Slide 1: A unique opportunity for copper, tin and lithium in Cornwall
A unique opportunity for copper, tin and lithium in Cornwall All information ©Cornish Metals Inc. All Rights Reserved. 1
Slide 2: Disclaimer
Cornish Metals Inc Corporate Presentation Disclaimer This presentation may contain forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, pe
Slide 3: Management team
Cornish Metals Inc Corporate Presentation Management team Richard Williams President / Chief Executive Officer Over 30 years’ experience in the Spent the last 15 years Richard is a Professional Geologist with a M.Sc mining and exploration sectors, in public company degree in Mineral Exploration from
Slide 4: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 4
Slide 5: The opportunity
Cornish Metals Inc Corporate Presentation The opportunity United Downs Project - discovery of high-grade copper-tin mineralisation in 2020. Drill core from the new discovery at United Downs– 14.69m at 8.45% Cu and 1.2% Sn United Downs copper-tin project Exposure to three essential battery metals via
Slide 6: The assets
Cornish Metals Inc Corporate Presentation Cornish Metals’ Mineral Rights The assets South Crofty Gwinear Cu-Sn Project United Downs Cu-Sn Project New near-surface discovery Drill core from the United Downs new discovery– 14.69m at 8.45% Cu and 1.2% Sn United Downs copper - tin project Extensive mine
Slide 7: The assets
Cornish Metals Inc Corporate Presentation The assets Lithium exposure through Cornish Lithium Cornish Lithium has the right to explore Cornish Metals’ mineral right areas for lithium-in-brine & geothermal energy. Cornish Metals has a 25% free carried interest on the first project advanced to complet
Slide 8: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 8
Slide 9: United Downs
Cornish Metals Inc Corporate Presentation United Downs New copper-tin discovery 14.69m at 8.45% Cu and 1.2% Sn Drill core from 2020 discovery drill hole GWDD-002 at United Downs; section shown from 93.5m to 101m downhole. 2020 drilling identified 6 new mineralised lode structures located between Uni
Slide 10: United Downs
Cornish Metals Inc Corporate Presentation United Downs Surrounded by old mines Decline INE NEM The best place to INES JA Maid L TED M EA find a new mine is IDA WH SOL CON Wheal next to an old mine! A RE ETA RG E TA N MIN Target area hosts multiple Cu +/- Sn New Discovery: Lithium Lode GT O 14.69m at
Slide 11: Growth strategy
Cornish Metals Inc Corporate Presentation Growth strategy Near term Initial drill programme at United Downs to advance the project to inferred resource definition and scoping study. Test 3 lodes over a 1,000m strike length to a depth of 500m in the initial phase. Up to 7 further mineralised lode str
Slide 12: Programme & budget
Cornish Metals Inc Corporate Presentation Programme & budget Objective: 8,000m drill programme, initial resource estimate and scoping study over next 18 months. Delivery of feasibility study within 3 years (subject to drilling success and further funding). Year 1: Outline potential for a Mineral Res
Slide 13: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 13
Slide 14: South Crofty strategic asset
Cornish Metals Inc Corporate Presentation South Crofty strategic asset There is no primary mine production of tin in Europe or North America. A historic long-life mine, with one of the highest grade tin resources globally. An opportunity to produce “clean tin” - conflict free, and a positive impact
Slide 15: South Crofty P.E.A. and potential resource
Cornish Metals Inc Corporate Presentation South Crofty P.E.A. and potential resource 2020 diamond drill programme was Potential mine life extension Mine Life (years) successful in demonstrating presence of 70 multiple high grade tin lodes beneath old workings in the mine. 60 50 NI 43-101 Resource Es
Slide 16: South Crofty snapshot - a strategic asset
