Cyprium Metals Ltd: RC Drilling Commenced at Nanadie Well Copper-Gold Project

Perth, Australia - Cyprium Metals Ltd. (ASX:CYM) is pleased to advise that it has commenced a Reverse Circulation drilling programme at the Nanadie Well Copper-Gold Project. This programme continues Cyprium's strategy to drill out the resource at the Nanadie Well Copper-Gold project as detailed in Figure 1*.

HIGHLIGHTS

- The 3,500 metre Phase 1 RC drilling programme has commenced

- RC drilling undertaken to define the extensive supergene mineralisation

- Diamond drilling phase 1 programme, 1,000m of 1,700m completed at Nanadie Well

- Phase 1 diamond drilling programme has recommenced

Executive Director Barry Cahill commented "We are pleased to announce the commencement of a 3,500 metre RC drill programme at the Nanadie Well Copper-Gold Project.

We will eagerly await the results of this programme as it defines the extent of the supergene mineralisation at Nanadie Well. These results will be used to generate a JORC 2012 complaint resource at Nanadie Well.

The New Year also brings the recommencement of the diamond drill programme that was commenced late last year to better define the geology of the Nanadie Well mineralisation. We also see the return of the IP geophysics crew to complete the IP surveys at the Cue Copper-Gold Project that was started in December 2020.

Cyprium has commenced its planned programmes as soon as possible in the 2021 year and we continues to work on expanding our mineral resource base for inclusion in a scoping study."

Cyprium has received the required regulatory Programme of Works ("POW") approval for:

- Diamond drilling programme for geological and metallurgical test work of the mineralisation; and

- RC drilling programme of the supergene portion of the mineralisation.

Cyprium commenced the diamond drilling programme to better define the geology of the mineralisation and to obtain metallurgical samples in December 2020, completing 1,000 metres of the planned 1,700 metres. Following a short break during the Christmas holiday period, the diamond drill rig has recommenced this programme from the beginning of January 2021.

The Company's 3,500 metre Nanadie Well Phase 1 RC drilling programme has been designed to test the supergene mineralisation of the deposit. The planned drill holes are outlined in Figure 2*, with the data from programme and subsequent drill programmes being used to prepare a JORC Code 2012 compliant mineral resource, which is to be released for the Nanadie Well deposit during 2021.

The mineral resource delineated by these programmes will be included in the ongoing Murchison Copper-Gold scoping study. The results from these programmes will be also be used in the planning of follow up drilling programmes which will target along strike extensions as the mineralisation remains open at depth and to the north and south.

Cyprium's geological team have been active on the ground and recently visited the Stark deposit at the Nanadie Well project to mark up the RC drill holes that are targeting the potential for supergene copper above the Nickel-Copper-PGE mineralisation at depth. As demonstrated in Images 1 & 2* (694,070 E, 6,994,065 N 480Mrl (MGA Zone 50)), multiple copper rich gossan samples were taken from oxidised copper samples were taken from surface expressions (also refer to CYM ASX Announcements dated 6 and 15 October 2020). The drilling of these holes will follow the drilling of the supergene mineralisation holes at Nanadie Well.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2X0AINQS

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:

Cyprium Metals Ltd. T: +61 8 6169 3050 WWW: www.cypriummetals.com