TIDMCUSN
RNS Number : 0125Z
Cornish Metals Inc.
09 January 2024
CORNISH METALS - SAMANTHA HOE-RICHARDSON JOINS THE BOARD OF
DIRECTORS
Vancouver, January 8, 2024
Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the
"Company"), a mineral exploration and development company focused
on advancing the South Crofty tin project ("South Crofty" or the
"Project") located in Cornwall, United Kingdom, to a production
decision, is pleased to announce that Samantha Hoe-Richardson has
joined the Board of Directors as Independent Non-Executive
Director, effective immediately.
Samantha is an experienced non-executive director from a global
mining, infrastructure and insurance background. She is currently a
non-executive director of Kew Soda Ltd, Assured Guaranty UK Ltd,
Ascot Underwriting Limited, 3i Infrastructure plc and Independent
Group Advisor on Climate Change & Sustainability to Laing
O'Rourke. Samantha was Head of Environment & Sustainable
Development at Network Rail until 2017 and prior to that spent 16
years at Anglo American plc, latterly as Head of Environment. She
previously worked in investment banking and audit. Samantha holds a
Masters Degree in nuclear and electrical engineering from the
University of Cambridge, and is also a qualified Chartered
Accountant.
Patrick Anderson, Chair of Cornish Metals, stated: "On behalf of
the Board of Directors, I welcome Samantha to the Cornish Metals
team as we embark on another exciting and critical year on the path
to get South Crofty back up and running. Samantha's experience in
both Sustainability / ESG and Finance will be a great addition to
the Board's skill set and we look forward to her contributions as
the Company grows."
The following disclosures are required regarding Samantha
Hoe-Richardson's appointment pursuant to Schedule Two paragraph (g)
of the AIM Rules for Companies (the "AIM Rules").
Samantha Jane Hoe-Richardson
Samantha Jane Hoe-Richardson (aged 52) is currently, or has
during the past five years been, a director of the following
companies:
Current directorships and/or Former directorships and/or partnerships
partnerships: (within the last five years):
Ascot Underwriting Limited Lancashire Insurance Company UK
Kew Soda Ltd Ltd
Assured Guaranty UK Limited Lancashire Holdings Limited
3i Infrastructure plc Royal School of Needlework (The)
Crayfen Limited RSN Enterprises Limited
Unum Limited
Unum European Holding Company
Limited
-----------------------------------------
Ms Hoe-Richardson does not currently hold any shares in the
Company.
ABOUT CORNISH METALS
Cornish Metals is a dual-listed company (AIM and TSX-V: CUSN)
focused on advancing the South Crofty high-grade, underground tin
Project through to a construction decision, as well as exploring
its additional mineral rights, all located in Cornwall, United
Kingdom.
-- South Crofty is a historical, high-grade, underground tin
mine that started production in 1592 and continued operating until
1998 following over 400 years of continuous production;
-- The Project possesses Planning Permission for underground
mining (valid to 2071), to construct new processing facilities and
all necessary site infrastructure, and an Environmental Permit to
dewater the mine;
-- South Crofty has the 4(th) highest grade tin Mineral Resource
globally and benefits from existing mine infrastructure including
multiple shafts that can be used for future operations;
-- Tin is a Critical Mineral as defined by the UK, USA, and
Canadian governments, with approximately two-thirds of the tin
mined today coming from China, Myanmar and Indonesia;
-- There is no primary tin production in Europe or North America;
-- Tin is an enabler of the energy transition - responsible
sourcing of critical minerals and security of supply are key
factors in the energy transition and technology growth;
-- South Crofty benefits from strong local community and
regional and national government support.
-- Cornish Metals has a growing team of skilled people, local to
Cornwall, and the Project could generate 250 - 300 direct jobs.
An updated Mineral Resource was completed in September 2023 with
a 39% increase in tonnes and 32% increase in contained tin in the
Indicated category for the Lower Mine (see news release dated
September 13, 2023 ) as summarised below:
South Crofty Summary (JORC 2012) Mineral Resource Estimate
Area Classification Mass Grade Contained Tin
(kt) /
Tin Equivalent
(kt)
---------------- ------ ----------- ----------------
Lower Mine Indicated 2,896 1.50% Sn 43.6
---------------- ------ ----------- ----------------
Inferred 2,626 1.42% Sn 37.4
----------------------------- ------ ----------- ----------------
Upper Mine Indicated 260 0.99% SnEq 2.6
---------------- ------ ----------- ----------------
Inferred 465 0.91% SnEq 4.2
----------------------------- ------ ----------- ----------------
The Mineral Resource Estimate for South Crofty is available in a
report titled " South Crofty Tin Project - Mineral Resource Update
NI 43-101 Technical Report ", dated October 27, 2023, co-authored
by Mr. N. Szebor (MCSM, MSc, BSc, CGeol, EurGeol, FGS) and Mr. R.
Chesher (FAusIMM(CP), RPEQ, MTMS) of AMC Consultants, and can be
accessed through the above link and on the Company's SEDAR+
page.
TECHNICAL INFORMATION
The technical information in this news release has been compiled
by Mr. Owen Mihalop who has reviewed and takes responsibility for
the data and geological interpretation. Mr. Owen Mihalop (MCSM, BSc
(Hons), MSc, FGS, MIMMM, CEng) is Chief Operating Officer for
Cornish Metals Inc. and has sufficient experience relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent
Person as defined under the JORC Code (2012) and as a Qualified
Person under NI 43-101. Mr. Mihalop consents to the inclusion in
this announcement of the matters based on his information in the
form and context in which it appears .
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, P.Geo
For additional information please contact:
Cornish Metals Fawzi Hanano investors@cornishmetals.com
Irene Dorsman info@cornishmetals.com
Tel: +1 (604) 200 6664
SP Angel Corporate Finance Richard Morrison Tel: +44 203 470 0470
LLP Charlie Bouverat
(Nominated Adviser & Joint Grant Barker
Broker)
Hannam & Partners Matthew Hasson cornish@hannam.partners
(Joint Broker) Andrew Chubb Tel: +44 207 907 8500
Jay Ashfield
BlytheRay Tim Blythe tim.blythe@blytheray.com
(Financial PR) Megan Ray megan.ray@blytheray.com
Tel: +44 207 138 3204
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 .
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information pursuant to Article 7
of EU Regulation 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 as amended.
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 programmes; actual results of proposed
exploration activities; possible variations in Mineral Resources or
grade; outcome of the current Feasibility Study; projected dates to
commence mining operations; 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.
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END
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