Updated Nifty Copper Mineral Resource Estimate

Cyprium Metals Limited (ASX: CYM) (“Cyprium” or the “Company”) is pleased to announce the Company’s maiden Mineral Resource estimate (MRE) for the Nifty copper deposit following the completion of the acquisition of the Paterson Copper Project in March 2021. Cyprium’s previously disclosed estimate for Nifty was based on a review of the estimate disclosed by the former owner of the project at 31 December 2019.

HIGHLIGHTS

• Updated Mineral Resource estimate (MRE) completed for the heap leachable and deeper primary sulphide mineralisation contained within the Nifty copperdeposit.
• Heap leachable Measured, Indicated and Inferred Resource significantly increased to 11.9Mt at 1.1% Cu for ~135,000t of contained copper metal delivering a substantial near surface copper inventory available for the Heap Leach RestartStudy.
• The total Measured, Indicated and Inferred Resource at Nifty has increased by ~97,000t (15%)ofcontainedmetalto45.9Mtat1.6%Cufor~732,000ttotalcontainedcoppermetal.
• Recent RC drilling results indicates excellent potential to further grow theresource.¹
• Nifty’s position within the top 20 of Australian copper depositsconfirmed.

Managing Director Barry Cahill commented:

“Our maiden Mineral Resource estimate for the Nifty copper deposit is the culmination of many months of geological rigor undertaken by our geological team, assisted by experienced external consultants. It is the first model for the deposit that combines both the remnant heap leachable and primary sulphide mineralised domains into a single contiguous estimate.

ThisnewMREnotonlyconfirmsNiftyasatoptiercopperdepositbutalsounderpinsthedevelopment options currently being assessed as part of the Nifty Heap Leach Restart Study, which is on track for delivery during December. The significant increase in the heap leachable component of the deposit also affirms our view that Nifty has a considerable scope to become a long-term producer of SX-EW coppercathode.”

Read the full ASX release here.

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