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Marco Rubio heading to Panama on first trip as secretary of state: ‘We won’t continue to ignore the region’

Newly sworn-in Secretary of State Marco Rubio will travel to Panama for his first international trip as the nation’s top diplomat, Fox News has learned. 

Though details are still being worked out, the visit could come as early as next week. 

The planned trip comes after repeated vows by President Donald Trump – who returned to the White House on Monday – to take back the Panama Canal.

Trump mentioned the Panama Canal again during his inaugural address on Monday, claiming that it was now in the hands of China and vowing to take it back. 

‘China is operating the Panama Canal. And we didn’t give it to China, we gave it to Panama, and we’re taking it back,’ Trump said. 

Panamanian President José Raúl Mulino responded forcefully to Trump’s comments on Wednesday saying, ‘we reject in its entirety everything that Mr. Trump has said. First, because it is false and second, because the Panama Canal belongs to Panama and will continue to belong to Panama.’  

The U.S. built the canal in the early 1900s under then President Theodore Roosevelt as it looked for ways to facilitate the transit of commercial and military vessels between its coasts. Washington relinquished control of the waterway to Panama on Dec. 31, 1999, under a treaty signed in 1977 by then President Jimmy Carter. 

News of Rubio’s trip was first reported by Politico and could include other Central American countries like Guatemala and El Salvador, where Rubio is expected to address a top priority of curbing mass migration that he outlined earlier this week. 

State Department spokeswoman Tammy Bruce tells Fox News that ‘Secretary Rubio is prioritizing the region because it’s where we live,’ adding ‘we won’t continue to ignore the region as other administrations have.’ 

She added: ‘Engaging with our neighbors is a vital element in addressing migration, supply chains, and economic growth, which are key to Secretary Rubio’s pursuit of foreign policy focused on making America strong, prosperous, and safe.’

Fox News Digital’s Adam Shaw and The Associated Press contributed to this report. 

This post appeared first on FOX NEWS
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Coral bleaching on Australia’s Great Barrier Reef reaches ‘catastrophic’ levels, study finds

Record ocean heat has taken a devastating toll on one of the world’s greatest natural wonders, with coral bleaching on Australia’s Great Barrier Reef reaching “catastrophic” levels, a new study has found.

More than 50% of affected corals monitored near an island in the reef’s south were killed last year during the most “severe and widespread bleaching” to ever hit the area, according to a team of Australian scientists.

In 2024, the reef experienced its worst summer on record. Soaring ocean temperatures smashed records, causing the reef’s seventh mass bleaching event. Corals are bleached white when marine heat waves put corals under stress, causing them to expel algae from their tissue, draining their color.

The culprit is the burning of planet-heating fossil fuels, which is driving up global temperatures. Coral damage was also accelerated last year by the El Niño weather pattern, which heats ocean temperatures in this part of the world.

Scientists from the University of Sydney tracked 462 coral colonies at the reef’s One Tree Island over the course of five months last year, beginning at the heat wave’s peak in early February.

By May, 370 of those colonies were bleached and, by July, 52% of the bleached corals were dead, according to the peer-reviewed study published in Limnology and Oceanography Letters.

Some coral species monitored had a mortality rate of 95%, with researchers observing the start of “colony collapse” where the dead skeleton detaches from the reef and turns to rubble.

Another species, the Goniopora, became infected by black band disease, which invades the coral’s tissue and can kill it.

“Our findings underscore the urgent need for action to protect coral reefs, which are not only biodiversity hotspots but also crucial for food security and coastal protection,” said lead author Maria Byrne, from the School of Life and Environmental Sciences at the university.

Byrne said the area studied is in a protected part of the reef, far from the coast and free from mining activities and tourism.

But the reef, “despite its protected status, was not immune to the extreme heat stress that triggered this catastrophic bleaching event,” she said.

Covering nearly 133,000 square miles (345,000 square kilometers), the Great Barrier Reef is the world’s largest coral reef, home to more than 1,500 species of fish and 411 species of hard corals. It contributes billions of dollars to the Australian economy each year, mainly through tourism, and is promoted heavily to foreign visitors as one of the country’s – and the world’s – greatest natural wonders.

The authors said mass bleaching is becoming “a biennial event” and as such “reinforces the need for urgent global action now to adhere to ambitious climate and reduced emissions targets.”

The bleaching hit areas of the reef not impacted before, and disease and death were found in coral species considered resilient, the study found.

“Seeing the impacts on a reef that has largely avoided mass bleaching until now is devastating,” said Shawna Foo, a marine scientist and co-author of the study. “The high rates of mortality and disease, particularly in such a remote and pristine area, highlight the severity of the situation.”

Severe mass bleaching at the Great Barrier Reef had previously been observed in 1998, 2002, 2016, 2017, 2020 and 2022.

The 2022 bleaching was the first during a La Niña event, El Niño’s counterpart, which tends to have a cooling influence – raising serious concerns about the reef’s outlook.

The authors said their research was a “wake-up call for policymakers and conservationists” as its implications extend beyond ecology and conservation to communities that depend on the reef for fishing, tourism and coastal protection.

“The resilience of coral reefs is being tested like never before, and we must prioritize strategies that enhance their ability to withstand climate change,” said Ana Vila Concejo, co-author of the study from the university’s School of Geosciences.

“Our findings underscore the need for immediate and effective management interventions to safeguard these ecosystems.”

