Cygnus Metals Appoints Nick Kwong as New CEO, Updates Chibougamau Project Studies
Cygnus Metals Limited has appointed Nick Kwong as the new President and Chief Executive Officer (CEO), effective 12 December 2025. Kwong, a globally experienced Mining Engineer with over 20 years in operations and mine building, succeeds Ernest Mast, who will become a Non-Executive Director. The appointment comes as Cygnus updates the economic studies for its Chibougamau Project, led by independent consultants Wood plc and Entech Pty Ltd.
Kwong's new contract includes 1,500,000 Class B Performance Rights vesting upon conversion of 50% to 60% of Chibougamau's Inferred Mineral Resource Estimate to Indicated (or higher) classification. He has been serving as the Chief Operating Officer (COO) of the Chibougamau Project since 2022, working closely with Mast. Kwong's previous roles include General Manager of two gold mines at Maaden in Saudi Arabia and multiple senior roles within New Gold Inc.
Kwong is leading the update of the 2022 Preliminary Economic Assessment (PEA) in conjunction with independent consultants Ausenco. The update considers the growth and upgrade in mineral resources and improved commodity prices. Upon completion, Cygnus will focus on completing a feasibility study and finalising environmental approvals. The company's dual strategy involves exploration and resource growth led by VP Exploration & Corporate Development Duncan Grieve, and updating the 2022 PEA.
Ernest Mast's appointment as a Non-Executive Director will maintain strong local ties with the community, First Nations, and government authorities. Nick Kwong's extensive experience and leadership in the mining industry make him an excellent choice to lead Cygnus Metals Limited into the future. The company's strategic plans and the appointment of key personnel position it well for growth and success.
