Cornish Metals. Regulatory News (CUSN)

CORNISH METALS

CORNISH METALS RECEIVES PERMIT FOR UNITED DOWNS DRILLING PROGRAMME

March 24, 2021

Cornish Metals Inc. (TSX-V/AIM:CUSN) ("Cornish Metals" or the "Company"), is pleased to announce it will commence an exploration drilling programme at its United Downs project in Cornwall UK, on April 6, 2021, after receiving confirmation of its permitted development rights.

· The aim of the drill programme is to follow-up on the discovery of high-grade copper-tin mineralisation in drill hole GWDD-002 that recorded 14.69 metres ("m") at 8.45% copper ("Cu") and 1.19% tin ("Sn"), as first reported on April 6, 2020;

· Cornwall Council, being the relevant Mineral Planning Authority, has confirmed Cornish Metals' permitted development rights enabling the Company to commence an exploration drilling programme at its United Downs prospect under the provisions of Part 17 Class K of the Town and Country Planning (General Permitted Development) (England) Order 2015;

· Drilling is due to commence from the first of up to five separate drill sites on April 6, 2021;

· The drilling activities will be contracted to Priority Drilling Ltd and conducted under the supervision of Cornish Metals' local technical team; and

· The drill programme will be run with full COVID safe guidelines, policies and procedures in place.

Richard Williams, CEO of Cornish Metals, stated, "The receipt of the drilling permit from Cornwall Council is an important step in our aim of delineating a new high-grade copper-tin resource at United Downs.

"The first phase of the programme will focus on tracing the recently discovered high-grade copper-tin structure along strike and down to a depth of up to 500m. Thereafter, depending on success, we aim to conduct a second phase of infill drilling later in the year to enable a maiden mineral resource to be defined.

"Our local exploration team has worked hard over the last few months to complete the work required for the application and consult with local residents on our plans for the forthcoming campaign. Much has happened in the year since we announced the initial discovery, including renaming the company to Cornish Metals and completing a dual listing on the AIM Market of the London Stock Exchange. We now very much look forward to commencing this drill programme and discovering what more this historic mining area has to offer."

ABOUT CORNISH METALS

Cornish Metals completed the acquisition of the South Crofty tin and United Downs copper / tin projects, plus additional mineral rights located in Cornwall, UK, in July 2016 (see Company news release dated July 12, 2016). The additional mineral rights cover an area of approximately 15,000 hectares and are distributed throughout Cornwall. Some of these mineral rights cover old mines that were historically worked for copper, tin, zinc, and tungsten.

The United Downs copper-tin project is located in the historic Gwennap mining district, which was an area of high grade copper mining in the 1700s and 1800s (United and Consolidated Mines). More recently, the Wheal Jane mine (immediately east of the United Downs project) and Mount Wellington mine (within the United Downs project area) were in production up until 1991 and 1978, respectively. All of the mines in the vicinity were underground operations, extending up to approximately 500m below surface. Mineralisation remains open to depth beneath these mines, as evidenced by drilling results from GWDD-002 in 2020, which intersected 4.04m grading 4.4% Cu and 2.06% Sn at a downhole depth of 638.85m - 642.89m beneath the United Mine (see news release dated November 18, 2020).

The South Crofty project covers the former producing South Crofty tin mine located beneath the towns of Pool and Camborne, Cornwall. South Crofty mine closed in 1998 following over 400 years of continuous production. Since acquiring the project in 2016, Cornish Metals has completed and published maiden NI 43-101 mineral resources for South Crofty using the vast archive of historical production data and more recent drilling completed between 2007 and 2013. In 2017, Cornish Metals completed a Preliminary Economic Assessment that demonstrated the economic viability of re-opening the mine. Additionally, Cornish Metals has undertaken extensive pilot-scale water treatment trials and successfully applied for and received the necessary environmental permits to abstract, treat and discharge mine water in order to dewater the mine. Planning permissions for the operation of the mine and re-development of the surface facilities have been secured and construction of the water treatment plant foundations commenced. The dewatering pumps, variable speed drives and new high-voltage power supply have been delivered to site.

For additional information please contact:

In North America:

Irene Dorsman at (604) 210 8752 or by e-mail at irene@cornishmetals.com 

ON BEHALF OF THE BOARD OF DIRECTORS

"Richard D. Williams"

Richard D. Williams, P.Geo

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution regarding forward looking statements

This news release contains "forward-looking statements". Forward-looking statements, while based on management's best estimates and assumptions at the time such statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the COVID-19 global pandemic and any variants of COVID-19 which may arise; risks related to the availability of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations.

Although Cornish Metals has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cornish Metals undertakes no obligation or responsibility to update forward-looking statements, except as required by law.