This post appeared first on cnn.com
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Eclipse Metals Ltd Progresses Grønnedal Resource Expansion: Analytical Assessment of Historical Drill Core Samples Underway

Eclipse Metals Ltd (ASX: EPM) (Eclipse Metals or the Company) is pleased to update shareholders on recent progress at its Grønnedal prospect, located within the Ivigtût Project in southwestern Greenland. Building on the October 2024 announcement, the Company has taken significant steps to expand its maiden JORC Code (2012) compliant Mineral Resource Estimate (MRE). The current MRE, comprising 1.18Mt grading 6,859ppmm Total Rare Earth Oxides (TREO) (Table 1, Appendix 1), is based on limited shallow drill testing of a small section amounting to less than approximately 5% of a larger carbonatite complex that is enriched in rare earths mineralisation.

HIGHLIGHTS:

  • Calibrated Analysis in Progress: Samples from six historical Grønnedal drill holes are being used to refine and validate XRF results for precise resource estimation.
  • Focus on Rare Earth Elements (REE): Analytical emphasis on REE geochemistry, with additional investigation into niobium (Nb) and gallium (Ga) mineralisation.
  • Advanced Mineralogical Studies: Mineralogy using TIMA technology aims to correlate geochemical data with mineral phases.
  • Results Timeline: Laboratory analyses are underway in Sweden, with outcomes anticipated in Q1 2025.

In 1950, Kryolitselskabet Øresund A/S, (Cryolite Miner), drilled six diamond holes in the vicinity of the Grønnedal resource to test for a potential iron ore deposit. This drilling extends to depths of up to 200m. During 2024 Eclipse completed XRF analyses of the core from these drillholes, which is stored in Gothenburg. The analysis comprised automated core-scanning using the Minalyze XRF TruScan technology developed by Veracio in Gothenburg, Sweden,

The XRF analysis confirmed the qualitative presence of REE mineralisation. Selected intervals of the core are currently being verified by laboratory analysis. This phase focuses on REE geochemistry, particularly neodymium (Nd), praseodymium (Pr), dysprosium (Dy), and terbium (Tb), which are pivotal for magnet applications.

Selected samples are also being analysed by TIMA (TESCAN Integrated Mineral Analyser) mineralogical analysis in order to align chemical analyses with specific mineralogical features, thus enhancing the understanding of resource quality and distribution.

GEOLOGY

The Grønnedal MRE is located at the northern end of Central Carbonatite which covers an area of 1,400m by 750m (Figure 1). The Central Carbonatite forms part of a larger complex that includes the Northern Carbonatite that is yet to be tested for REE. The Central Carbonatite is enclosed within syenitic rocks and is intruded by a series of north-easterly trending dolerite, basaltic and trachytic dykes (Figure 2). The depth to which the carbonatite extends is yet to be determined. Data from the deeper historic diamond drillholes, all of which ended in mineralisation, reveal a minimum vertical extent of 170m.

The footprint of the current MRE is defined through shallow trenching and drilling over a 300m x150m area which represents a small fraction of the Central Carbonatite. The resource is open- ended in all directions and at depth. Confirmation of REE in the historic diamond holes, which were drilled outside of the resource envelope, is considered to be significant as it indicates continuation of mineralisation into areas that remain untested.

Click here for the full ASX Release

This post appeared first on investingnews.com
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Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

Cyclopharm Limited (ASX: CYC) is pleased to announce the signing of a major contract with Hospital Corporation of America Healthcare (HCA), one of the largest single healthcare providers in the United States. This agreement marks a significant milestone for the company which will allow the deployment of Technegas® in up to 169 nuclear medicine departments across HCA’s extensive network.1

HCA Healthcare operates one of the most comprehensive hospital networks in the US, encompassing over 180 hospitals and approximately 2,400 sites of care in 20 states.

The national contract covering the deployment of Technegas in nuclear medicine departments across the entire HCA network was instigated by HCA after multiple of its sites entered into independent discussions with Cyclopharm regarding Technegas. This prompted HCA head office to initiate the creation of a broad-based contract which will bypass the need for individual site contract negotiations and most efficiently streamline the deployment of Technegas technology.

The agreement further underscores the commercial demand for Technegas which is already the preferred agent of choice in 65 countries outside the US for diagnosing lung conditions, including pulmonary embolism, hypertension, chronic obstructive pulmonary disease (COPD), and other respiratory diseases.

Cyclopharm CEO James McBrayer said, “We are thrilled to partner with HCA Healthcare, a leader in delivering quality care to millions of patients annually. This 3-year agreement will allow for the accelerated availability of Technegas across the US and reinforces our commitment to improving outcomes for patients with respiratory conditions.”

As well as streamlining implentation across up to 169 HCA nuclear medicine departments, today’s agreement opens discussions with the HealthTrust Purchasing Group (HealthTrust)2, HCA’s affiliated group purchasing organisation (GPO) that serves as the contracting and purchasing arm to a further network of over 1,800 hospitals in the USA.

Cyclopharm will now engage directly with individual HCA locations, clinical leaders and Divisional Directors to implement Technegas, prioritising those sites which had already entered preliminary discussions with Cyclopharm.

Technegas has been recognized globally for its ability to provide precise and reliable functional lung imaging. With this contract, HCA facilities will be at the forefront of adopting advanced nuclear medicine technology, ensuring better diagnostic and therapeutic options for their patients.

