Court approval for the Cygnus Transaction.

14 October 2026

Central Asia Metals PLC

(the ‘Company’ or ‘CAML’)

Court approval for the Cygnus Transaction

Central Asia Metals PLC (AIM: CAML) is pleased to announce that it has been informed by Cygnus Metals Limited (ASX:CY5, TSXV: CYG, OTCQB: CYGGF) (‘Cygnus’) that the Australian Scheme of Arrangement (the ‘Scheme’) as announced on 2 June 2026 (the ‘Cygnus Transaction’) has been approved by the Supreme Court of Western Australia (the ‘Court’). Under the Scheme, CAML will acquire 100% of Cygnus in an all-share transaction.

Cygnus has further informed CAML that it intends to lodge an office copy of the Court’s orders with the Australian Securities and Investments Commission on 15 October 2026, at which date the Scheme will become effective. Subject to the Scheme becoming effective, shareholders in Cygnus will receive the Scheme Consideration to which they are entitled on the Implementation Date of 27 October 2026.

Gavin Ferrar, Chief Executive Officer of CAML, commented:

“We are delighted to reach this important milestone in the Cygnus Transaction, which marks the final hurdle before we add Cygnus’ Chibougamau copper-gold project in Québec to our portfolio. CAML will thus represent a compelling combination of profitable production, development potential and exploration upside, with its shares trading on both the AIM market of the London Stock Exchange and the Toronto Stock Exchange.

“The CAML team is excited to begin work on the Chibougamau project, building on the foundations created by Cygnus, and to further developing the important relationships with key stakeholders, including the Oujé-Bougoumou Cree Nation, the City of Chibougamau and the Government of Québec. We also look forward to welcoming Cygnus shareholders as new shareholders in CAML in the coming weeks.”

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Note to editors:

Central Asia Metals, an AIM-quoted UK company based in London, owns 100% of the Kounrad SX-EW copper operation in central Kazakhstan and 100% of the Sasa zinc-lead mine in North Macedonia. The Company also owns an 80% interest in CAML Exploration and 100% in CAML XD, two subsidiaries formed to progress early-stage exploration opportunities in Kazakhstan, and a 38.9% interest in Aberdeen Minerals Ltd, a privately-owned UK company focused on the exploration and development of base metals opportunities in northeast Scotland.

For further information, please visit www.centralasiametals.com and follow CAML on X at @CamlMetals and on LinkedIn at Central Asia Metals Plc