Cornish Metals Inc Corporate Presentation South Crofty snapshot - a strategic asset South Crofty is one of the highest grade tin projects in the world South Crofty is positioned in the lowest quartile of Sn cash cost curve Tin mineral resources grade (%) Costs ($/Tonne Of Tin) 5 .0 % 5 50,000 40,000
Slide 17: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 17
Slide 18: Copper - strong fundamentals
Cornish Metals Inc Corporate Presentation Copper - strong fundamentals Copper end markets 1. Construction 2. Electromobility 3. Renewables 4. Energy efficiency Copper plays a key role in construction completion and renovation activities. The metal also faces renewed demand in the wake of the EV revo
Slide 19: Tin - essential in electronics
Cornish Metals Inc Corporate Presentation Tin - essential in electronics Major tin end-users Global tin use by applications Metals most impacted by new technology 6% 6% 10% Solder Chemicals Automotive Packaging Tinplate (Food & Beverages) 13% Other 47% Lead-acid batteries Copper alloy 18% Electronic
Slide 20: Lithium - supply and demand widening market deficit looming
Cornish Metals Inc Corporate Presentation Lithium - supply and demand widening market deficit looming The widening market deficit in the lithium sector Surplus (deficit) projections will put pressure on the price kt kt 3 ,0 0 0.0 4 00 202 240 220 2 00 101 96 137 99 117 105 139 52 41 2 ,5 0 0.0 - (22
Slide 21: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved. 21
Slide 22: Investment highlights
Cornish Metals Inc Corporate Presentation Investment highlights High Impact Drilling: complete 8,000m drilling programme at United Downs. Market opportunity Fully permitted for a production decision at South Crofty, subject to completion of a feasibility study. Copper, tin and lithium are fundamenta
Slide 23: ESG focus
Cornish Metals Inc Corporate Presentation Richard Williams and Owen Mihalop presenting the South Crofty project to members of the local community. ESG focus Focus on brownfields areas: Projects located in areas of intense historic mining activity – remediation opportunity. Adding value to the region
Slide 24: Contents
Cornish Metals Inc Corporate Presentation Contents 01 Opportunity 02 United Downs 03 South Crofty 04 Market Dynamics 05 Summary 06 Appendix All information ©Cornish Metals Inc. All Rights Reserved.
Slide 25: Company background
Cornish Metals Inc Corporate Presentation Company background Owns a highly prospective portfolio of copper-tin-lithium mineral assets in Cornwall. Osisko Gold Royalties-backed Preliminary Economic Assessment of South Crofty tin-copper mine. concept to acquire high quality 2015 2017 mineral projects
Slide 26: Corporate information
Cornish Metals Inc Corporate Presentation Corporate information Cornish Metals share price (TSX-V last 5 years) Canada (TSXV – CUSN) Ordinary shares in issue CAD CUSN 268,170,157 0.30 0.25 Warrants (at $0.07 & $0.10 / share) Stock options 0.20 11,622,222 9,130,000 0.15 0.10 Major Shareholders 0.05 B
Slide 27: Directors & management
Cornish Metals Inc Corporate Presentation Patrick F.N. Anderson Chairman Directors (Image space if required) Mr. Anderson is the CEO of Dalradian Gold, currently permitting the Curraghinalt gold project in Northern Ireland. He was formerly director, President, Chief Executive Officer and co-founder
Slide 28: Directors & management
Cornish Metals Inc Corporate Presentation D. Grenville Thomas Director Directors Mr. Thomas has over 50 years' experience in the mining industry, building an impressive track record of discovery, including the world-class Diavik diamond mine and the Thor Lake rare metals deposit. He was the founder
Slide 29: Market dynamics - copper and tin prices on the rise
Cornish Metals Inc Corporate Presentation Market dynamics - copper and tin prices on the rise Copper price in 2020 Tin price in 2020 US$/t US$/t 8,000 21,000 7,500 Long term copper price: $7,400/t 3 20,000 3 19,000 Long term Tin price: $18,500/t 7,000 2 18,000 2 6,500 1 17,000 6,000 1 16,000 5,500 +
Slide 30: Copper market overview - main demand drivers
