Cygnus Gold : Presentation - Cygnus to acquire high-grade lithium project

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A NEW DAWN

A c quisiti o n of Pontax Lithium Project

J U L Y 2 O 2 2

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Cautionary Statements

This presentation contains summary information about Cygnus Gold Limited ("Cygnus" or "the Company"). The information in this presentation is of general background and does not purport to be complete.

Forward-looking statements

This presentation may contain certain forward looking statements and projections regarding estimated, resources and reserves; planned production and operating costs profiles; planned capital requirements; and planned strategies and corporate objectives. Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of Cygnus Gold Limited. The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved.

Cygnus Gold Limited does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking statements/projects based on new information, future events or otherwise except to the extent required by applicable laws. While the information contained in this report has been prepared in good faith, neither Cygnus Gold Limited or any of its directors, officers, agents, employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Accordingly, to the maximum extent permitted by law, none of Cygnus Gold Limited, its directors, employees or agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions contained in this presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this presentation.

Not an offer

This presentation is for information purposes only. The presentation does not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with ASIC) or any other law. This presentation also does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any Securities nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to Securities.

Competent person's statement

The information in this presentation that relates to Exploration Results is based on information and supporting documentation compiled by Mr Duncan Grieve, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Grieve is an employee of Cygnus Gold and holds shares in the Company. Mr Grieve has sufficient experience relevant to the style of mineralisation under consideration and to the activity which he is undertaking 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 Grieve consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

Previous Exploration Results

The information in this presentation that relates to Exploration Results relating to the Pontax Lithium Project has been previously released in ASX Announcement date 29 July 2022. Cygnus Gold is not aware of any new information or data that materially effects the information in the said announcements.

The information in this presentation that relates to Exploration Results relating to the Bencubbin Lithium Project has been previously released in ASX Announcement date 30 May 2022. Cygnus Gold is not aware of any new information or data that materially effects the information in the said announcements.

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Introduction

The Pontax Lithium Project is in One of Canada's Most Prolific Mining Districts

Tier One location in mining	Surrounded by world class	Significant high grade	Poised for rapid
friendly jurisdiction	lithium projects	shallow intercepts with	growth with multiple
		limited follow up	high priority walk-up
			targets ready to drill

Fully funded. Commitments	Excellent Infrastructure	Low risk, earn-in
received for $4.2M capital	and sealed road access	acquisition via
raise to kickstart immediate	within 22km of the project	value-adding stages
exploration.	and access to Quebec's
	hydro power network

Highly experienced team

with a track record of significant discoveries

Investor Presentation	3	3

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The Pontax Lithium Project - World Class Lithium District in Quebec, Canada

Tier 1 Jurisdiction with Large, High Grade Lithium Projects

• Cygnus earning into Pontax Lithium Project within prolific lithium province
• Located in a district of major lithium projects including1
• • Abitibi Lithium Hub (119.1Mt @ 1.1% Li2O)
  • James Bay (40.3Mt @ 1.4% Li2O)
  • Whabouchi (55.7Mt @ 1.4% Li2O)
  • Rose (34.2Mt @ 0.9% Li2O)
  • Moblan (16.1Mt @ 1.4% Li2O)
• Pontax is high grade and totally underexplored
• First pass drilling intercepted high-grade lithium spodumene including:
• • 9.0m @ 1.7% Li2O from 46.9m
  • 15.6m @ 1.6% Li2O from 83.9m
  • 4.8m @ 2.6% Li2O from 19.4m
  • 13.0m @ 1.4% Li2O from 36m
• Metallurgical test work generated 6% spodumene concentrate using conventional processing techniques with potential tantalum biproduct with grades of up to 549ppm Ta2O5 in drilling1
• 10,000m̴̴ drill program to commence in Q4

Abitibi Lithium Hub (119.1Mt @ 1.1% Li2O iv) operated by Sayona Mining Limited/Piedmont Lithium Inc (Refer to Sayona Mining's ASX Presentation dated 27 May 2022). James Bay (40.3Mt @ 1.4% Li2O iv) operated by Allkem Ltd (Refer to Allkem's ASX Announcement dated 21 December 2021), Whabouchi (55.7Mt @ 1.4% Li2O ii) operated by Nemaska Lithium Inc (Refer to Nemaska Lithium NI 43-101 dated 31 May 2019), Rose (34.2Mt @ 0.9% Li2O iv)

operated by Critical Elements Lithium Corp (Refer to Critical Elements' TSX-V Announcement dated 13 June 2022), Moblan (16.1Mt @ 1.4% Li2O iv) operated by Sayona Mining/SOQUEM Inc (Refer to Sayona Mining's ASX4 Presentation dated 27 May 2022). Cygnus Gold is not aware of any new information or data that materially effects the information in the said announcements.

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Quebec, Canada

Tier 1 Mining Jurisdiction

Quebec is emerging as a lithium powerhouse, holding the largest lithium reserves in Canada and nearly half of the country's lithium projects underway.

Consistently ranked in the top quartile by the Fraser Institute for most attractive jurisdictions for mining investment

Québec is Canada's largest producer of iron concentrate and zinc, the country's second-largest producer of gold, is the dominant source of lithium in Canada, and accounts for 20% of Canada's total mining output

Significant investment from Quebec government with 'Québec's "Plan Nord" economic development strategy which offers tax incentives for mining companies to invest and explore the province's vast northern mineral wealth

Quebec is strategically well-positioned regarding the critical transitioning energy and e-mobility markets in Europe and the United States and boasts excellent infrastructure including low cost and low carbon electricity

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