Cornish Metals Installs Second Submersible Pump, Commences Commissioning of Variable Speed Drives for the Pumps and Signs 100% Renewable Power Contract

VANCOUVER, British Columbia, July 19, 2023 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (TSX-V/AIM: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on its South Crofty tin project in Cornwall, United Kingdom, is pleased to announce that the second submersible pump has now been installed, commissioning of the Variable Speed Drives (“VSDs”) to operate the pumps has commenced, and that the Company has entered into a contract for the supply of 100% renewably generated power for the next 15 months.

Richard Williams, CEO and Director, stated “These are all significant milestones for the project as we advance South Crofty towards a production decision. The team at site has done an excellent job installing the second pump ahead of the estimated timeframe. Also, securing a 100% renewable power contract was important as we demonstrate our commitment to the reduction of greenhouse gases from the project as much as possible.”

Submersible Pump Installation and VSD Commissioning

The second submersible pump has been suspended in New Cooks Kitchen (“NCK”) shaft:

• This pump is the second of two submersible pumps to be installed in NCK shaft for Stage 1 of the two-stage mine dewatering programme;
• The pumps are specialist high-head 950 kW vertical submersible pumps manufactured by KSB in Germany, controlled by variable speed drives manufactured by Schneider Electric and supplied through Siemag Tecberg UK, to enable the 25,000 cubic metres (m³) per day pumping rate to the Mine Water Treatment Plant (“MWTP”) to be maintained as the water level drops and the pumping head increases;
• The pumps are located immediately below the 195 fathom level (360 metres below surface);
• Schneider and Siemag Tecberg are now on site commissioning the VSDs in advance of commissioning the MWTP;
• The VSD commissioning is expected to take two weeks to complete;
• Commissioning of the MWTP is scheduled to commence in August, with dewatering of the mine expected to commence before the end of summer.

100% Renewable Power Contract

The Company has entered into a 15 month supply contract with NPower for the provision of 100% renewably generated power. The supply contract allows the Company to advance through the mine dewatering phase with certainty over the power costs for the next 15 months, an important factor given the power price volatility over the last eighteen months.