Mr. Fawzi Hanano reports

CORNISH METALS ANNOUNCES UPDATE REGARDING THE LAST DAY OF TRADING ON AIM IN RELATION TO ITS PROPOSED RE-DOMICILE

Cornish Metals Inc. (Cornish Canada) has provided a further update following the receipt of the final order from the Ontario Superior Court of Justice approving the previously announced redomicile of 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 U.K.) in exchange for the issue to the company's shareholders of new shares in Cornish U.K., on the basis of one Cornish U.K. share for 10 Cornish Canada shares, rounded down to the nearest whole number of Cornish U.K. shares. In the event that any holder of Cornish Canada shares holds fewer than 10 Cornish Canada shares or the number of Cornish Canada shares held when divided by 10 is not a whole number, such allocation will be rounded down to the nearest whole number (or zero, if fewer than 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 Dec. 16, 2025.

In order for the company's registrar to facilitate the transfer of all of the Cornish Canada shares to Cornish U.K. and the issue of the new Cornish U.K. shareholders on the effective date in accordance with the requirements of the court order, the company announces that the last time for trading of the Cornish Canada shares on the AIM (Alternative Investment Market) will be 4:30 p.m. London time today on Dec. 15, 2025.

Shareholders of the company should be aware that as previously announced and in accordance with the court order relating to the arrangement, the effective time of transfer of all of the Cornish Canada shares to Cornish U.K. is 8:01 a.m. London time (being 12:01 a.m. Vancouver time on Dec. 16, 2025. At such point, Cornish U.K. will hold the entire issued share capital of the company in accordance with (and to the extent of) the terms of the arrangement. As such, no trading in Cornish Canada shares by Cornish Canada shareholders is possible or would have been possible (notwithstanding this announcement) on Dec. 16, 2025.

Accordingly, bringing forward the last day of trading on the AIM to 4:30 p.m. London time on Dec. 15, 2025, has no practical effect on the ability of any Cornish Canada shareholder to trade their Cornish Canada shares prior to the acquisition of such shares taking place.

Cornish U.K. shall issue the Cornish U.K. shares in accordance with the arrangement on Dec. 16, 2025, with CREST accounts expected to be credited by Dec. 18, 2025.

Updated expected timetable of principal events

The updated timetable of remaining principal events is therefore as follows.

This timetable is indicative only. The actual timetable will depend upon the time at which the conditions precedent to the arrangement, including conditions relating to receipt of regulatory approvals, are satisfied or, if applicable, waived. Any variation to the timetable set out above will be announced by Cornish Canada and published on Cornish Canada's website.

About Cornish Metals Inc.

Cornish Metals is a mineral exploration and development company that is advancing the South Crofty critical mineral project toward production. South Crofty:

• Is a historical underground tin mine located in Cornwall, United Kingdom, and benefits from existing mine infrastructure, including multiple shafts that can be used for future operations;
• Is the highest-grade known tin resource not in production;
• Is permitted to commence underground mining (valid to 2071), construct a new processing facility and for all necessary site infrastructure;
• Would be potentially the first primary producer of tin in Europe or North America; tin is a critical mineral as defined by the U.K., U.S. and Canadian governments as it is used in almost all electronic devices and electrical infrastructure; approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia;
• Benefits from strong local community and regional and national government support with a growing team of skilled people, local to Cornwall, and could generate over 300 direct jobs.

We seek Safe Harbor.