Cornish Metals plc has announced that, further to the Company’s announcement of 7 May 2026 in respect of the successful placement of US$210 million of Nordic bonds, it has entered into secured credit facilities with each of the National Wealth Fund Limited and Vision Blue Resources Limited totalling up to approximately £52 million to support the continued development of its wholly-owned South Crofty tin project in Cornwall, United Kingdom.

The proceeds of the Facilities are expected to be used as follows:
• Up to approximately £16 million will be used to credit the escrow account which has been set up in connection with the Bonds and is to be funded as a condition to issuance of the Bonds;
• for underground mine development and shaft refurbishment;
• for surface facilities and infrastructure;
• for the Company’s general operating and corporate purposes.

Don Turvey, CEO of Cornish Metals commented:
“This funding provides the Company with the financial runway to progress through to the final investment decision for the South Crofty project while continuing to advance and derisk the project by maintaining the high level of activities across site. It also signals the National Wealth Fund’s and Vision Blue’s continued support for Cornish Metals and our goal to restart tin mining in Cornwall, providing a sustainable supply
of this critical mineral to the West. As part of the project financing process, the Company has been engaging with investment parties, including strategic offtakers and institutional investors, interested in financing the development of South Crofty, and we are pleased with the level of interest we are receiving, further highlighting the significance of this project. We thank the National Wealth Fund and Vision Blue
for their continued support.”