Cornish Metals Inc. provided an update on current activities at its 100% owned South Crofty tin project located in Cornwall, United Kingdom. The South Crofty Preliminary Economic Assessment (?PEA?) is on track for completion in second quarter of 2024. Refurbishment of New Cook?s Kitchen (?NCK?) shaft is progressing as planned with the two winders and cages now installed, fully commissioned and certified to allow for safe transport of equipment and workers within the shaft.

Mine dewatering continues with the submersible pumps and Water Treatment Plant (?WTP?) operating to specifications. The water level in NCK shaft is being maintained at approximately 280 metres below surface and the treated water being discharged to the Red River continues to exceed the standards permitted by the Environment Agency. Exploration drilling of the Wide Formation target continues with nine holes completed and approximately 7,200 metres drilled to date.

Drill holes 10 and 11 are currently in progress and samples for the previous three holes have been submitted for assay. Results will be reported when available. The tin price has surpassed $30,000 per tonne for the first time in over a year, rising by over 25% year-to-date and outperforming other base metals mainly reflecting ongoing supply disruptions amid an expected improving demand outlook.