Compliance Statements

Pontax Maiden Mineral Resource Estimate

In the 12 months since
acquisition of the Pontax Project, Cygnus has completed 11,328m of drilling at
Pontax, culminating in a Maiden JORC Code 2012-Compliant Inferred Mineral
Resource Estimate (“MRE”) of 10.1Mt @ 1.04% Li₂O.

Table 1: Maiden Mineral Resource
Estimate for Pontax Central.

Table 2: Pontax Resource grade
and tonnage reporting above a range of cut-off grades.

COMPLIANCE STATEMENTS

The information in Cygnus Metals’ website that relates to previously reported Exploration Results and Mineral Resources at the Company’s projects have been previously released by Cygnus Metals in ASX Announcements, as noted in the text and below. The information in this website that relates to mineral resources and ore reserves of other entities has been extracted from public announcements and reports as noted below. Cygnus Metals is not aware of any new information or data that materially affects the information in the said announcements, and in the case of estimates of Mineral Resource, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.  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 announcements.

For Mineral Resources at the Company’s Pontax Project, refer to Cygnus Metals’ ASX announcement dated 14 August 2023.

For Exploration Results at the Company’s Pontax Project, refer to Cygnus Metals’ ASX announcements dated 14 August 2023.

For Exploration Results at the Company’s Auclair Project, refer to Cygnus Metals’ ASX announcements dated 25 October 2023.

For Exploration Results at the Company’s Sakami Project, refer to Cygnus Metals’ ASX announcements dated 4 July 2023.

For Exploration Results at the Company’s Australian Projects, refer to Cygnus Metals’ ASX announcements dated 22 September 2023.

For other entities’ mineral resources: James Bay (110.2Mt @ 1.3% Li₂O), refer to Allkem Ltd’s ASX release dated 11 August 2023; Whabouchi (55.7Mt @ 1.4% Li₂O), refer to Nemaska Lithium Inc’s NI 43-101 dated 31 May 2019; Rose (34.2Mt @ 0.9% Li₂O), refer to Critical Elements Lithium Corp’s TSX-V release dated 13 June 2022; Abitibi Lithium Hub (119.1Mt @ 1.1% Li₂O) operated by Sayona Mining Limited/Piedmont Lithium Inc, refer to Sayona Mining Limited’s Annual Report ASX release dated 13 October 2022; Moblan (70.9Mt @ 1.2% Li₂O) operated by Sayona Mining Limited/SOQUEM Inc, refer to Sayona Mining Limited’s ASX presentation dated 17 April 2023; and Corvette (109.2Mt @ 1.4% Li₂O) refer to Patriot Battery Metals’ ASX release dated 31 July 2023. For other entities’ exploration results: refer to Brunswick Exploration Inc.’s TSX-V announcement dated 24 May 2023.

*In relation to the disclosure of visual intersections of pegmatite and spodumene, the Company cautions that visual intersections should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to confirm the widths and grade of visual intersections of pegmatite reported in the preliminary geological logging. The Company will update the market when laboratory analytical results become available.