Cornish Metals Completes an Updated PEA of the South Crofty Critical Mineral Project with an NPV of £180 Million and 20% IRR

Importantly, the South Crofty Mineral Resource remains open at depth, along strike and within the current mine envelope. Capital and Operating CostsThe pre-production capital cost of the South Crofty project commencing from 1 April 2026 is estimated to be £198 million. The production profile is constrained by the current South Crofty Mineral Resource as last updated in September 2023. Figure 8: South Crofty tin production profile. There is insufficient data to estimate a Mineral Resource in the area considered and it is uncertain if further exploration will result in the definition of a Mineral Resource.