THE UK CHANCELLOR VISITS SOUTH CROFTY
CORNISH METALS HOSTS THE UK CHANCELLOR OF THE EXCHEQUER AT SOUTH CROFTY
Vancouver, July 29, 2025
Cornish Metals Inc. (AIM/TSX-V: CUSN) ("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 that on 29 July 2025, the Company hosted The RT Hon Rachel Reeves MP, Chancellor of the Exchequer, at South Crofty.
This visit follows the UK Government's £28.6 million investment in Q1-2025 via the National Wealth Fund to support the re-opening of South Crofty. The occasion marked the Chancellor's first visit to Cornwall since taking office and comes as part of the Government's broader commitment to unlocking regional growth, with South Crofty highlighted as a flagship example of how investment in critical industries can support job creation and economic renewal.
During the visit, the Chancellor toured the:
· Water treatment plant, which included an overview of the treatment process;
· Winder house, where she received a briefing on the recently ordered production and service winders;
· Underground mine, including travelling via the New Cook's Kitchen shaft cage.
Image 1: The Chancellor poses for a selfie with members of the Cornish Metals team
Don Turvey, CEO and Director of Cornish Metals, stated: "We are honoured to have welcomed the Chancellor to South Crofty, where we showcased the significant progress we're making as we move toward production. The UK Government's £28.6 million investment via the National Wealth Fund is a powerful vote of confidence in our project and the future of Cornwall's mining industry.
"Tin is a critical mineral for the clean energy transition, essential to electronics, electric vehicles, and renewable infrastructure. By reviving domestic production at South Crofty, we're not only creating over 300 direct jobs but also supporting many more across local supply chains and regional businesses.
"Our focus remains on delivering long-term, sustainable value safely, responsibly, and with deep roots in the community. We're proud to be playing a role in bringing responsible tin mining back to Cornwall and supporting economic renewal and industrial growth in the region."
Rachel Reeves, Chancellor of the Exchequer, commented: "Like in every part of the UK, I am determined to unlock growth that creates jobs and puts more money in Cornish people's pockets. Our investment to revive Cornwall's proud tin mining industry and the thousands of jobs it will create for years to come is one way we are renewing the county."
Image 2: The Chancellor travelled underground into the South Crofty mine and used the New Cook's Kitchen shaft cage
Image 3: The Chancellor observing how contaminated mine water is treated from the top of the water treatment plant
Image 4: The Chancellor in conversation with a member of the Cornish Metals team
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Turvey"
Don Turvey
CEO and Director
Engage with us directly at our investor hub. Sign up at: https://investors.cornishmetals.com/link/y1BBJe
For additional information, please contact:
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Cornish Metals
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Fawzi Hanano Irene Dorsman |
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Tel: +1 (604) 200 6664
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SP Angel Corporate Finance LLP (Nominated Adviser & Joint Broker) |
Richard Morrison Charlie Bouverat Grant Barker |
Tel: +44 203 470 0470
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Hannam & Partners (Joint Broker) |
Matthew Hasson Andrew Chubb Jay Ashfield |
Tel: +44 207 907 8500
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BlytheRay (Financial PR) |
Tim Blythe Megan Ray |
Tel: +44 207 138 3204 |
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Caution regarding forward looking statements
This news release may contain certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements"). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company's ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could", "would" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements 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 availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; 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. The list is not exhaustive of the factors that may affect Cornish's forward-looking statements.
Cornish Metals' forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law.
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