Cornish Metals Files Technical Report for the South Crofty Tin Project Mineral Resource Update on SEDAR

VANCOUVER, British Columbia, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (AIM/TSX-V: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on its South Crofty Tin Project (“South Crofty” or the “Project”) in Cornwall, United Kingdom, is pleased to report that it has filed a technical report pursuant to National Instrument 43-101 – Standards for Disclosure for Mineral Projects (“NI 43-101”) for the South Crofty Tin Project, Cornwall, United Kingdom under Cornish Metals’ profile on Sedar (www.sedar.com). The Company’s news release dated September 13, 2023 summarises the mineral resource estimate.

The technical report, titled “South Crofty Tin Project - Mineral Resource Update NI 43-101 Technical Report” (the “Technical Report”) was prepared by AMC Consultants (UK) Limited on behalf of Cornish Metals and was co-authored by Mr. N. Szebor (MCSM, MSc, BSc, CGeol, EurGeol, FGS) and Mr. R. Chesher (FAusIMM(CP), RPEQ, MTMS). All of the co-authors of the Technical Report are independent of Cornish Metals, meet the definition of a “Qualified Person” under NI 43-101 and have consented to the disclosure in Cornish Metals’ September 13, 2023 news release which describes the updated mineral resource estimate for the South Crofty Tin Project.

Background

• South Crofty is a historical, high-grade, underground tin mine that started production in the sixteenth century, and continued operating until 1998;
• The Project possesses Planning Permission for underground mining, valid to 2071, Planning Permission to construct a mine water treatment plant, new processing facilities, 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 the presence of 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 75% of the tin mined today coming from China, Myanmar and Indonesia;
• There is no primary tin production in Europe or North America;
• 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. The Project could generate 250 – 300 direct jobs.