Mr. McBrayer concluded, “This agreement not only extends the footprint of Technegas in the US market but also sets the stage for its broader adoption within HealthTrust’s extensive network. We are proud to support HCA in its mission to provide exceptional care and are eager to see the positive impact of our technology on patients and clinicians alike.”

Click here for the full ASX Release

This post appeared first on investingnews.com
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Hannity reveals what he told Trump after 2020 election loss: ‘Winston Churchill’ return

Fox News host Sean Hannity revealed he told President Donald Trump after the 2020 election loss that a return to the White House four years after the Biden administration would be ‘bigger’ than a consecutive win, comparing it to Winston Churchill’s return as prime minister following World War II.

‘Maybe I shouldn’t disclose this, but I will, and it was after the 2020 election, and you asked me a question. And we’ve known each other for 30 years, so we have a friendship and we have a professional relationship,’ Hannity said in his exclusive interview with Trump on Wednesday. 

‘And the question you asked me, ‘maybe in the end, it will be better that if I came back in four years.’ And we talked about history. After World War Two, Winston Churchill was thrown out, but they brought him back. Grover Cleveland, the only other American president that did not serve consecutive terms,’ he continued. 

Churchill served as prime minister twice, from 1940-1945 and again from 1951 to 1955. Trump is the second U.S. president to serve two, non-consecutive terms behind President Grover Cleveland, the nation’s 22nd and 24th president. 

Hannity explained that he believed ‘it would be bigger if you came back.’ Trump agreed that it’s already shaping up that way after three days in office. 

‘It’s turning out to be bigger. And I think one thing is happening is people are learning that they can’t govern and that their policies are terrible. I mean, they don’t want to see a woman get pummeled by a man in a boxing ring?’ he said. 

Trump sat down for his first interview in the White House on Wednesday after he was sworn in as the 47th president on Monday. 

‘They don’t want to see men in women’s sports … They don’t want to have transgender for everyone. They don’t want a child leave home as a boy and come back two days later as a girl. A parent doesn’t want to see that, and there are states where that can happen. They don’t want to see taxes go through the roof like this,’ he continued. 

This post appeared first on FOX NEWS
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Department of Justice freezes all civil rights division cases: report

The U.S. Department of Justice (DOJ) sent a memo to its civil rights division, ordering a freeze to all ongoing litigation originating from the Biden administration and halting the pursuit of any new cases or settlements, according to reports.

The Washington Post first reported that a memo sent to Kathleen Wolfe, the temporary head of the division appointed by the Trump administration, instructed her to make sure attorneys do not file ‘any new complaints, motions to intervene, agree-upon remands, amicus briefs, or statements of interest.’

As to how long the freeze will last, the memo does not say, though it practically ceases the division until President Donald Trump’s nomination to lead the department, Harmeet Dhillon, is confirmed by the Senate.

The publication also reported the freeze was ‘consistent with the Department’s goal of ensuring that the Federal Government speaks with one voice in its view of the law and to ensure that the President’s appointees or designees have the opportunity to decide whether to initiate any new cases.’

A source familiar with the memo confirmed its contents to Fox News.

The DOJ had no comment on the matter.

Wolfe was also told in another memo that the division must tell the chief of staff of the DOJ about any consent decrees finalized by the division over the past 90 days.

Earlier this month, a Kentucky judge declined to immediately sign a police reform consent decree forged by the DOJ and the city of Louisville during a hearing one courtroom participant described as a hasty attempt by the Biden administration to hamstring incoming President Trump.

But federal Judge Benjamin Beaton refused to be a ‘rubber stamp’ for a 240-page reform plan prompted by the 2020 police-involved shooting of Breonna Taylor, according to Oversight Project counsel Kyle Brosnan.

Taylor was killed in a hail of police gunfire after Louisville officers sought to serve a drug warrant at her boyfriend Kenneth Walker’s house. Walker fired a ‘warning shot’ through the door and struck Officer Jonathan Mattingly in the leg.

A consent decree, Brosnan noted, is different from other legal agreements in that it cannot simply be reversed by presidential order or a change of heart by one of the parties involved.

The consent decree alleged a pattern or practice of racial bias in Louisville policing, including in traffic stops, sexual assault probes or use of force.

There are at least two other police reform consent decrees going through the legal process, one in Maryland and one in Minnesota.

On Jan. 6, the DOJ reached an agreement with Minneapolis, which still requires court approval, to reform the department’s ‘unconstitutional and unlawful practices’ allegedly counter to the Americans With Disabilities Act and 14th Amendment.

In October 2024, the feds sued the Maryland Department of State Police alleging Civil Rights Act violations.

‘The United States claims MDSP violated Title VII when it used a certain physical fitness test and a certain written test to hire entry-level Troopers because the tests disqualified more female and African-American applicants than others and were not job related,’ a court document states. 

Maryland police dispute the allegations.

Fox News Digital’s Charles Creitz contributed to this report.

This post appeared first on FOX NEWS
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Rail accident kills 12 in western India after passengers jump onto tracks over fire alert

At least 12 train passengers were killed in western India Wednesday after being struck by another train on an adjacent track after they jumped from their coaches in panic to escape a rumored fire incident, the Press Trust of India reported.

At least six other people were injured, the news agency cited police officer Dattatraya Karale as saying.

