic Asset Review - Murchison Projects
  • Initiated a review of options for Murchison projects to maximise shareholder value and heighten focus on advancing Nifty redevelopment.
• Sale of Surplus Generators
  • Executed binding agreement to sell surplus TM2500 generators for U$6.05 million, with a U$0.6 million non-refundable deposit received. Full completion is expected by mid-February 2025, with proceeds to support working capital needs.
• Additional Corporate Highlights
  • Commenced trading on the OTCQB Venture Market in the United States of America under the ticker CYPMF.
  • Rejected a Non-Binding Indicative Offer (NBIO) from Appian Capital Advisory, reaffirming focus on internal value creation.
  • Maintained Nifty site as an active operation under regulatory permits, supporting expedited project timelines.
• Financial Position and Liquidity
  • Closed the quarter with A$14.2 million of cash, following equity receipts, generator sale deposits, and ongoing site expenses.
  • Active measures to optimise financial flexibility include a strengthened capital structure and strategic partnerships, such as the Glencore facility.

Management Summary

“The December Quarter has been a defining period for Cyprium Metals as we continue to deliver strong outcomes for our shareholders. Our achievements this quarter, including the completion of Tranche 1 of the $13.5 million placement and the release of the robust Prefeasibility Study for the Nifty Copper Complex, underscore our commitment to creating long-term value. The PFS confirmed Nifty’s potential as a cornerstone copper project with a $1.12 billion pe-tax NPV and 20-year project life, cementing its position as one of the most significant near-term copper opportunities in Australia.

“We have also taken decisive steps to optimise our asset portfolio, including the sale of surplus generators and strategic review of our Murchison assets, aligning our focus on advancing Nifty. This quarter’s progress demonstrates Cyprium’s ability to execute at pace while positioning the Company for a transformative year ahead. With a strengthened balance sheet, clear strategic priorities, and a world-class copper asset, we are poised for continued growth in 2025.”

MATT FIFIELD
Cyprium Executive Chair

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