Cornish Metals: EXERCISE OF STOCK OPTIONS AND ISSUE OF EQUITY

Cornish MetalsAnnouncement

30/04/2026 09:00

EXERCISE OF STOCK OPTIONS AND ISSUE OF EQUITY

30 April 2026

Cornish Metals plc (AIM: TIN) (“Cornish Metals” or the “Company”), a mineral
exploration and development company focused on advancing its wholly owned and
permitted South Crofty tin project in Cornwall, United Kingdom, announces the
exercise of 20,000 options over ordinary shares in the Company using the net
exercise method. Using this method, which is permissible under the terms of
the Company's share option plan, the Company issues ordinary shares equivalent
to the value of the net gain, being the difference between the exercise price
and the market value on the date of exercise. Accordingly, 4,545 ordinary
shares of 0.05 pence each in the Company (the "New Ordinary Shares") have been
issued. The New Ordinary Shares will rank pari passu with the existing shares
and application has been made for the 4,545 Ordinary Shares to be admitted to
trading on AIM ("Admission"). It is expected that Admission will become
effective and dealings in the New Ordinary Shares will commence at 8:00am on
or around 06 May 2026.

Following Admission, Cornish Metals’ Issued and Outstanding share capital will
consist of 125,471,336 ordinary shares of 0.05 pence each in Cornish Metals
plc. The Company does not hold any shares in treasury. Shareholders may use
this figure as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the Company.

ABOUT CORNISH METALS

Cornish Metals is a mineral exploration and development company that is
advancing the South Crofty critical mineral project towards production. South
Crofty:

* is a historical underground tin mine located in Cornwall, United Kingdom and
  benefits from existing mine infrastructure including multiple shafts that
  can be used for future operations;
* is the highest grade known tin Mineral Resource not in production with
  significant near-mine and regional Mineral Resource potential;
* is permitted to commence underground mining (valid to 2071), construct a new
  processing facility and for all necessary site infrastructure;
* will be a low environmental impact underground mine with zero surface
  tailings;
* would be potentially the first primary producer of tin in Europe or North
  America. Tin is a Critical Mineral as defined by the UK, American, and
  Canadian governments as it is used in almost all electronic devices and
  electrical infrastructure. Approximately two-thirds of the tin mined today
  comes from China, Myanmar and Indonesia;
* benefits from strong local community, regional and national government
  support with a growing team of skilled people, local to Cornwall, and could
  generate over 300 direct jobs;
* is an opportunity for a secure domestic supply of tin in the UK supporting a
  low carbon economy.

ENDS

Engage with us directly at our investor hub. Sign up at:
https://investors.cornishmetals.com/link/e9Mdxe

For additional information please contact:

+---------------------------+------------------+-----------------------------+
| Cornish Metals            | Fawzi Hanano     | investors@cornishmetals.com |
|                           | Emily Allhusen   | info@cornishmetals.com      |
+---------------------------+------------------+-----------------------------+
|                           |                  | Tel: +44 1209 715 777       |
|                           |                  |                             |
+---------------------------+------------------+-----------------------------+
| SP Angel Corporate        | Richard Morrison | Tel: +44 203 470 0470       |
| Finance LLP               | Charlie Bouverat |                             |
| (Nominated Adviser)       |                  |                             |
|                           |                  |                             |
|                           |                  |                             |
+---------------------------+------------------+-----------------------------+
| Berenberg                 | Jennifer Lee     | Tel: +44 20 3753 3040       |
| (Joint Broker)            | Ivan Briechle    |                             |
+---------------------------+------------------+-----------------------------+
|                           |                  |                             |
|                           |                  |                             |
| Peel Hunt                 | Ross Allister    | Tel: +44 20 7418 8900       |
| (Joint Broker)            | David McKeown    |                             |
+---------------------------+------------------+-----------------------------+
|                           |                  |                             |
|                           |                  |                             |
+---------------------------+------------------+-----------------------------+
| BlytheRay                 | Tim Blythe       | cornishmetals@blytheray.com |
| (Financial PR)            | Megan Ray        | Tel: +44 207 138 3204       |
|                           | Said Izagaren    |                             |
+---------------------------+------------------+-----------------------------+