Grant of Performance Share Awards Under Long Term Incentive Plan and PDMR Shareholdings

Core Viewpoint - Cornish Metals Inc. has granted conditional performance share awards under its new Long Term Incentive Plan, aimed at incentivizing key employees as the company advances its South Crofty tin project in the UK [1][2][3]. Performance Awards - A total of up to 12,837,423 common shares have been granted as Performance Awards, based on a share price of 8.15p [2]. - The Performance Awards will vest on December 31, 2027, contingent upon meeting specific performance criteria and continued employment [3][5]. - The unvested Performance Awards represent approximately 1.03% of the company's issued share capital, alongside 25,916,667 share options from a legacy plan, which equates to about 2.07% of the issued share capital [3]. Key Personnel Grants - Significant Performance Awards have been granted to key executives: - Lodewyk "Don" Turvey (CEO): 3,680,982 shares - Matthew Hird (CFO): 2,024,540 shares - Fawzi Hanano (CDO): 1,978,528 shares [4][6]. Performance Conditions - The performance conditions for the awards include: 1. Achievement of milestone KPIs related to project execution, financing, resource conversion, and ESG targets (50% weighting) 2. Relative total shareholder return (TSR) measured over three years against the AIM Basic Resources Index and a peer group of global tin producers (50% weighting) [5]. Company Overview - Cornish Metals is focused on advancing the South Crofty tin project, which is permitted for underground mining and construction of a processing facility [8]. - The project is positioned to be the only primary tin producer in Europe or North America, with strong local and governmental support [8].