Nifty Heap Leach Mineral Resource Estimate

Cyprium Metals Limited (ASX: CYM) (Cyprium) is pleased to announce the 2024 Mineral Resource Estimate (MRE) for the existing above-surface material stacked on the heap leach pads at the Nifty Copper Mine (Nifty) in Western Australia.

Highlights include:

• Indicated and Inferred Mineral Resource Estimate of 12.7 million tonnes grading 0.43% Cu for contained copper of 54,050 tonnes
• 2021 sonic drill campaign incorporated into drill database
• Potential for further upside as drill data does not extend to the bottom of the material on the heap leach pads

“This is back-to-basics execution,” said Cyprium Executive Chair, Matt Fifield. “Restarting the cathode plant is the next logical step for Cyprium’s new management team and the first phase of Nifty’s redevelopment. To move towards operations, we need comprehensive and up to date resource information. Our team produced this MRE by going back to first principles, organising and incorporating all prior existing data, and including new analysis from the 2021 sonic drill program. The result is the first updated MRE since 2015 for the unrecovered copper on Nifty’s heap leach pads. It’s a strong foundation on which we can build our forward plans.”

The 2024 Heap Leach MRE defines an indicated and inferred copper resource containing approx. 54,000 tonnes of copper that is supported to JORC standards through drilling information – see Table 1 below. A review of historic production data indicates that there is substantial potential resource upside from unsampled stockpiled material. This unsampled material is not able to be supported through drilling information as all drill holes were halted short of the pads to maintain the integrity of the pad and liner.

The 2024 MRE incorporates new data from a 2021 sonic drill program which was run in support of previous feasibility studies. Analysis of samples obtained from the sonic program have supported important metallurgical inputs on the drilled resource.

Table 1 – MEC August 2024 Nifty Heap Leach Mineral Resource Estimate by Resource Category.Notes: zero Cu ppm cutoff grade, no top cut applied, numbers are rounded and may not add

The 2024 Heap Leach MRE is the first update of an MRE on this material since 2015. The mineral resource in Table 1 represents the portion of the stockpile that was estimated from drill data in accordance with the JORC (2012) code.

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