Metallurgical Drill Programme Complete
Favourable Ore Sorting Results
Feasibility Study Advancing

Cornish Metals Inc. (TSX-V/AIM: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on its South Crofty Tin Project (“South Crofty” or the “Project”) in Cornwall, United Kingdom, is pleased to provide an update on the progress of activities at South Crofty. The Feasibility Study is advancing on schedule with a substantial amount of the study completed. 

Richard Williams, CEO and Director of Cornish Metals, stated: “We expected the mineralisation at South Crofty to respond well to X-Ray Transmission (“XRT”) ore sorting, but these results exceed even our most optimistic expectations. XRT ore sorting has proven highly effective at preconcentrating mineralisation sampled from five different zones of the South Crofty deposit. We expect this result will have a positive effect on the project economics, allowing for lower power consumption and a smaller process plant and therefore lower capital and operating costs. 

“In addition, good progress is being made on the Feasibility Study as project activities continue at pace at South Crofty.”

Metallurgical Testwork – Excellent Ore Sorting Results 

• Both XRT ore sorting and Heavy Liquid Separation (“HLS”) pre concentration testwork completed with excellent results:
  • XRT: 55% mass rejection and <3% metal loss (-50mm – +15mm size fraction);
  • HLS: 50% mass rejection and <5% metal loss (-15mm – +0.85mm size fraction);
• XRT ore sorter testwork of bulk composite samples completed by TOMRA Sorting GmbH (see photos here and here);
• HLS testwork of bulk composite samples completed by Wardell Armstrong International;
• The metallurgical testwork was conducted on samples from the 2023 metallurgical drill programme across five mineralised zones (No. 4 Lode, No. 8 Lode, Roskear B/D Lodes, North Pool Zone and Dolcoath South), representing the majority of the potential production areas in the first six years of the proposed mine life;
• The testwork results confirm the upgrading potential of South Crofty mineralisation and enables continuation of the process design optimisation work to reduce the size of the mineral processing plant and materially lower capital costs, operating costs and environmental footprint.

Feasibility Study Progress

In addition to ore-sorting testwork, the following Feasibility Study components have also been completed:

• Headframe structural modelling and refurbishment; 
• Schedule and costing for the refurbishment and recommissioning of New Cooks Kitchen and New Roskear shafts;
• Televiewer investigations and geotechnical rock testing to confirm known historical structural and  rock mass property data; 
• Conceptual numerical modelling of the proposed underground mining methods and stope designs. Back analysis supports historical operating data. Ground conditions and excavation stability are expected to be very good;
• Phase 1 of the metallurgical testwork programme (mineralogy, physical competency, characterisation and gravity response testwork). The gravity response results are very good and confirm previous operational results;
• Concept engineering on paste backfill options and sighter testwork; and
• Ground investigations for the new mineral processing plant. 

The following Feasibility Study components are currently underway:

• Mineral processing plant design, layout and capital cost study, incorporating the results of the metallurgical testwork programme reported today and potential future throughput expansions;
• Underground mine design and optimisation using the latest South Crofty Mineral Resource Estimate published in September 2023 (see news release dated September 13, 2023);
• A mine ventilation study, underground infrastructure design and hoisting analysis;
• A Feasibility Study level engineering design for the paste backfill plant;
• Hydrogeology, environmental, social, marketing and closure studies; and
• AMC Mining Consultants has been appointed to independently review and compile the Feasibility Study with initial gap analysis and site visits completed. 

Cornish Metals has published an updated corporate presentation to its website that can be accessed at Cornish Metals Presentations.