Mr. Richard Williams reports

CORNISH METALS FILES TECHNICAL REPORT FOR THE SOUTH CROFTY TIN PROJECT MINERAL RESOURCE UPDATE ON SEDAR

Cornish Metals Inc. has filed a technical report pursuant to National Instrument 43-101 -- Standards for Disclosure for Mineral Projects for the South Crofty tin project, Cornwall, United Kingdom, under Cornish Metals' profile on SEDAR+. The company's news release dated Sept. 13, 2023, summarizes the mineral resource estimate.

The technical report, titled "South Crofty Tin Project -- Mineral Resource Update NI 43-101 Technical Report," was prepared by AMC Consultants (U.K.) Ltd. on behalf of Cornish Metals and was co-authored by N. Szebor (MCSM, MSc, BSc, CGeol, EurGeol, FGS) and 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' Sept. 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 16th 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 fourth-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 U.K., U.S. and Canadian governments, with approximately 75 per cent 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 to 300 direct jobs.

About Cornish Metals Inc.

Cornish Metals is a dual-listed company focused on advancing the South Crofty high-grade, underground tin project through to delivery of a feasibility study, as well as exploring its additional mineral rights, all located in Cornwall, United Kingdom. Cornish Metals has a growing team of skilled people, local to Cornwall. The former-producing South Crofty tin mine is located beneath the towns of Pool and Camborne, and closed in 1998 following over 400 years of continuous production.

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