CORNISH METALS ANNOUNCES APPOINTMENT OF Mr. STEPHEN GATLEY AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR

October 14, 2021

Cornish Metals Inc. (TSX-V: CUSN) ("Cornish Metals" or the "Company") is pleased to announce the appointment of Mr. Stephen Gatley to the Board of Directors (the "Board') as an independent non-executive Director.

Mr. Gatley is a mining engineer and graduate of the Royal School of Mines, London. He spent the early part of his career working in the Cornish tin industry at both Wheal Jane and South Crofty mines and was the General Manager at South Crofty at the time of its closure in 1998. He also worked for Rio Tinto plc in senior positions at underground base metal mines in both Europe and South America, prior to joining Lundin Mining Corp. where he served as Vice President Technical Services from 2012 to 2021.  In this position, he provided technical oversight to Lundin's operating mines and growth initiatives, including the acquisition and subsequent construction of the high-grade Eagle underground nickel/copper mine in Michigan, USA, the acquisition and subsequent expansion of the Candelaria copper open pit and its three underground mines in Chile and the acquisition and integration of the Chapada copper/gold mine in Brazil.

Mr. Gatley is based in the UK and has been a director of numerous Lundin Mining Corp subsidiary companies and remains as a director of their Portuguese subsidiary, Somincor S.A. He has previously served as a non-executive Director of AIM and ASX listed Union Resources Ltd. and TSX listed Sunridge Gold Corp.

Mr. Gatley stated, "I am delighted to join to the Board of a company that is focused on restarting the Cornish mining industry and I look forward to bringing my technical underground mining experience and local knowledge to bear".

Richard Williams, CEO of Cornish Metals, stated, "We are very pleased that Steve has agreed to join our Board. He not only has an extensive background in mining but also is very familiar with our South Crofty tin project, which will be extremely valuable as we look to advance our Cornish assets.  His commitment to our Company is testament to the potential he sees for Cornish Metals to be an important supplier of some of the metals the UK needs in the push to net-zero and electrification of the economy."

The following information is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in relation to Stephen Trelawney Gatley, aged 61:

There are no further disclosures required under Schedule 2(g) of the AIM Rules for Companies. Mr. Gatley does not hold any shares in the Company.

ABOUT CORNISH METALS

Cornish Metals completed the acquisition of the South Crofty tin and United Downs copper / tin projects, plus additional mineral rights located in Cornwall, UK, in July 2016 (see Company news release dated July 12, 2016). The additional mineral rights cover an area of approximately 15,000 hectares and are distributed throughout Cornwall. Some of these mineral rights cover old mines that were historically worked for copper, tin, zinc, and tungsten.

For additional information please contact:

In North America:

Irene Dorsman at (604) 200 6664 or by e-mail at [email protected] 

ON BEHALF OF THE BOARD OF DIRECTORS

"Richard D. Williams"

Richard D. Williams, P.Geo

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.

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 programs; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; 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.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.