Central Asia Metals PLC (AIM, TSX: CAML) has announced that Chief Executive Officer Gavin Ferrar will formally open trading on the Toronto Stock Exchange on 13 November 2026, marking the company's recent dual listing following its acquisition of Cygnus Metals Ltd. Alongside the TSX ceremony, CAML has outlined a detailed exploration strategy for the newly acquired Chibougamau copper-gold project in Québec, including a drilling programme of up to 70,000 metres through to end-2027. The update provides investors with their first comprehensive look at CAML's operational plans for its Canadian asset, which adds a significant growth dimension to its existing producing mines in Kazakhstan and North Macedonia.

Key Points

  • Central Asia Metals PLC (AIM, TSX: CAML) owns 100% of the Chibougamau copper-gold project in Québec, 100% of the Kounrad copper operation in Kazakhstan, and 100% of the Sasa zinc-lead mine in North Macedonia
  • CEO Gavin Ferrar will open the Toronto Stock Exchange on 13 November 2026 to mark CAML's TSX listing, completed on 27 October 2026 alongside the Cygnus Metals acquisition
  • Three drilling rigs secured for Chibougamau; a fourth joins in Q2 2027 for geotechnical and metallurgical work; total programme up to 70,000 metres; updated Mineral Resource Estimate targeted for Q3 2027; PEA expected mid-2027
  • Investors should watch for exploration drilling results from Corner Bay, Golden Eye, Cedar Bay and Devlin deposits, and the upcoming Preliminary Economic Assessment led by Ausenco

CAML's TSX Listing Opens Canadian Market Access Following Cygnus Acquisition

The TSX listing, completed on 27 October 2026 in conjunction with CAML's acquisition of Cygnus Metals Ltd, is designed to give North American investors, including former Cygnus shareholders, enhanced access to trading in CAML shares. The bell-opening ceremony in Toronto on 13 November 2026 formalises CAML's presence on the Canadian exchange and signals the company's intent to build a meaningful profile among North American institutional and retail investors. CAML already trades on London's AIM market and is headquartered in London, with producing assets across Kazakhstan, North Macedonia, and now Québec.

Three Drilling Rigs Secured for Chibougamau's Corner Bay, Golden Eye and Cedar Bay Deposits

CAML's senior management completed a week-long technical workshop at Chibougamau immediately prior to the TSX announcement, working with the project team and key consultants to prioritise the forthcoming work programme. Three drilling rigs have been secured: one is already on site, with two further rigs arriving before the end of November 2026 to enable year-round drilling through the construction of ice pads over the winter period. Exploration drilling in H1 2027 will target the Corner Bay, Golden Eye and Cedar Bay deposits, shifting to infill drilling for resource upgrading at those deposits, plus Devlin, in H2 2027. A fourth rig joins in Q2 2027 for geotechnical and metallurgical test work to support a future Definitive Feasibility Study.

Previous Chibougamau MRE Totals 14.9 Million Tonnes Across Measured, Indicated and Inferred Categories

The previous Mineral Resource Estimate, published by Cygnus in late 2025, comprised 6.4 million tonnes Measured and Indicated at 2.3% copper, 0.8 g/t gold and 7.6 g/t silver, alongside 8.5 million tonnes Inferred at 2.1% copper, 1.7 g/t gold and 7.9 g/t silver. An updated MRE incorporating results from the current drilling campaign is scheduled for completion in Q3 2027. CAML has also retained international engineering consultancy Ausenco to lead a Preliminary Economic Assessment featuring an expanded scope, expected to be completed in mid-2027, which will be based on the current MRE.

Environmental Baseline Work and Brownfield Copper Rand Rehabilitation Advance Permitting Progress

Beyond drilling, CAML plans an electromagnetic geophysical survey over frozen lakes within its licence area during winter, while baseline environmental studies and preparatory work for the project's environmental and social impact assessment will continue to advance permitting. Site clearance and restoration work is also planned at the brownfield Copper Rand site in readiness for future rehabilitation and modernisation. The Chibougamau project additionally includes the Gwillim deposit, where Cygnus reported significant gold intersections in August 2026, and the historically producing Joe Mann deposit, both earmarked for prioritised exploration as the programme develops.