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REG - Cornish Metals Inc. - APPOINTMENT TO THE BOARD OF DIRECTORS

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RNS Number : 0125Z  Cornish Metals Inc.  09 January 2024

CORNISH METALS - SAMANTHA HOE-RICHARDSON JOINS THE BOARD OF DIRECTORS

 

Vancouver, January 8, 2024

Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company"), a
mineral exploration and development company focused on advancing the South
Crofty tin project ("South Crofty" or the "Project") located in Cornwall,
United Kingdom, to a production decision, is pleased to announce that Samantha
Hoe-Richardson has joined the Board of Directors as Independent Non-Executive
Director, effective immediately.

Samantha is an experienced non-executive director from a global mining,
infrastructure and insurance background. She is currently a non-executive
director of Kew Soda Ltd, Assured Guaranty UK Ltd, Ascot Underwriting Limited,
3i Infrastructure plc and Independent Group Advisor on Climate Change &
Sustainability to Laing O'Rourke. Samantha was Head of Environment &
Sustainable Development at Network Rail until 2017 and prior to that spent 16
years at Anglo American plc, latterly as Head of Environment. She previously
worked in investment banking and audit. Samantha holds a Masters Degree in
nuclear and electrical engineering from the University of Cambridge, and is
also a qualified Chartered Accountant.

Patrick Anderson, Chair of Cornish Metals, stated: "On behalf of the Board of
Directors, I welcome Samantha to the Cornish Metals team as we embark on
another exciting and critical year on the path to get South Crofty back up and
running. Samantha's experience in both Sustainability / ESG and Finance will
be a great addition to the Board's skill set and we look forward to her
contributions as the Company grows."

The following disclosures are required regarding Samantha Hoe-Richardson's
appointment pursuant to Schedule Two paragraph (g) of the AIM Rules for
Companies (the "AIM Rules").

Samantha Jane Hoe-Richardson

Samantha Jane Hoe-Richardson (aged 52) is currently, or has during the past
five years been, a director of the following companies:

 Current directorships and/or partnerships:  Former directorships and/or partnerships (within the last five years):
 Ascot Underwriting Limited                  Lancashire Insurance Company UK Ltd

 Kew Soda Ltd                                Lancashire Holdings Limited

 Assured Guaranty UK Limited                 Royal School of Needlework (The)

 3i Infrastructure plc                       RSN Enterprises Limited

 Crayfen Limited                             Unum Limited

                                             Unum European Holding Company Limited

Ms Hoe-Richardson does not currently hold any shares in the Company.

ABOUT CORNISH METALS

Cornish Metals is a dual-listed company (AIM and TSX-V: CUSN) focused on
advancing the South Crofty high-grade, underground tin Project through to a
construction decision, as well as exploring its additional mineral rights, all
located in Cornwall, United Kingdom.

·    South Crofty is a historical, high-grade, underground tin mine that
started production in 1592 and continued operating until 1998 following over
400 years of continuous production;

·    The Project possesses Planning Permission for underground mining
(valid to 2071), to construct new processing facilities and all necessary site
infrastructure, and an Environmental Permit to dewater the mine;

·    South Crofty has the 4(th) highest grade tin Mineral Resource
globally and benefits from existing mine infrastructure including multiple
shafts that can be used for future operations;

·    Tin is a Critical Mineral as defined by the UK, USA, and Canadian
governments, with approximately two-thirds of the tin mined today coming from
China, Myanmar and Indonesia;

·    There is no primary tin production in Europe or North America;

·    Tin is an enabler of the energy transition - responsible sourcing of
critical minerals and security of supply are key factors in the energy
transition and technology growth;

·    South Crofty benefits from strong local community and regional and
national government support.

·    Cornish Metals has a growing team of skilled people, local to
Cornwall, and the Project could generate 250 - 300 direct jobs.

