CYG Cygnus Metals Limited

CYGAM Energy Inc. ("CYGAM") (TSX VENTURE:CYG) is pleased to provide an
operational update regarding the TT Field in the Bir Ben Tartar Production
Concession (the "BBT Concession") in Tunisia. Through a wholly-owned subsidiary,
CYGAM holds a 14% working interest in the Concession. Partners in the concession
are block holder, Enterprise Tunisienne D'Activites de Petrolieres ("ETAP") and
Chinook Energy (86% interest and operator).


BBT Concession Production Update

Gross production from the TT Field averaged 2,602 bopd (228 bopd net to CYGAM
and post ETAP) during May 2013. Average gross production during the first ten
days of June was 2,890 bopd (253 bopd net to CYGAM and post ETAP) reflecting
full contributions from the latest wells drilled in the field.


Water injection into the main reservoir using the TT12 well commenced in April
2014. Re-injecting produced water is anticipated to reduce operating costs as
well as provide critical reservoir pressure support ultimately increasing the
recovery factor of the pool.


Work continues on installing an Early Production Facility and Gathering System
which will result in existing wells being flow line connected to a central tank
battery and process facility. It is expected that this substantial
infrastructure upgrade will be completed during 2014.


2014 BBT Drilling Program

The planned six well program has been completed with results as follows. No
further drilling is currently planned during 2014.


TT15 Deviated well

TT15 was spud on December 21, 2013 and drilled to a total depth of 1,510 metres
after being directionally drilled to a bottom hole location approximately 200
metres to the southwest of the surface location. The well was fracked in
February 2014 and averaged 379 bopd over the first 30 days of production post
frac. Average gross production during May, 2014 was 279 bopd with 0% water cut.


TT28 Vertical Well

TT28 was spud on January 14, 2014 and drilled to a total depth of 1,420 metres.
The well was fracked in February 2014 and averaged 63 bopd over the first 21
days of production before experiencing liquid loading issues. A velocity string
and jet pump were installed in April. Average gross production during May, 2014
was 47 bopd with 12% water cut.


TT18 Vertical Well

TT18 was spud on February 11, 2014 and drilled to a total depth of 1,482 metres.
The well was fracked in March 2014 and averaged 272 bopd over the first 30 days
of production. A velocity string and jet pump were installed in April, 2014.
Average gross production during May, 2014 was 232 bopd with 6% water cut.


TT19 Vertical Well

TT19 was spud on March 10, 2014 and drilled to a total depth of 1,486 metres.
The well was fracked in April 2014 and averaged 186 bopd over the first 30 days
of production. Average gross production during May, 2014 was 146 bopd with 4%
water cut.


TT29 Vertical Well

TT29 was spud on April 1, 2014 and drilled to a total depth of 1,485 metres. As
a consequence of a poor cement bond, the well produced 100% water from a
shallower zone and following a successful remediation attempt was left in a
suspended state for possible use as a future water source well or, pending
further investigation, to be completed as a producing well.


TT14 Vertical Well

TT14 was spud on April 20, 2014 and drilled to a total depth of 1,504 metres.
The well was fracked in May 2014 and averaged 441 bopd over the first 21 days of
production. Average gross production during the first 10 days of June, 2014 was
512 bopd with 1% water cut.


Cygam's President and CEO Dave Taylor stated: "Cygam is encouraged by the latest
development drilling results. The new wells have increased our understanding of
the field and demonstrated there are areas, around TT-14 for example, where
production results have exceeded expectations and created new opportunities for
exploitation".


About CYGAM Energy Inc.

CYGAM is a Calgary based exploration company with extensive international
exploration permits and a producing property in Tunisia. The main focus of CYGAM
is the acquisition, exploration and development of international oil and gas
permits, primarily in Italy and Tunisia. CYGAM currently holds various interests
in five exploratory permits in Italy plus two exploratory permits and the BBT
Production Concession in Tunisia which together encompass a total of
approximately 1.4 million gross acres.


An updated corporate presentation is available on the company's website
(www.cygamenergy.com)


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


Forward Looking Information

In the interest of providing shareholders and potential investors with
information regarding CYGAM, including management's assessment of the future
plans and operations of CYGAM, certain statements contained in this news release
constitute forward-looking statements or information (collectively
"forward-looking statements") within the meaning of applicable securities
legislation. In particular, this news release contains, without limitation,
forward-looking statements pertaining to: future drilling; water injection
plans; and other future operations and the timing thereof.


With respect to the forward-looking statements contained in this news release,
CYGAM has made assumptions regarding, among other things: the ability of the
Operator to continue to operate in Tunisia with limited logistical, security and
operational issues; the ability of the Operator to obtain equipment in a timely
manner and to carry out drilling and completion operations; the results of
geological, geophysical and reservoir analysis and testing and completion
operations; commodity prices; the receipt of required regulatory approvals;
global economic conditions. Although CYGAM believes that the expectations
reflected in the forward-looking statements contained in this news release, and
the assumptions on which such forward-looking statements are made, are
reasonable, there can be no assurance that such expectations will prove to be
correct. Readers are cautioned not to place undue reliance on forward-looking
statements included in this news release, as there can be no assurance that the
plans, intentions or expectations upon which the forward-looking statements are
based will occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties that contribute to the
possibility that the forward-looking statements will not occur, which may cause
CYGAM's actual performance and financial results in future periods to differ
materially from any estimates or projections of future performance or results
expressed or implied by such forward-looking statements. These risks and
uncertainties include, without limitation: political and security risks
associated with the Operator's Tunisian operations, risks associated with oil
and gas exploration, development, exploitation, production, marketing and
transportation, loss of markets,

volatility of commodity prices, currency fluctuations, imprecision of reserve
and resource estimates, inability to retain drilling rigs and other services,
capital expenditure costs, including drilling, completion and facilities costs,
unexpected decline rates in wells, delays in projects and/or operations, wells
not performing as expected, delays resulting from or inability to obtain the
required regulatory approvals, CYGAM's ability to access sufficient capital from
internal and external sources; and risks associated with the operation of
CYGAM's assets by third parties, including the limited ability of CYGAM to
exercise influence over the operation of those assets or their associated costs,
the timing and amount of capital expenditures, the operator's expertise and
financial resources, the approval of other participants, and the selection of
technology and risk management practices. As a consequence, actual results may
differ materially from those anticipated in the forward-looking statements.
Readers are cautioned that the forgoing list of factors is not exhaustive.
Additional information on these and other factors that could effect CYGAM's
operations and financial results are included in reports on file with Canadian
securities regulatory authorities and may be accessed through the SEDAR website
(www.sedar.com). Furthermore, the forward-looking statements contained in this
news release are made as at the date of this news release and CYGAM does not
undertake any obligation to update publicly or to revise any of the
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
David Taylor
President and Chief Executive Officer
CYGAM Energy Inc
403 605 5117
david.taylor@cygamenergy.com


Al Robertson
Chief Financial Officer
CYGAM Energy Inc
403 452 6883
al.robertson@cygamenergy.com

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