Cornish Metals Inc Corporate Presentation Copper market overview - main demand drivers Copper 1. Construction 2. Electromobility • China is accelerating into a phase of infrastructure development. • The rise in demand for EVs will be a decisive driver for copper. • The country is in the process of r
Slide 31: Copper - demand and supply
Cornish Metals Inc Corporate Presentation Copper - demand and supply Exposure to copper fundamentals The widening market deficit in the copper sector will put further pressure on price Supply / demand dynamics 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Greenfield supply (kt) 71 472 903 1
Slide 32: Tin market overview
Cornish Metals Inc Corporate Presentation Major tin end-users Tin market overview Automotive Packaging Tin is a soft, malleable, ductile and crystalline silvery-white metal. Being so soft, tin is (Food & Beverages) rarely used as a pure metal instead it is combined with other metals in order to make
Slide 33: Tin - the metal of the future
Cornish Metals Inc Corporate Presentation Tin - the metal of the future Essential for high-tech, low carbon economy – the “glue” in all electronics. Tin projected to be the metal most impacted by the growth of new technologies (batteries, robotics, solar power generation, power storage, IT, electric
Slide 34: Lithium market overview - main demand drivers
Cornish Metals Inc Corporate Presentation Lithium market overview - main demand drivers Lithium 1. Automotive 2. Grid storage • Automotive was the largest segment with a revenue share of 40.8% • Grid storage is anticipated to register the fastest CAGR of 2.1% in in 2019 and is expected to maintain i
Slide 35: Lithium - demand and supply
Cornish Metals Inc Corporate Presentation Lithium - demand and supply Commodity overview Top companies by production (2019) kT (LCE eq.) For the next decade, the Li-ion battery is likely to dominate the electric vehicle market. 150 118 Global lithium production in 2019 decreased by 19.0% YoY in resp
Slide 36: Lithium price outlook - prices at an inflection point
Cornish Metals Inc Corporate Presentation Lithium price outlook - prices at an inflection point SMM lithium price overview since 2018 US$/t 170,000 150,000 Dec 2018 Apr 2018 Exploration companies launched 130,000 campaigns to find new projects or Demand for lithium increased due to its expand known
Slide 37: Permits / mineral rights / UK Gov't HPO
Cornish Metals Inc Corporate Presentation Permits / mineral rights / UK Gov’t HPO Cornish Metals’ Mineral Rights Permits Fully permitted to construct a new mineral processing plant at the South Crofty site. This could serve as a central processing facility for United Downs, South Crofty and other pr
Slide 38: Central process plant – South Crofty
Cornish Metals Inc Corporate Presentation Central process plant – South Crofty United Downs 8km South Crofty 6km Gwinear Process Offices and Plant Workshop The mineral processing plant is fully permitted for construction. New mineral processing plant permitted for construction All information ©Corni
Slide 39: South Crofty resource & PEA info
Cornish Metals Inc Corporate Presentation South Crofty resource & PEA info New NI 43-101 Resource Estimate published, April 19, 2016 (figures below are for the tin-only Lower Mine Resource): • Indicated: 1.66Mt @ 1.81% Sn The PEA was prepared by P&E Mining Consultants Inc. • Inferred: 0.74Mt @ 1.91%
Slide 40: South Crofty comparables & potential
Cornish Metals Inc Corporate Presentation South Crofty comparables & potential Grade comparison with other tin projects South Crofty – additional potential Company Project Country M&I tonnes Grade East of Great Crosscourse Tonnage potential Alphamin Resources Bisie DRC 4,320,000 4.61% Dolcoath Main
Slide 41: South Crofty infrastructure
Cornish Metals Inc Corporate Presentation South Crofty infrastructure Significant infrastructure for future operations still intact Usable shafts (for ventilation and hoisting to a sub-level with connection to decline). • Williams : 915m deep, 5.8m dia. • Roskear: 610m deep, 4.9m dia. • New Cooks Ki