Cyprium Metals Ltd: Encouraging RC Drilling Results at the Cue Project

Perth, Australia - Cyprium Metals Ltd. (ASX:CYM) is pleased to report assay results from the April/May 2022 Reverse Circulation ("RC") drilling campaign which was completed at the Cue Copper Project as outlined in Figure 1*.

HIGHLIGHTS

- RC drilling of targets at Cyprium's Cue Project has returned anomalous results at 5 of 7 targets tested

- RC drilling is targeted at discovering syngenetic-structural base metal deposits

- RC drilling on E20/630, under the northern half of an extensive soil anomaly returned elevated copper and gold values from 3 of the 4 drillholes the first completed under this untested soil anomaly

- RC drilling at Mt Eelya under outcropping gossan intersected anomalous levels of copper, zinc and gold

Significant results include:

- 44m @ 1,167 ppm Cu & 3,525 ppm Zn from 0m in 22CURC004 including:
o 4m @ 5,020 ppm Cu, 8,720 ppm Zn & 0.12 g/t Au from 8m
o 4m @ 3,800 ppm Cu, 2,030 ppm Zn & 0.39 g/t Au from 40m

- 4m @ 6,850 ppm Zn from 24m in 22CURC005
- 4m @ 5,385 ppm Zn from 68m in 22CURC005
- 12m @ 1,380 ppm Ni & 139 ppm Co from 80m in 22CURC013
- 8m @ 1,435 ppm Ni from 68m in 22CURC014
- 16m @ 1,160 ppm Ni & 102 ppm Co from 52m in 22CURC015
- 12m @ 1,937 ppm Cu & 0.12 g/t Au from 72m in 22CURC022
- 8m @ 2,315 ppm Cu & 0.11 g/t Au from 56m in 22CURC024
- 16m @ 2,969 ppm Cu from 88m in 22CURC025
o 4m @ 7,220 ppm Cu & 0.13 g/t Au from 88m

- 20m @ 2,010 ppm Cu from 100m to EOH in 22CURC026
o 4m @ 3,750 ppm Cu & 0.15 g/t Au from 116m to EOH

Managing Director Barry Cahill commented:

"Cyprium continues to work through the back log of information on its development projects while it focusses on the finance process for the restart of the Nifty Copper Project. The Cue results are another part of building the business that we have.

Our ambition to be a mid-sized copper producer depends on identifying and developing projects for Cyprium's future production projects and these results clearly indicate the potential of Cue to meet our development criteria.

Cyprium's portfolio is once again demonstrating its quality. Nifty in finance, approved ready to go, Murchison's and Maroochydore's potential both growing steadily in a bullish copper environment."

The Cue tenements cover 180 square kilometres of volcano-sedimentary and intrusive rocks prospective for syngenetic-structural base metal deposits comprised of disseminated, stringer, semi-massive and massive sulphides - dominantly pyrite/pyrrhotite with associated chalcopyrite/chalcocite and minor bornite/sphalerite. Weathering of primary sulphides has resulted in oxide mineralisation at Hollandaire with development of oxide and supergene material noted but not fully defined at the Eelya South and Mount Eelya deposits.

Historic exploration in the area has predominately focussed on gold. The Hollandaire copper/gold deposit (Indicated and Inferred Resources of 2.78Mt @ 1.90% Cu & 0.32g/t Au) was discovered in 2011 and led to an exploration focus on base metal systems. Substantial datasets have been generated by previous owners of the tenements; Cyprium geologists are continuing to review and evaluate the historic and Cyprium generated data to identify potential base metal targets in the Cue Copper Project.

At Mt Eelya, 8 drillholes for 1,200m tested targets proximal to mineralisation intersected in historic drilling, airborne EM geophysical survey anomalies and outcropping gossans. Four drillholes returned elevated Cu or Zn values with associated anomalous Au in 22CURC004 as detailed in Figure 3*.

Analytical samples for all Cue drillholes were collected as 4m scoop split composites. CYM geologists will select and submit for assay 1m splits through mineralised intervals to gain a full understanding of grade distribution and to assist in the design of follow up drill programmes. Work is being planned to further investigate the potential of these encouraging anomalous results.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/RU8IIDAJ

About Cyprium Metals Ltd:

Cyprium Metals Ltd. (ASX:CYM) is poised to grow to a mid-tier mining business and manage a portfolio of Australian copper projects to deliver vital natural resources, strong shareholder returns and sustainable value for our stakeholders. We pursue this aim, in genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which is based on integrity, co-operation, transparency and mutual value creation.

Source:
Cyprium Metals Ltd.

Contact:

Barry Cahill Executive Director T: +61 8 6374 1550 Wayne Apted Chief Financial Officer and Company Secretary Lexi OHalloran Investor and Media Relations E: lexi@janemorganmanagement.com.au T: +61 404 577 076 E: info@cypriummetals.com