Cyprium Metals Limited: USD35M Offtake Prepayment Facility for Nifty Restart Project

Perth, Australia - Cyprium Metals Ltd. (ASX:CYM) is pleased to announce that it has signed an exclusive Term Sheet with Transamine SA for USD35 million in respect of a Copper Cathode Offtake Secured Prepayment Facility ("Offtake Prepayment Facility").

This Offtake Prepayment Facility is part of the targeted AUD240 million to AUD260 million debt funding package to finance the restart of the Nifty Copper Project, which is expected to include senior secured financing and secured offtake financing.

The technical, legal, commercial and financial due diligence activities have been completed by Transamine SA, with the focus now turning to completing the offtake and financing documentation for execution, which is being done in conjunction with the prospective secured senior debt providers.

All of the approvals that are required prior to completion of financing have been received, with the final approval for the amendment to the State Agreement required to be submitted post finance.

Key Terms of the Copper Cathode Prepayment Facility

Indicative terms - Offtake

- 100% of Copper Cathode produced during Phase 1 of the Nifty Copper Project Restart, expected to be over 140,000 tonnes

- Offtake pricing of Copper Cathode shipments determined by reference to average market rates

Indicative terms - Prepayment Facility

- Facility amount: USD35 million

- Facility term: 42 months from first production

- Interest rate: Commercial rates of financing charges

Managing Director Barry Cahill commented:

"We are very pleased to renew our association with Transamine SA, by entering into an exclusive Term Sheet for a Copper Cathode Offtake Secured Prepayment Facility. This is part of a fully funded finance package for the restart of the Nifty Copper Project.

The restart project economics remain very robust, and we have continued to make further improvements to the Nifty Copper Project during the financing process.

As all of the required regulatory approvals able to be completed prior to finance have been received, we are looking forward to completing our total funding package so that we can commence executing our Nifty Copper Project restart development plans."

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