Cygnus Metals Limited: Results of First Court Hearing

TORONTO and PERTH, Western Australia, Aug. 13, 2026 (GLOBE NEWSWIRE) — Cygnus Metals Limited (ASX:CY5, TSXV:CYG, OTCQB:CYGGF) ( Cygnus or the Company ) refers to the proposed transaction under which Central Asia Metals PLC (AIM: CAML) ( CAML ) will acquire 100% of the shares in Cygnus pursuant to a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) ( Corporations Act ) ( Scheme ).

Cygnus is pleased to announce that the Supreme Court of Western Australia ( Court ) has today made orders for the convening of a meeting of Cygnus Shareholders to consider and vote on the Scheme ( Scheme Meeting ) and approving the dispatch of an explanatory statement providing information about the Scheme ( Scheme Booklet ).

The Scheme Booklet is expected to be registered with the Australian Securities and Investments Commission ( ASIC ) today. The Scheme Booklet (including the Independent Expert’s Report) will then be released to ASX and available to view and download at the Company’s website at https://www.cygnusmetals.com/investors and on Cygnus’ ASX market announcements platform at www.asx.com.au

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The Scheme Booklet will be dispatched to eligible Cygnus shareholders on or around 20 August 2026 as follows:

Cygnus shareholders should carefully read and consider the Scheme Booklet in its entirety, including the materials accompanying it, before deciding how to vote at the Scheme Meeting.

If after reading the Scheme Booklet you have any questions about the Scheme Booklet or the Scheme, please contact Cygnus’ Scheme Information Line on 1300 103 401 (within Australia) or +61 2 9066 4063 (outside Australia) between Monday to Friday (excluding public holidays) from 8:30am to 5:00pm (AWST). If you are in any doubt about what action you should take, please consult your broker or financial, taxation, legal or other professional adviser immediately.

Each of the Cygnus directors recommends that Cygnus shareholders vote, and intends to vote any shares they own or control, in favour of the Scheme at the Scheme Meeting, each in the absence of a superior proposal and subject to the independent expert continuing to conclude that the Scheme is in the best interests of Cygnus shareholders.

The Scheme Meeting is scheduled to be held at the offices of Hamilton Locke at Level 39, 152-158 St Georges Terrace, Perth WA 6000 on 18 September 2026 at 2.00pm (AWST). All Cygnus Shareholders registered on the Cygnus Share Register at 5.00pm (AWST) on 16 September 2026 will be entitled to vote at the Scheme Meeting. Further information on how to participate in and vote at the Scheme Meeting will be set out in the Scheme Booklet.