An updated Mineral Resource was completed in September 2023 with a 39%
increase in tonnes and 32% increase in contained tin in the Indicated category
for the Lower Mine (see news release dated September 13, 2023
(https://cornishmetals.com/site/assets/files/5612/2023-09-13_mre_final.pdf) )
as summarised below:

 South Crofty Summary (JORC 2012) Mineral Resource Estimate
 Area        Classification  Mass   Grade       Contained Tin /

                             (kt)               Tin Equivalent

                                                (kt)
 Lower Mine  Indicated       2,896  1.50% Sn    43.6
             Inferred        2,626  1.42% Sn    37.4
 Upper Mine  Indicated       260    0.99% SnEq  2.6
             Inferred        465    0.91% SnEq  4.2

 

The Mineral Resource Estimate for South Crofty is available in a report titled
"South Crofty Tin Project - Mineral Resource Update NI 43-101 Technical Report
(https://cornishmetals.com/site/assets/files/5449/south_crofty_tin_project_mineral_resource_update_ni_43-101_technical_report_sedarb.pdf)
", dated October 27, 2023, co-authored by Mr. N. Szebor (MCSM, MSc, BSc,
CGeol, EurGeol, FGS) and Mr. R. Chesher (FAusIMM(CP), RPEQ, MTMS) of AMC
Consultants, and can be accessed through the above link and on the Company's
SEDAR+ page.

TECHNICAL INFORMATION

The technical information in this news release has been compiled by Mr. Owen
Mihalop who has reviewed and takes responsibility for the data and geological
interpretation. Mr. Owen Mihalop (MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng) is
Chief Operating Officer for Cornish Metals Inc. and has sufficient experience
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined under the JORC Code (2012) and as a Qualified
Person under NI 43-101. Mr. Mihalop consents to the inclusion in this
announcement of the matters based on his information in the form and context
in which it appears.

ON BEHALF OF THE BOARD OF DIRECTORS

 

"Richard D. Williams"

Richard D. Williams, P.Geo

 

 

For additional information please contact:

 

 Cornish Metals                                                         Fawzi Hanano       investors@cornishmetals.com (mailto:investors@cornishmetals.com)

                                                                        Irene Dorsman      info@cornishmetals.com (mailto:info@cornishmetals.com)
                                                                                           Tel: +1 (604) 200 6664

 SP Angel Corporate Finance LLP                                         Richard Morrison   Tel: +44 203 470 0470

 (Nominated Adviser & Joint Broker)                                     Charlie Bouverat

                                                                        Grant Barker

 Hannam & Partners                                                      Matthew Hasson     cornish@hannam.partners (mailto:cornish@hannam.partners)

 (Joint Broker)                                                         Andrew Chubb       Tel: +44 207 907 8500

                                                                        Jay Ashfield

 BlytheRay                                                              Tim Blythe         tim.blythe@blytheray.com (mailto:tim.blythe@blytheray.com)

 (Financial PR)                                                         Megan Ray          megan.ray@blytheray.com (mailto:megan.ray@blytheray.com)

                                                                                           Tel: +44 207 138 3204

 

Neither the 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.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended.

Caution regarding forward looking statements

This news release contains "forward-looking statements". Forward-looking
statements, while based on management's best estimates and assumptions at the
time such statements are made, are subject to risks and uncertainties that may
cause actual results to be materially different from those expressed or
implied by such forward-looking statements, including but not limited to:
risks related to receipt of regulatory approvals, risks related to general
economic and market conditions; risks related to the COVID-19 global pandemic
and any variants of COVID-19 which may arise; risks related to the
availability of financing; the timing and content of upcoming work programmes;
actual results of proposed exploration activities; possible variations in
Mineral Resources or grade; outcome of the current Feasibility Study;
projected dates to commence mining operations; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes, title
disputes, claims and limitations on insurance coverage and other risks of the
mining industry; changes in national and local government regulation of mining
operations, tax rules and regulations.

Although Cornish Metals has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Cornish Metals undertakes no obligation or responsibility to
update forward-looking statements, except as required by law.

 

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.   END  BOABIGDBBDGDGSI

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