8 April 2022

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First Tin Plc

("First Tin" or "the Company")

First Day of Dealings

First Tin,  a tin development company with advanced, low capex projects in Germany and Australia, is pleased to announce the admission of its ordinary shares ("Ordinary Shares") to trading on the Main Market of the London Stock Exchange with a standard listing at 8.00 a.m. under the ticker "1SN" ("Admission). The ISIN of the Ordinary Shares is GB00BNR45554.

The Admission follows a subscription, institutional placing and retail offer via PrimaryBid which raised in aggregate £20 million (before expenses) at a placing price of 30 pence per share.

The funds raised for the Company will be used to rapidly develop two tin projects in Germany and Australia before the end of 2025, so that it can provide provenance of supply to support the current global clean energy and technological revolutions.

First Tin Highlights:

Experienced Board and management team:

·    First Tin is led by renowned global tin specialists with over 150 years of experience in tin exploration, development, mining, processing and commercialisation. All of which are focused on corporate governance, ESG and aligning shareholder and stakeholder interests

100% ownership of two advanced, low capex tin development projects:

·    First Tin's assets are located in low-risk, conflict-free jurisdictions of Germany and Australia. These Tier 1 assets are located near good infrastructure, with established reserves and simple mineralogy creating a quick path to production. Both assets also have active mining licenses granted over them. Together the assets represent the 5^th largest undeveloped tin reserve globally, outside Russia, Kazakhstan and the Democratic Republic of Congo 

Compelling CAPEX versus NPV Ratio:

·    According to recent third-party studies, the combined development CAPEX of both projects totals c. US$125m compared to a combined  NPV8 for both projects (at US$40,000 tin) of c.US$771m.  The post money market cap of First tin after the £20m fundraise will be approximately £80m 

Potential for immediate value to be created through achievement of near-term development milestones ahead of sustainable production and processing by 2025

·    Development studies will be completed over the next 18 months with production forecast in 2025. Recently completed third party studies have demonstrated robust economics at materially lower tin prices than are in existence today

Well positioned to take advantage of a growing market:

·    Global demand for tin has significantly increased in recent times driven by the global clean energy and technological revolutions. Given the very low physical inventory levels currently sitting at the London and Shanghai metal exchanges coupled with significant supply challenges being faced by leading tin producing countries such as Myanmar and Indonesia, the macro-outlook for the tin market remains robust. 

Providing assured provenance with a traceable, ESG compliant supply of a critical raw material:

·    First Tin is committed to best-in-class environmental responsibility with a 'leave no trace' philosophy including using low carbon and low waste production methods. An independent ESG Digbee Audit is already underway to independently verify and score First Tin in this area.

Defined long-term vision:

·    To become a leading global tin producer that supplies fully traceable and verifiable tin units into fast-growth global industries which have a high requirement for tin

Thomas Buenger, Chief Executive Officer, commented:

"We are very pleased with the level of interest generated from new investors in support of our IPO. This is an exciting milestone for the Company and we welcome our new and supportive shareholders alongside us in our growth journey.

"First Tin is deeply committed to our mission of supplying a sustainable answer to the global supply shortage many industrial users of tin are currently facing and we very much look forward to accelerating this process with the benefit of our Admission to the Main Market. We are now well placed to create near term value for our investors through low-capex development work to advance two assets towards production before the end of 2025."

Enquiries:

Notes to Editors

First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.

Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.

First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.