Cornish Metals Board And Management Update

Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company"), a mineral exploration and development company focused on advancing its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, is pleased to announce that, further to the Company's news release dated August 11, 2024 and following approval of a UK work visa, Don Turvey's appointment as Chief Executive Officer and Executive Director of the Company is effective from October 9, 2024. Mr. Turvey is in the process of relocating from South Africa to Cornwall, where he will be based.

Ken Armstrong has returned to the position of Non-Executive Director. Patrick Anderson returned to the position of Non-Executive Chair of the Board of Directors of the Company effective 30 September 2024.

o US$201 million after-tax NPV8% and 29.8% IRR

o 3-year after-tax payback

o 4,700 tonnes average annual tin production in years two through six

o Life of mine all-in sustaining cost of US$13,660 /tonne of payable tin

o Total after-tax cash flow of US$626 million from start of production

• Tin is a Critical Mineral as defined by the UK, American, and Canadian governments;
• Approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia;
• There is no primary tin production in Europe or North America;
• South Crofty benefits from strong local community, regional and national government support.

TECHNICAL INFORMATION

ON BEHALF OF THE BOARD OF DIRECTORS

"Patrick F. N. Anderson"

Patrick F. N. Anderson

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Caution regarding forward looking statements

Caution regarding non-IFRS measures