Cougar Metals NL (Cougar or the Company) advises that it has served DNI Metals Inc. (DNI) a Notice of Default in relation to the settlement agreement between the two parties dated 24 September 2018. The Company notes that DNI defaulted on the first installment of the settlement, however rectified the default by paying the sum of CAD 250,000 within 30 days of the default. Cougar intends to pursue its rights in respect of the settlement and as such has notified DNI of the default. DNI now have 30 days to rectify the default by paying a further CAD 250,000 by 25 July 2019 or the full remaining settlement amount, being CAD 2,250,000, becomes immediately due and payable.