Update On Dewatering And Shaft Refurbishment

Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" 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 mine dewatering and refurbishment of New Cook's Kitchen ("NCK") shaft is progressing well and in-line with the latest update on 23 July 2025.

Shaft refurbishment and mine dewatering have now reached the mid-shaft pump station located at approximately 360 metres below surface in NCK shaft. Securing the work area and stabilising of the underground chamber of the pump station, enabling the installation of new permanent pumps, has commenced. Shaft refurbishment and mine dewatering will continue in parallel with this work, down to the current level of the submersible pumps at approximately 380 metres below surface.

Work on the pump station is expected to be completed during Q4 2025. The submersible pumps will then be lowered to the lower pump station level (approximately 730 metres below surface) and mine dewatering and shaft refurbishment will resume at that point. Mine dewatering and NCK shaft refurbishment to the lower pump station level are expected in mid-2026, as previously guided.

ON BEHALF OF THE BOARD OF DIRECTORS

"Don Turvey"

Don Turvey

CEO and Director

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Caution regarding forward looking statements