Cyprium Metals Ltd: Maroochydore Cu Co Project Initial RC Drilling Results

Perth, Australia - Cyprium Metals Ltd. (ASX:CYM) is pleased to report the results of the first round of assays that have been received from the 2021 Reverse Circulation ("RC") drilling campaign at the Maroochydore Copper - Cobalt Project.

- Drilling further extends massive Maroochydore copper - cobalt resource potential

- Near-surface oxide copper/cobalt mineralisation extended to 3000m long, up to 500m wide and up to 100m thick

- Sulphide copper - cobalt mineralisation 2,500m long (still open), up to 500m wide and up to 50m deep (still open)

Managing Director Barry Cahill commented:

"When I was at Maroochydore last year, I was absolutely blown away by the physical footprint of this shallow copper cobalt deposit, which is more than 3 kilometres in length and still open.

Maroochydore is a very exciting project and we are pleased to announce the results of our first round of RC drilling. These results reinforce the quality of this large copper-cobalt deposit. In addition, this drilling has increased the oxide-supergene resource potential further to the east.

The presence of fresh sulphide mineralisation at the base of hole 21MDRC018 is highly encouraging and demonstrates potential to expand the sulphide resource further along strike.

We look forward to the next round of assay results, targeting areas northwest along strike."

The 50 RC drillhole programme included 46 resource definition and extension holes (5,990m) and 4 water bores (228m) for a total of 6,218 metres as detailed in Figure 2*, Images 1 to 8* and Table 1*. To date, the results from 19 holes have been received by the Company as detailed in Appendix 1*. These RC drill holes targeted oxide, supergene and transitional mineralisation at the project with several holes extending into fresh basement rock. Sulphide mineralisation was intersected from 108m down hole in 21MDRC018 (refer to Image 7*).

The oxide mineralisation currently extends over a strike length of 3,000m, has a width of up to 500m and thicknesses up to 100m, as modelled in the existing JORC 2012 mineral resource estimate. The resource shapes are outlined in figure 1 and sections 1 & 2*.

Once all the RC assay results are received, they will be included in a revised mineral resource estimate of the Maroochydore copper - cobalt deposit. Hole collar and Survey details are summarised in Table 1*. All significant interval assays are summarised in Appendix 1*.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/9GJJO617

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 O'Halloran Investor and Media Relations E: lexi@janemorganmanagement.com.au T: +61 404 577 076 E: info@cypriummetals.com