The accident occurred in Jalgaon, one of the largest cities in Maharashtra, near the Pardhade railroad station, 410 kilometers (255 miles) northeast of Mumbai, India’s financial capital.

PTI said the victims jumped off the Pushpak Express train, which had stopped after some passengers pulled an emergency chain. Those who disembarked were hit by another express train on the adjacent railroad track, PTI quoted railway spokesman Swapnil Nila as saying.

“Our preliminary information is that there were sparks inside one of the coaches of the Pushpak Express due to either a ‘hot axle’ or ‘brake-binding’ (jamming), and some passengers panicked. They pulled the chain, and some of them jumped down on the tracks. At the same time, Karnataka Express was passing on the adjoining track,” a senior railway official told PTI.

Despite government efforts to improve rail safety, hundred of accidents occur every year on India’s railways, which is the largest train network under one management in the world.

In 2023, two passenger trains collided after derailing in eastern India, killing more than 280 people and injuring hundreds in one of the country’s deadliest rail crashes in decades.

Prime Minister Narendra Modi is focusing on the modernization of the British colonial-era railroad network in India, which has become the world’s most populous country with 1.42 billion people.

This post appeared first on cnn.com
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China’s navy commissions new-generation frigate as competition rises with US and others

China’s navy has commissioned a new-generation frigate as competition rises with the US and other regional powers, saying the ship will “play a vital role in enhancing the overall combat effectiveness” of its forces.

China already has the world’s largest navy in terms of number of hulls, although its technology is sometimes seen as lagging. Its largest competitor, the US, has warned its Navy could be outnumbered and has called for a building program as well as reforms to put damaged ships into action sooner.

China’s People’s Liberation Army Navy operates mainly in waters off the Chinese east coast and in the huge and strategically crucial South China Sea, which China claims almost in its entirety. A key mission also remains backing up the army in any attack on Taiwan, the self-governing island democracy about 160 kilometers (100 miles) off the Chinese coast that Beijing has vowed to annex by force if necessary.

The first Type 054B frigate, christened the Luohe, was commissioned Wednesday in Qingdao, a port city in northern China where the PLAN’s northern fleet is based.

The ship has a displacement of approximately 5,000 tons and includes stealth technology, combat command systems and firepower integration, “significantly enhancing overall performance,” the navy said.

“With strong capabilities for comprehensive combat operations and diverse military missions, the warship will play a vital role in enhancing the overall combat effectiveness of naval task forces,” it added.

The Luohe’s armaments include a variety of machine guns for close combat and anti-air and anti-ship missiles, according to defense publications, some of which say the ship could become the backbone of the Chinese navy.

The statement said nothing about future 054Bs, but at least two more are believed to have been launched and another is under construction. China has around 234 warships compared to the US Navy’s 219, including around 50 frigates and the same number of destroyers. China has two operating aircraft carriers and another undergoing sea trials, along with a massive and powerful coast guard.

Recent wargames have shown China would lose many more vessels in a simulated clash with the US, but would be able to absorb the losses and continue fighting.

The PLAN has also sent ships further abroad including the Mediterranean Sea and the Caribbean in its attempts to use its navy as an extension of its growing economic and diplomatic clout. PLAN and Chinese coast guard ships have also patrolled in the East China Sea, where China claims a group of uninhabited islands controlled by Japan. While planes and ships from both sides have come into contact, no shots have been fired during such incidents.

The US and other nations have deliberately sailed close to islands, some of them human-made, to challenge China’s claim to them. Beijing has ignored a UN-backed court’s ruling that threw out most of China’s territorial claims.

This post appeared first on cnn.com
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Cygnus’ first drill hole returns up to 9.1% Cu outside Resource

The outstanding intersection of   7.3m at 4.2%   Cu reveals a potential new lode ~250m from the main deposit; Follow-up downhole EM identifies a large off-hole conductor; Two diamond drill rigs currently on site

HIGHLIGHTS:

  • High-grade result of   7.3m @ 4.2% Cu, 0.3g/t Au & 16.6g/t Ag   from 317.8m
    • Including 2.5m @ 9.1% Cu, 0.5g/t Au & 31.4g/t Ag
  • The result reveals a potential new lode ~250m from Corner Bay, which is the primary deposit at the Chibougamau Project; Corner Bay has Indicated Mineral Resources of 2.7Mt at 2.7% Cu & 0.3g/t Au and Inferred Mineral Resources of 5.9Mt at 3.4% Cu & 0.3g/t Au 1
  • The recent intersection is associated with a significant off hole electromagnetic anomaly (530m x 460m) which has not yet been drilled
  • The result highlights the potential for multiple sub-parallel lodes at Corner Bay analogous to other well-known deposits in the region; two diamond rigs are on site across both Corner Bay and other drilling targets with further results anticipated this half
  • The Chibougamau district is a world class mineral terrane with high potential for additional discovery, having historically produced over 945,000t of copper and 3.5Moz of gold 2
  • The Project has excellent infrastructure with a 900,000tpa processing facility, local mining town, sealed highway, airport, regional rail infrastructure and 25kV hydro power to the processing site
Cygnus Executive Chairman, David Southam said   : ‘We are delighted to hit the ground running with an excellent intersection from a previously undrilled area which is only 250m away from main Corner Bay Deposit.

‘This result supports our view that there is much more to find at Chibougamau, both near the existing deposits and in the wider region, and is consistent with our strategy to create shareholder value by growing the resource.

