Conditional Approval of TSX listing

Central Asia Metals PLC (AIM: CAML) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the 'TSX') for the listing of shares in CAML on the TSX, including the new shares that will be issued to the shareholders in Cygnus Metals Limited (ASX:CY5, TSXV: CYG, OTCQB: CYGGF) ('Cygnus') in exchange for their fully paid ordinary shares in Cygnus, pursuant to the terms of the previously announced Scheme of Arrangement between Cygnus and CAML should the conditions to that transaction be satisfied and the transaction be successfully implemented (the 'Cygnus Transaction').

The shares will trade on the TSX under the trading symbol 'CAML'. Final approval of the listing is subject to certain customary conditions of the TSX, including the successful completion of the Cygnus Transaction.

Gavin Ferrar, Chief Executive Officer of CAML, commented:

"Although not a condition precedent to the Cygnus Transaction, this approval represents an important step towards realising our strategy to maximise the value from the acquisition of Cygnus and its flagship Chibougamau project in Québec. As our recent Interim Results for the six months to 30 June 2026 showed, CAML is a robust, highly cash-generative business, with significant technical capabilities. We believe the acquisition of Cygnus will create a compelling combination of profitable production, development potential and exploration upside, to the benefit of both sets of shareholders.

"The addition of a TSX listing will not only allow Cygnus shareholders to trade the CAML shares they are expected to receive in the Cygnus Transaction on the TSX, but will also serve to broaden CAML's investor base in North America more generally. Toronto is one of the world's premier centres for mining equities, with a deep understanding of the sector, and we regard a TSX listing as highly complementary to our prospective ownership of a significant mining project in Canada."