Change In Executive Management
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Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company"), announces today the departure of Chief Executive Officer ("CEO"), Richard Williams, effective on March 31, 2024, when he will also leave the Company's Board. Mr. Williams will remain available to the Company on a consulting basis going forward. Ken Armstrong, Non-Executive Director will step in as Interim CEO and Patrick Anderson, Chairman of the Board, will become the Executive Chairman of the Company during the transition and search for a permanent CEO to lead the Company through the next stage of development of South Crofty as the Company moves towards construction.
"On behalf of the Board of Directors I want to thank Richard for the many achievements he made and obstacles overcome to bring the Company and the South Crofty Tin Project to where it is today. Richard was instrumental in acquiring the Project from administration in 2016, the Company's dual listing on AIM in 2021 and securing the Company's cornerstone investment from Vision Blue Resources in 2022. We wish him all the best in his future endeavours", said Patrick Anderson, Chairman of the Board of Directors.
Ken Armstrong, incoming Interim CEO, stated "Along with the Cornish Metals' Board and major shareholders, I look forward to supporting the team at South Crofty as they continue advancing the South Crofty Project to a construction decision. In the short term, we will remain focused on delivery of a Preliminary Economic Assessment of the Project in Q2 2024 and continued mine dewatering through, and safe refurbishment of, the New Cooks Kitchen shaft."
Ken Armstrong is the current Chairman of the Company's Audit Committee and was CEO of the Company's predecessor, Strongbow Exploration, through to 2015. Mr. Armstrong is a Professional Geologist (ON, NWT & NU) with over 25 years' experience in the mineral exploration and mining industry, is currently President and CEO of North Arrow Minerals Inc. (TSX-V: NAR) and the immediate Past-President of the NWT and Nunavut Chamber of Mines.
South Crofty Summary (JORC 2012) Mineral Resource Estimate
| Area | Classification | Mass (kt) | Grade | Contained Tin / Tin Equivalent (kt) |
|---|---|---|---|---|
| Lower Mine | Indicated | 2,896 | 1.50% Sn | 43.6 |
| Inferred | 2,626 | 1.42% Sn | 37.4 | |
| Upper Mine | Indicated | 260 | 0.99% SnEq | 2.6 |
| Inferred | 465 | 0.91% SnEq | 4.2 |
TECHNICAL INFORMATION
ON BEHALF OF THE BOARD OF DIRECTORS
"Patrick F. N. Anderson"
Patrick F. N. Anderson
Caution regarding forward looking statements
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