‘The downhole geophysics is already proving to be a key tool for the project and will help us unlock other under-explored areas of the project’.

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.

Cygnus Metals Limited (ASX: CY5; TSXV: CYG) (‘Cygnus’ or the ‘Company’) is pleased to announce that it has made an outstanding start to its exploration campaign at the Chibougamau Copper-Gold Project in Quebec, Canada, with the first hole returning assays of up to 2.5m @ 9.1% Copper .

Prior to the merger of Cygnus and Doré Copper Mining Corp. closing, both teams executed a targeted exploration program to test the immediate areas around the Corner Bay deposit, looking for both additional structures and extensions to the current resource.

The first drillhole from this program has returned an intersection of 7.3m @ 4.2% Cu, 0.3g/t Au & 16.6g/t Ag, including   2.5m @ 9.1% Cu, 0.5g/t Au & 31.4g/t Ag from a potential new lode ~250m east of the existing resource in the footwall of the Corner Bay deposit. Follow up downhole electromagnetics has since defined a significant off hole electromagnetic anomaly (530m x 460m) to the north and down dip of the intersection that has yet to be tested by drilling.

Picture1_Core 24-100

Image 1: High grade drill core from CB-24-100 intersecting 7.3m @ @ 4.2% Cu, 0.3g/t Au & 16.6g/t Ag.
Image showing core between 321.9m and 322.6m.

Figure 1_Long Section

Figure 1: Long section of the Corner Bay deposit with potential new lode in the footwall of the main deposit. Large 530mx460m untested EM plate along with further untested EM plates to the south.

About the Drilling and Geophysical Results

The first hole of the program (CB-24-100) targeting the footwall of the Corner Bay deposit has intersected a potential new sub parallel lode with a high-grade drill result of 7.3m @ 4.2% Cu, 0.3g/t Au & 16.6g/t Ag from 317.8m, which includes 2.5m @ 9.1% Cu, 0.5g/t Au & 31.4g/t Ag .

The result highlights the potential for multiple sub-parallel lodes at the Corner Bay deposit analogous to other well-known deposits in the region. This new structure sits 250m to the east of the Main Lode at Corner Bay in an area with very little drilling. This presents an exciting target for follow up drilling and an opportunity to add to the existing resources at Corner Bay.

In addition, follow up electromagnetics (‘EM’) completed on the recent drilling has defined a large (530m x 460m) conductive plate offset to the north and down dip of drillhole CB-24-100. EM is known to correspond well with the mineralisation style at the Chibougamau mining camp, being primarily composed of chalcopyrite with minor amounts of pyrite and pyrrhotite. Historically, airborne EM has been used to make some of the discoveries in the region, although ground and downhole EM has been underutilised in more recent times. The large EM plate provides a priority target for follow up exploration along this structure.

Figure 2_Plan View

Figure 2: Plan view of the Corner Bay deposit with potential new lode to the east of the Main Lode at Corner Bay. Also illustrating other untested EM plates.

Ongoing Drilling

In line with the Company’s resource growth strategy, drilling is underway 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.

About the Corner Bay Deposit

Cygnus’ flagship Corner Bay deposit within the Chibougamau Project is located 17km (straight line) south of the Chibougamau processing facility. The deposit was discovered in the 1980s and has never been mined although ramp access was established to 115m for the purpose of initial bulk sampling test work.

The deposit is the primary resource in the combined Project resources, making up 79% of the total resource with Indicated Mineral Resources of 2.7Mt @ 2.7% Cu & 0.3g/t Au and Inferred Mineral Resources of 5.9Mt @ 3.4% Cu and 0.3g/t Au. 1

Mineralisation extends from surface and has been defined over 1,000m of strike and to a depth of 1,350m with mineralisation remaining open in all directions. The mineralisation is structurally controlled and hosted as a north-south striking quartz-carbonate vein with semi massive chalcopyrite and minor pyrite mineralisation. The main lode has been crosscut and offset by a large diabase dyke with an upper and lower portion of the lode positioned either side of the dyke.

The Corner Bay deposit sits on the southern flank of the Chibougamau pluton and has seen minimal exploration compared to the north. The northern flank is host to 16 mined deposits and has contributed a significant portion of the regions historic production ~945,000t of copper and 3.5Moz of gold. 2 Corner Bay in the south shares comparable lithological and structural characteristics to the northern deposits, however, as the northern mines developed, multiple sub-parallel lodes were subsequently discovered within the same structural corridor. Due to the relatively early stage of defining the Corner Bay deposit, potential parallel lodes and resource extension have not yet been properly explored and the latest intersection highlights the potential for additional sub-parallel lodes within the immediate vicinity of the current resources.

About the Chibougamau Copper-Gold Project

The Chibougamau copper-gold project (‘Chibougamau 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 Chibougamau Project is centred on the Chibougamau pluton with a district wide historic production of 53.5Mt @ 1.8% Cu and 2.1g/t Au 2 with periodic mining between the early 1900s and 2008. Over this long mining history, the district has produced over 945,000t of copper and 3.5Moz of gold from 16 former producing mines. 2

The Chibougamau Project has high-grade resources including a Measured and Indicated Mineral Resources of 3.6Mt at 2.5% Cu & 0.6g/t Au and Inferred Mineral Resources of 7.2Mt at 3.0% Cu & 1.1g/t Au with significant potential to grow. 1

The Company has a clear strategy to:

  • Rapidly grow the resource through brownfield exploration and investment in drilling; and
  • Advance the project towards development through study work and utilising existing infrastructure.

