Cornish Metals Obtains Final Order for Plan of Arrangement

VANCOUVER, British Columbia, Dec. 12, 2025 (GLOBE NEWSWIRE) --

Cornish Metals Inc. (AIM/TSXV: CUSN) (“Cornish Metals”, “Cornish Canada” or the “Company”), a mineral exploration and development company focused on advancing its wholly owned and permitted South Crofty tin project in Cornwall, United Kingdom, is pleased to announce that the Company has obtained a final order from the Ontario Superior Court of Justice approving the previously announced re-domicile of the Company to the United Kingdom by way of a statutory plan of arrangement (the “Arrangement”).

As previously disclosed by the Company, the Arrangement will result in the transfer all of the issued and outstanding common shares of the Company (each a “Cornish Canada Share”) to Cornish Metals plc (“Cornish UK”) in exchange for the issue to the Company’s shareholders of new shares in Cornish UK (each a "Cornish UK Share"), on the basis of one (1) Cornish UK Share for ten (10) Cornish Canada Shares, rounded down to the nearest whole number of Cornish UK Shares. In the event that any holder of Cornish Canada Shares holds fewer than ten (10) Cornish Canada Shares, or the number of Cornish Canada Shares held when divided by ten (10) is not a whole number, such allocation will be rounded down to the nearest whole number (or zero, if fewer than ten (10) Cornish Canada Shares are held immediately prior to the of effective date of the Arrangement).

The Arrangement remains subject to the satisfaction of customary closing conditions and is expected to close on or about December 16, 2025. Following completion of the Arrangement, the Cornish Canada Shares are expected to be delisted from the TSX Venture Exchange. An application is also expected to be made for the Company to cease to be a reporting issuer in the applicable jurisdictions upon closing of the Transaction.

Further specific details regarding the Arrangement and the procedure for exchange of Cornish Canada Shares for Cornish UK Shares can be found in the Company’s management information circulated dated October 22, 2025, related to the Meeting (the “Circular”). The Circular and accompanying letter of transmittal (“Letter of Transmittal”) are available under the Company’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at https://cornishmetals.com/investors/shareholder-meetings/.