LAST DAY OF TRADING ON AIM AND RE-DOMICILE UPDATE

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

Vancouver, December 15, 2025

Cornish Metals Inc. (AIM/TSXV: CUSN) ("Cornish Metals", "Cornish Canada" 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, provides a further update following the receipt of the final order from the Ontario Superior Court of Justice (the "Court Order") approving the previously announced re-domicile of the Company (the "Arrangement").

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 UK") in exchange for the issue to the Company's shareholders of new shares in Cornish UK (each a "Cornish UK Share"), on the basis of one (1) Cornish UK Share for ten (10) Cornish Canada Shares, rounded down to the nearest whole number of Cornish UK Shares. In the event that any holder of Cornish Canada Shares holds fewer than ten (10) Cornish Canada Shares, or the number of Cornish Canada Shares held when divided by ten (10) is not a whole number, such allocation will be rounded down to the nearest whole number (or zero, if fewer than ten (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 December 16, 2025.

In order for the Company's registrar to facilitate the transfer of all of the Cornish Canada Shares to Cornish UK and the issue of the new Cornish UK 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 AIM will be 4:30 p.m. (London time) today on December 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 UK is 8:01 AM (London time) (being 12:01 AM Vancouver time) on 16 December 2025. At such point Cornish UK 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 16 December 2025.

Accordingly, bringing forward the last day of trading on AIM to 4:30 p.m. (London time) on December 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 UK shall issue the Cornish UK Shares in accordance with the Arrangement on December 16, 2025 with CREST accounts expected to be credited by December 18, 2025.

Updated Expected timetable of principal events

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

2025

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.

Caution regarding forward looking statements