Nifty PFS Confirms $1,12Cm Pre-Tax NPV and 7C7kt Ore Reserve

Cyprium Metals Limited (ASX: CYM, OTC: CYPMF) is pleased to present the Prefeasibility Study (“PFS”) for the Nifty Copper Complex. The PFS confirms the economic viability of large-scale production of copper in concentrate (“Concentrate Project”) through the refurbishment and expansion of Nifty’s brownfield concentrator and accompanying new surface mine. The PFS also confirms economics of producing copper cathode by re-treating Nifty’s Heap Leach Pads 1-6 (“Initial Cathode Project”) which is a subset of oxide opportunities. This PFS supports the first Ore Reserve Estimate (“ORE”) to be published on the Concentrate Project and Initial Cathode Project (collectively referred to as the “Projects”).

Highlights on a combined basis include:

• $1,129 million pre-tax NPV8 ($756 million after-tax); pre-tax IRR of 28.9% (23.6% after-tax)
• All major permits currently in hand, to be updated using PFS information
• Concentrate Project Ore Reserves of 83Mt at 0.90% Cu for 753Kt contained Cu
• Initial Cathode Project Ore Reserves of 10.6mt at 0.41% Cu for 44Kt contained Cu

“The successful completion of this comprehensive PFS marks a pivotal milestone for Cyprium. This is important, foundational work that we will build on” said Executive Chair Matt Fifield.

“The PFS highlights the long duration and immense profitability of Nifty’s Concentrate Project. With 797,000 tonnes of copper in total reserve supporting more than $3 billion dollars of pre-tax cash flow, Nifty is a large and important copper source and economic engine for Australia,” said Fifield.

“There are few near-term copper development opportunities that present the scale, longevity and positive economics of Nifty’s Concentrate Project, and really none that have the speed and cost advantages of a permitted brownfield site and access to Western Australia’s world-class supply chain,” added Fifield. “The important information in this PFS serves as a strategic foundation for our forward activities as we move towards project execution.”

For a copy of this announcement and a short introductory video please visit Cyprium Metals Investor Hub at https://investorhub.cypriummetals.com/link/drLK0e.

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