The Company sees a huge 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.

Figure 3_Location Map

Figure 3: 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
Executive Chair
T: +61 8 6118 1627
E: info@cygnusmetals.com 		Ernest Mast
President & Managing Director
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) 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 breakdown of the Mineral Resource Estimate.
  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 Mineral Reserves and Resources in Quebec listed in Fig. 3: (a) at Monster Lake and Nelligan as of 31 December 2023, refer to IAMGOLD Corporation’s 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 Lamaque Complex as of 30 September 2024, refer to Eldorado Gold’s news release dated 11 December 2024 (d) at Canadian Malartic Complex as of 30 September 2024, refer to Agnico Eagle’s news release dated 15 February 2024; (e) at Opemiska, refer to XXIX’s news release dated 8 January 2024; (f) at Roger, refer to the SOQUEM and Enforcer Gold Corp’s NI 43-101 Technical Report dated 9 October 2018; and (g) at Chevrier, refer to Northern Superior Resources’s news release dated 24 January 2022.

Qualified Persons and Compliance Statements

The scientific and technical information in this news release 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 Exploration Results disclosed in this announcement are also based on and fairly represent information and supporting documentation compiled by Mr Beaupre. Mr Beaupre holds options in Cygnus. Mr Beaupre is a member of the Ordre des ingenieurs du Quebec (P Eng), a Registered Overseas Professional Organisation as defined in the ASX Listing Rules, and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Beaupre consents to the inclusion in this release of the matters based on the information in the form and context in which they appear.

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 original announcement 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 – Significant Intersections

Coordinates given in UTM NAD83 (Zone 18). Intercept lengths may not add up due to rounding to the appropriate reporting precision . Significant intersections reported above 0.5% copper or 0.5g/t gold over widths of greater than 1m containing a maximum of 3m internal waste. The true width is estimated at approximately 75% of the downhole width.

Hole ID X Y Z Azi Dip Depth From to Interval Cu % Au g/t Ag g/t Mo ppm
CB-24-100 555047 5509802 400 90 -65 498.0 317.1 324.4 7.3 4.2 0.3 16.6 170
Including 321.9 324.4 2.5 9.1 0.5 31.4 183


APPENDIX B – Chibougamau Copper-Gold Project – Foreign Mineral Resource Estimate Disclosures as at 30 March 2022

Deposit Category Tonnes
(k) 		Cu Grade
(%) 		Au Grade
(g/t) 		Cu Metal
(kt) 		Au Metal
(koz)
Corner Bay (2022) Indicated 2,700 2.7 0.3 71 22
Inferred 5,900 3.4 0.3 201 51
Devlin (2022) Measured 120 2.7 0.3 3 1
Indicated 660 2.1 0.2 14 4
Measured & Indicated 780 2.2 0.2 17 5
Inferred 480 1.8 0.2 9 3
Joe Mann (2022) Inferred 610 0.2 6.8 1 133
Cedar Bay (2018) Indicated 130 1.6 9.4 2 39
Inferred 230 2.1 8.3 5 61
Total Measured & Indicated 3,600 2.5 0.6 90 66
Total Inferred 7,200 3.0 1.1 216 248


APPENDIX C – 2012 JORC Table 1

Section 1 Sampling Techniques and Data

Criteria JORC Code explanation Commentary
Sampling techniques Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
  • All current drilling conducted at the Chibougamau Project was completed under the supervision of a registered professional geologist as a Qualified Person (QP) who is responsible and accountable for the planning, execution, and supervision of all exploration activity as well as the implementation of quality assurance programs and reporting.
  • All drilling reported is NQ2 (47.8 mm diameter)
Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
  • NQ core was marked for splitting during logging and is sawn using a diamond core saw with a mounted jig to assure the core is cut lengthwise into equal halves.
  • Half of the cut core is placed in clean individual plastic bags with the appropriate sample tag.
  • The remaining half of the core is retained and incorporated into Cygnus’s secure, core library located on the property
Aspects of the determination of mineralisation that are Material to the Public Report.

In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

  • Industry standard sampling practices were used with sample lengths ranging from 0.3 m to 1.0 m and respected geological contacts. Sample tags were placed at the beginning of each sample interval and the tag numbers were recorded in an MS Excel database.
  • Sampling practice is considered to be appropriate to the geology and style of mineralisation
Drilling techniques Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
  • Diamond core was drilled using surface diamond rigs with industry recognised contractors Miikan Drilling. Miikan is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nations community of Ouje-Bougoumou and the First Nations community of Mistissini both located in the Eeyou Istchee territory.
  • Drilling was conducted using NQ core size
  • Directional surveys have been taken at 50m intervals
Drill sample recovery Method of recording and assessing core and chip sample recoveries and results assessed.

Measures taken to maximise sample recovery and ensure representative nature of the samples.

Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

  • Diamond core recovery was measured for each run and calculated as a percentage of the drilled interval.
  • Overall, the core recoveries are excellent in the Chibougamau area
Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
  • All core was geologically and geotechnically logged. Lithology, veining, alteration and mineralisation are recorded in multiple tables of the drillhole database
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
  • Geological logging of core is qualitative and descriptive in nature.
The total length and percentage of the relevant intersections logged.
  • 100% of the core has been logged
Sub-sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

For all sample types, the nature, quality and appropriateness of the sample preparation technique.

Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled.

  • The NQ2 diameter the core was sawn in half following a sample cutting line determined by geologists during logging and submitted for analysis on nominal 1m intervals or defined by geological boundaries determined by the logging geologist
  • Each core sample is assigned a tag with a unique identifying number. Sample lengths are typically one metre but can be depending on zone mineralogy and boundaries.
  • This sampling technique is industry standard and deemed appropriate.
Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
  • Sample (NQ size half core) preparation and fire assay analysis were done at Bureau Veritas Commodities Canada Ltd (‘BV’) in Timmins, Ontario, and ICP-ES multi-elements analysis was done at BV in Vancouver, B.C.
  • Samples were weighed, dried, crushed to 70% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 µm.
  • Samples are fire assayed for gold (Au) (30 g) and multi-acid digestion ICP-ES finish, for 23 elements (including key elements Ag, Cu, Mo).
  • Samples assaying >10.0 g/t Au are re-analysed with a gravimetric finish using a 30 g charge. Samples assaying >10% Cu are re-analysed with a sodium peroxide fusion with ICP-ES analysis using a 0.25 g charge.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
  • None used.
Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
  • Laboratory QC procedures involve the use of internal certified reference material as assay standards, along with blanks, duplicates and replicates
Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel.
    The use of twinned holes.
    • No hole is twinned
    Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
    • All logging data was completed, core marked up, logging and sampling data was entered directly into the database.
    • The logged data is stored on the site server directly.
    Discuss any adjustment to assay data.
    • There was no adjustment to the assay data
    Location of
    data points     		Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
    • The location of the drillholes and the aiming points for the orientation of the drillholes were indicated on the ground using identified stakes. The stakes marking the location of the drillholes were set up and located with a Garmin GPS model ‘GPSmap 62s’ (4m accuracy)
    • Surveys are collected using a Reflex EZ-Shot® single-shot electronic instrument with readings collected at intervals of approximately every 30 m downhole plus a reading at the bottom of the hole
    Specification of the grid system used.
    • The grid system used is UTM NAD83 (Zone 18)
    Quality and adequacy of topographic control.
    • A Digital Terrane Model (DTM) has been used to accurately plot the vertical position of the holes
    Data spacing and distribution Data spacing for reporting of Exploration Results.
    • The spacing is considered appropriate for this type of exploration
    Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
    • No resource estimation is made
    Whether sample compositing has been applied.
    • No sample compositing has been applied
    Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
    • Drilling is orientated approximately at right angles to the currently interpreted strike of the known interpreted mineralisation. Reported intersections appear close to true width
    If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
    • No bias is considered to have been introduced by the existing sampling orientation
    Sample security The measures taken to ensure sample security.
    • Core was placed in wooden core boxes close to the drill rig by the drilling contractor. The core was collected daily by the drilling contractor and delivered to the secure core logging facility. Access to the core logging facility is limited to Cygnus employees or designates
    Audits or reviews The results of any audits or reviews of sampling techniques and data.
    • No audits have been undertaken, therefore information on audits or reviews is not yet available

    Section 2 Reporting of Exploration Results

    (Criteria listed in the preceding section also apply to this section.)

