CORNISH METALS RETAINS DIGBEE ESG RATING OF A

(AIM:TIN) Cornish Metals plc announced it has retained an overall A rating from Digbee ESG in its second annual independent sustainability assessment, covering both the corporate level and the South Crofty project. The Digbee ESG rating system scores mining companies from AAA to D, with Cornish Metals achieving an A at both the corporate level (range B to AAA) and for South Crofty (range CCC to AAA), resulting in an overall A rating with a possible range of CCC to AAA. The 2026 assessment was conducted against Digbee’s development-stage frameworks and is valid for 12 months from 11 August 2026. The company’s sustainability governance has become more structured, with Board oversight, ESG KPIs in senior management and executive incentives, dedicated ESG budgets, a revised double materiality assessment, and publication of its second Sustainability Report. In 2025, the Mine Water Treatment Plant treated approximately 3.6 million cubic metres of mine water, with discharges reported as compliant with permit limits. Renewable sources accounted for 96% of total energy consumption in 2025, with on-site hydropower supplying the treatment plant. South Crofty delivered tangible regional benefits in 2025, with 84% of employees recruited from Cornwall and £24.4 million spent with 516 suppliers, including 212 Cornish businesses. The underground mine design, reuse of existing infrastructure on predominantly brownfield land, and planned paste backfill of tailings are intended to limit new land disturbance and eliminate the need for a permanent surface tailings facility. Digbee identified areas for further work, including independent assurance of sustainability data, maturing risk management systems, and greater visibility of closure and long-term water management provisions. The company is reviewing these findings as part of its Sustainability Strategy. CEO Don Turvey stated that retaining the A rating is an independent check on progress as South Crofty moves from planning towards construction, and highlighted the strengthening of governance and regional benefits. South Crofty is a historical underground tin mine in Cornwall, United Kingdom, permitted to commence underground mining (valid to 2071), construct a new processing facility, and build all necessary site infrastructure. It is expected to produce approximately 4,700 tonnes of tin-in-concentrate annually in the first five years of full production at lowest-quartile all-in sustaining costs over an initial 14-year mine life. The mine is designed to have low environmental impact with zero surface tailings and could be the first primary producer of tin in Europe or North America. Tin is classified as a Critical Mineral by the UK, American, and Canadian governments, with about two-thirds of global tin production coming from China, Myanmar, and Indonesia. South Crofty benefits from strong support at the community, regional, and national government levels, a growing local team, and could generate over 300 direct jobs, supporting a secure domestic supply of tin in the UK and a low carbon economy.

Q2 ACTIVITIES UPDATE

(AIM: TIN) Cornish Metals plc issued an oversubscribed US$210 million senior secured bond, which has subsequently been admitted to trading on Nordic ABM, with strong demand from investors across North America, the UK and Europe, the proceeds of which to be used for the construction of South Crofty. Tin prices remained robust during the quarter, with a period-end spot price of approximately US$56,600/tonne supporting the project economics; NPV6% at the period end spot price is estimated at approximately £550 million. Secured bridge financing facilities of up to approximately £52 million from the National Wealth Fund and Vision Blue Resources, further strengthening the funding package ahead of a targeted final investment decision. The Company’s cash position as at 30 June 2026 was £12.0 million (£18.5 million on 24 August 2026), excluding the cash held in escrow of US$215.8 million following the placement of the US$210 million senior secured bond. Dewatering is underway through the fully commissioned 195-level pump station, the first time the mine has been dewatered to this level in over 28 years. Front-End Engineering Design of the process plant was completed, with Detailed Engineering being progressed, both engagements led by Ausenco. South Crofty is expected to produce approximately 4,700 tonnes of tin-in-concentrate annually in the first five years of full production at lowest-quartile all-in sustaining costs over an initial 14-year mine life.

Tincorp Advances Phase 1 - 10,000 Metre Drill Program at the Santa Barbara Gold-Copper Project, Ecuador

Tincorp Metals Inc. (TSXV: TIN) has provided an update on its 10,000 metre Phase 1 drill campaign at the Santa Barbara Gold-Copper Project in southeastern Ecuador. Drilling began on April 14, 2026, with four drill rigs currently operating and five holes completed so far. The company has filed an updated mineral resource estimate for the project, effective March 23, 2026, reporting indicated resources of 29.8 million tonnes at 0.73 g/t gold and 0.10% copper, and inferred resources of 205.7 million tonnes at 0.52 g/t gold and 0.09% copper. The Phase 1 program aims to confirm historical drill results, complete infill drilling, and obtain fresh core for further study, with Phase 2 planned to focus on step-out drilling and resource extension. Assay results from the current drilling will be reported as they become available. The Santa Barbara Project is a large-scale porphyry system located in the Zamora Copper-Gold Belt, adjacent to other significant mines and projects. The company emphasizes that mineral resources are not mineral reserves and do not have demonstrated economic viability.

EXERCISE OF STOCK OPTIONS AND ISSUE OF EQUITY

Cornish Metals plc (AIM:TIN) announced the exercise of 20,000 options over ordinary shares using the net exercise method, resulting in the issuance of 4,545 new ordinary shares of 0.05 pence each. Application has been made for these shares to be admitted to trading on AIM, with dealings expected to commence at 8:00am on or around 06 May 2026. Following this admission, the company's issued and outstanding share capital will consist of 125,471,336 ordinary shares. The South Crofty project is described as the highest grade known tin Mineral Resource not in production and is permitted to commence underground mining valid to 2071. The project could generate over 300 direct jobs and would be potentially the first primary producer of tin in Europe or North America.