The South Carn Brea Exploration Area

Cornish Metals Inc. (TSX-V/AIM: CUSN) (“Cornish Metals” or the “Company”), a dual-listed company focused on advancing the South Crofty high-grade, underground tin project through a parallel mine dewatering programme and delivery of a Feasibility Study, as well as exploring its additional mineral rights, all located in Cornwall, South West England, is pleased to report that it has reached an agreement with Roskear Minerals LLP (“Roskear Minerals”) to lease certain mineral rights located immediately adjacent to the southern boundary of the South Crofty Underground Permission area .

The 49 hectare lease area covers part of the historic Great Flat Lode and lies within the Company’s South Carn Brea Exploration Area. Exploration targets in this area include the sections of the Great Flat Lode not previously mined, as well as the Wide Formation, a structure interpreted to exist parallel to and beneath the Great Flat Lode.

The initial Prospecting Lease period is for five years, with the Company having the option to extend for a further five years if required, and can be converted to a Mining Lease at any time within the 10 year period. The agreement will enable Cornish Metals to explore and, if successful, mine within all of the lease area.

The terms of the Prospecting Lease require Cornish Metals to pay an annual rent to Roskear Minerals, plus a tin price-based sliding scale net smelter return royalty on production of any minerals recovered from the leased area under a subsequent Mining Lease.

The agreement with Roskear Minerals LLP is arms-length.

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Richard Williams, CEO of Cornish Metals, stated:

“This lease agreement with Roskear Minerals opens up an area we believe has significant exploration potential, covering a large section of the historic Great Flat Lode, and any other potential zones of tin mineralisation between the Great Flat Lode and South Crofty.”

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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Disclosure

At the time of writing the author holds no shares in Cornish Metals.

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