    Criteria JORC Code Explanation Commentary
    Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
    • The data reported within this announcement is from the Chibougamau Project. The Chibougamau project consists of 3 properties which includes:
      • Copper Rand (1 mining license, 19 mining concession and 147 exploration claims)
      • Corner Bay – Devlin (1 mining license, 111 exploration claims)
      • Joe Mann (2 mining concessions, 74 exploration claims)
    • Copper Rand and Corner Bay – Devlin are held 100% by CBAY minerals Inc, a wholly owned subsidiary of Dore Copper.
    • 767ha of the Joe Mann property is held by CBAY with the remaining 1965ha held under option agreement with Resources Jessie.
    • The properties collectively making up the Project are in good standing based on the Ministry of Energy and Natural Resources (Ministère de l’Énergie et des Ressources Naturelles) GESTIM claim management system of the Government of Québec.
    The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
    • All tenure is in good standing
    Exploration done by other parties Acknowledgment and appraisal of exploration by other parties.
    • Corner Bay was first identified as a prospect in 1956
      • 1956 – 1972 eight drilling programs totalling 1,463 m and various geophysical and electromagnetic (EM) surveys
      • 1973 – 1981 Riocanex and Flanagan McAdam: ground geophysical surveys and 43 diamond drill holes
      • 1982 – 1984 Riocanex and Corner Bay Exploration: 38 drill holes and metallurgical test work
      • 1988 – 1991 Corner Bay Exploration: diamond drilling, geophysical surveys and geological characterisation with initial MRE
      • 1992 – 1994 SOQUEM optioned and acquired a 30% interest, and completed diamond drilling
      • 1994 Explorations Cache Inc and Ressources MSV Inc: diamond drilling
      • 2004 – 2006 GéoNova and MSV: 98 diamond drill holes and first Technical Report on the Corner Bay project reporting a MRE
      • 2007 – 2009 Campbell: diamond drilling and bulk sample
      • 2012 – 2019 CBAY / AmAuCu: diamond drilling and MRE
    • Devlin identified in 1972 by airborne survey flown by the MERN
      • 1979 – 1981 diamond drilling, geophysical surveys
      • 1981 development commenced
    • Joe Mann identified in 1950 with the commencement of mining activities occurring in 1956
      • The Joe Mann mine operated underground during three different periods from 1956 to 2007
      • In July 2012, Ressources Jessie acquired the Joe Mann mine property, but conducted only surface exploration work
    • Cedar Bay was discovered prior to 1927 by Chibougamau McKenzie Mines Ltd
      • From initial discovery to 2013 various surface and underground drilling campaigns and geophysical surveys undertaken by various companies
    Geology Deposit type, geological setting and style of mineralisation.
    • Corner Bay and Devlin are located at the northeastern extremity of the Abitibi subprovince in the Superior province of the Canadian Shield and are examples of Chibougamau-type copper-gold deposits. The Abitibi subprovince is considered as one of the largest and best-preserved greenstone belts in the world and hosts numerous gold and base metal deposits.
    • The Corner Bay deposit is located on the southern flank of the Doré Lake Complex (DLC). It is hosted by a N 15° trending shear zone more or less continuous with a strong 75° to 85° dip towards the west. The host anorthosite rock is sheared and sericitized over widths of 2 m to 25 m. The deposit is cut by a diabase dyke and is limited to the north by a fault structure and to the south by the LaChib deformation zone.
    • The Corner Bay deposit consists of three main mineralized lodes (subparallel Main Lode 1 and Main Lode 2 above the dyke, and Main Lode below the dyke that make up the bulk of the deposit. The Corner Bay deposit has been traced over a strike length to over 1,100 m to a depth of 1,350 m and remains open at depth.
    • The mineralization is characterized by veins and/or lenses of massive to semi-massive sulphides associated with a brecciated to locally massive quartz-calcite material. The sulphide assemblage is composed of chalcopyrite, pyrite, and pyrrhotite with lesser amounts of molybdenite and sphalerite. Late remobilized quartz-chalcopyrite-pyrite veins occur in a wide halo around the main mineralization zones.
    • Devlin is a flat-lying, copper-rich lodes-hosted deposit in a polygenic igneous breccia that is less than 100 m from the surface. The tabular bodies have been modelled as four nearly horizontal lodes: a more continuous lower zone and three smaller lodes comprising the upper zone. Mineralization is reflected as a fracture zone often composed of two or more sulphide-quartz lodes and stringers. Thickness of the mineralized zones range from 0.5 m to 4.4 m. It has been diluted during modelling to reflect a minimum mining height of 1.8 m.
    • The Joe Mann deposit is characterized by east-west striking shear hosted lodes that extend beyond 1,000 m vertically with mineralization identified over a 3 km strike length. These shear zones form part of the Opawica-Guercheville deformation zone, a major deformation corridor cutting the mafic volcanic rocks of the Obatogamau Formation in the north part of the Caopatina Segment. The gabbro sill hosts the Main Zone and the West Zone at the mine, while the South Zone is found in the rhyolite. These three subvertical E-W (N275°/85°) ductile-brittle shear zones are sub-parallel to stratigraphy and to one another, with up to 140 m to 170 m of separation between them. These shear zones are hosted within a stratigraphic package composed of iron-magnesium (Fe-Mg) carbonate and sericite altered gabbro sills, sheared basalts, and intermediate to felsic tuffs intruded by various felsic intrusions. The Joe Mann gold mineralization is hosted by decimetre scale quartz-carbonate lodes (Dion and Guha 1988). The lodes are mineralized with pyrite, pyrrhotite, and chalcopyrite disposed in lens and lodelets parallel to schistosity, and occasionally visible gold. There are some other minor, mineralized structures, e.g., North and South-South Zones, with limited vertical and horizontal extensions.
    Drill hole Information A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
    • easting and northing of the drill hole collar
    • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
    • dip and azimuth of the hole
    • down hole length and interception depth
    • hole length.

    If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

    • All requisite drillhole information is tabulated elsewhere in this release. Refer Appendix A of the body text
    Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.
    • All drill hole intersections are reported above a lower cut-off grade of 0.5% copper.
    Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
    • A maximum of 1m internal waste was allowed
    The assumptions used for any reporting of metal equivalent values should be clearly stated.
    • No metal equivalents reported
    Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results.

    If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

    If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).

    • All intersections reported in the body of this release are down hole.
    • The majority of the drill holes in the database are drilled as close to orthogonal to the plane of the mineralized lodes as possible.
    • Only down hole lengths are reported.
    Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
    • Included elsewhere in this release. Refer figures in the body text
    Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
    • All results greater than 0.5% Cu and 0.5g/t Au have been reported at greater than 1m width
    Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
    • Appropriate plans are included in the body of this release.
    Further work The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

    Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

    • The Company will be conducting drill testing of additional mineralisation as well as step out drilling of existing lodes to further enhance the resources quoted in this release. More information is presented in the body of this report.
    • Diagrams in the main body of this release show areas of possible resource extension on existing lodes. The company continues to identify and assess multiple other target areas within the property boundary for additional resources.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d4226cfa-c57c-44d7-b1cb-f150e81bf696

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ecb1a5d2-37ba-4270-9bdf-bb9b65091a5d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/96fc0ed6-dca0-457b-803c-8c010a1ac7f5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e2c4ab7d-c281-4baf-894f-4c4464869e14

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