Capital Access Window – Trading Halt

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE A PROSPECTUS OR OFFERING MEMORANDUM OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF CORNISH METALS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT IN RESPECT OF CORNISH METALS PLC.

This Announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended by the European Union (Withdrawal) Act 2020 ("UK MAR").  In addition, market soundings (as defined in UK MAR) were taken in respect of certain of the matters contained in this Announcement, with the result that certain persons became aware of such inside information, as permitted by UK MAR.  Upon the publication of this Announcement, this inside information is now considered to be in the public domain and such persons shall therefore cease to be in possession of inside information.

Capital Access Window – Trading Halt

14 October 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, is pleased to announce its intention to utilise AIM’s new Capital Access Window in connection with a proposed fundraise (“Proposed Fundraise”).

The Proposed Fundraise would supplement the Company’s existing cash reserves and US$210 million raised through senior secured Nordic Bonds in order to complete project financing and progress the development of the South Crofty tin mine towards first production in mid-2028.

Use of AIM's Capital Access Window rule

Following the updates to the AIM Rules for Companies announced in August 2026, and to support the Proposed Fundraise, the Company will enter a Capital Access Window with effect from 7.30am BST today. This is a voluntary temporary pause in the trading of the Company's shares on AIM to make it easier to reach a broader range of investors, and to provide pricing stability, during a fundraise. If undertaken, the Company intends to include an offer to retail investors as part of the Proposed Fundraise. The Capital Access Window will remain in place until a further announcement is made detailing the results of the Proposed Fundraise.

This announcement does not constitute an offer of securities in any jurisdiction. The Proposed Fundraise, if implemented, will be the subject of further announcements, which will include the material terms and conditions of the Proposed Fundraise.

ENDS

For additional information please contact:

Cornish Metals	Fawzi Hanano Emily Allhusen	[e-mail] [e-mail]
		Tel: [phone]
SP Angel Corporate Finance LLP (Nominated Adviser and Placing Agent)	Charlie Bouverat Adam Cowl Jen Clarke	Tel: [phone]
Berenberg (Joint Broker)	Jennifer Lee Ivan Briechle	Tel: [phone]
Peel Hunt (Joint Broker)	Ross Allister David McKeown	Tel: [phone]
Hannam & Partners (Placing Agent)	Andrew Chubb Leif Powis	[phone]
BlytheRay (Financial PR)	Tim Blythe Megan Ray Said Izagaren	[e-mail] Tel: [phone]

IMPORTANT INFORMATION

This announcement and the information contained herein is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into Australia, Hong Kong, Singapore, Canada, New Zealand, the Republic of South Africa, Japan, or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction.

The distribution of this announcement and other information in connection with the Fundraise in certain jurisdictions may be restricted by law and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Neither this announcement nor any part of it nor the fact of its distribution shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

The person responsible for arranging the release of this announcement on behalf of the Company is Don Turvey.

Joh. Berenberg, Gossler & Co. KG, London Branch (“Berenberg”), which is authorised and regulated in Germany by the German Federal Financial Supervisory Authority (BaFin) and subject to limited regulation by the by the Financial Conduct Authority, is acting as joint bookrunner to the Company in connection with the Proposed Fundraise and is not acting for, and will not be responsible to, any person other than the Company for providing the protections afforded to customers of Berenberg or for advising any other person on the arrangements described in this Announcement.

Peel Hunt LLP (“Peel Hunt”), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority (“FCA”), is acting as joint bookrunner to the Company in connection with the Proposed Fundraise and is not acting for, and will not be responsible to, any person other than the Company for providing the protections afforded to customers of Peel Hunt or for advising any other person on the arrangements described in this Announcement.

S.P. Angel Corporate Finance LLP (“SP Angel”) which is authorised and regulated in the United Kingdom by the FCA, is acting nominated adviser to the Company, for the purposes of the AIM Rules for Companies, and as placing agent in connection with the Proposed Fundraise and is not acting for, and will not be responsible to, any person other than the Company for providing the protections afforded to customers of SP Angel or for advising any other person on the arrangements described in this Announcement. The responsibilities of SP Angel, as nominated adviser under the AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange and are not owed to the Company, its directors or any other person.

H&P Advisory Limited (“H&P”), which is authorised and regulated in the United Kingdom by the FCA, is acting as placing agent to the Company in connection with the Proposed Fundraise and is not acting for, and will not be responsible to, any person other than the Company for providing the protections afforded to customers of Hannam & Partners or for advising any other person on the arrangements described in this Announcement.

This Announcement or any part of it does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the Australia, New Zealand, Canada, Japan, the Republic of South Africa or any other jurisdiction in which the same would be unlawful or to any person to whom it is unlawful to make such offer or solicitation. No public offering of the Company’s securities is being made in any such jurisdiction. This Announcement does not constitute a recommendation concerning any investor’s investment decision with respect to the Proposed Fundraising.

This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

Certain statements contained in this Announcement constitute “forward-looking statements” with respect to the results, financial condition, performance, developments or achievements of the Company and its subsidiaries. Words such as “believes”, “anticipates”, “estimates”, “expects”, “intends”, “plans”, “aims”, “potential”, “may”, “will”, “would”, “could”, “considered”, “likely”, “estimate”, “outlook” and variations of these words and similar future or conditional expressions, are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements and forecasts are inherently predictive, speculative and involve risks and uncertainties and assumptions that could cause actual results, financial condition, performance, developments or achievements to differ materially from those expressed or implied by these forward-looking statements and forecasts. Many of these risks, uncertainties and assumptions relate to factors that are beyond the Company’s ability to control, predict or estimate precisely. No representation or warranty is made, and no responsibility or liability is accepted, as to the achievement or reasonableness of, and no reliance should be placed on, such forward-looking statements. The forward-looking statements contained in this Announcement speak only as of the date of this Announcement. Each of the Company, Berenberg, Peel Hunt, SP Angel, H&P expressly disclaim any obligation or undertaking to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, unless required to do so by applicable law or regulation or London Stock Exchange plc.

Each investor or prospective investor should conduct his, her or its own investigation, analysis and evaluation of the business and data described in this announcement and publicly available information. The price and value of securities can go down as well as up. Past performance is not a guide to future performance.  

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

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