Cygnus Metals Ltd — Proxy Solicitation & Information Statement 2021

Nov 21, 2021

==> picture [596 x 78] intentionally omitted <==

22 November 2021

Dear Shareholders

Cygnus Gold Ltd - Notice of General Meeting

Notice is hereby given that a General Meeting of the Shareholders of Cygnus Gold Limited (ASX:CY5) (Company) will be held at the offices of the Company at 24 Outram Street, West Perth, Western Australia on Thursday, 23 December 2021 at 12.00 PM (WST) (Meeting).

The Board has made the decision that it will hold a physical Meeting with the appropriate social gathering and physical distancing measures in place to comply with the Federal Government’s and State Government’s current restrictions for physical gatherings.

As permitted by the Corporations Act 2001 (Cth), the Company will not be dispatching physical copies of the Notice of Meeting unless the shareholder has made a valid election to receive documents in hard copy. Instead the Notice of Meeting and accompanying explanatory statement (Meeting Materials) are being made available to shareholders electronically and can be viewed and downloaded on the ASX market announcements platform at www.asx.com.au under the ASX code of CY5.

If you have not elected to receive notices from the Company by email, a copy of your personalised proxy form will be sent to you by mail enclosed with this letter.

Shareholders are encouraged to vote by voting online or by completing a Proxy Form or by returning (where applicable) the enclosed proxy form as per the options below:

Online: At www.investorvote.com.au By mail: Computershare Investor Services Pty Ltd GPO Box 242 Melbourne VIC 3001 By fax: 1800 783 447 (within Australia) +61 3 9473 2555 (outside Australia)

Your proxy voting instruction must be received by 12.00 PM (WST) on Tuesday, 21 December 2021 being not less than 48 hours before the commencement of the Meeting. Any proxy voting instructions received after that time will not be valid for the Meeting.

The situation regarding COVID-19 is constantly evolving and accordingly, the Company may make alternative arrangements to the way in which the Meeting is held. If this occurs, we will notify any changes by way of an announcement on ASX and the details will also be made available on our website.

Cygnus Gold Limited Ground Floor, 24 Outram Street, West Perth WA 6005 GPO Box 2884, West Perth WA 6872 E: info@cygnusgold.com W: www.cygnusgold.com

Accordingly, the Board encourages shareholders to monitor the Company's website for any updates in relation to the Meeting that may need to be provided. In the meantime, the Board encourages shareholders to submit their proxies as early as possible, even if they intend to attend the meeting in person, as the situation may change (e.g. shareholders may be restricted from travelling or there may be restrictions on how the meeting itself may be held or conducted).

The Notice is important and should be read in its entirety. If you are in doubt as to the course of action you should follow, you should consult your financial adviser, lawyer, accountant or other professional adviser.

The Directors of Cygnus appreciate the understanding of Shareholders under the current circumstances.

For and on behalf of the Board.

Michael Naylor Company Secretary

Page | 2