Cornish Metals Announces Proceeds of $670,400 from Exercise of Warrants

Cornish Metals Inc. (TSX-V: CUSN) (“Cornish Metals” or the “Company”) is pleased to announce that Barkerville Gold Mines (“Barkerville”), a wholly owned subsidiary of Osisko Development Corp (TSX-V:ODV), has exercised 9,577,143 previously issued common share purchase warrants for gross proceeds of $670,400 to the Company. Such warrants were issued pursuant to the Company’s private placement financing completed on February 3, 2020.

As a result of the exercise, Barkerville now owns 53,833,333 common shares of the Company, representing 35.97% of the issued capital Cornish Metals.

For additional information please contact:

In North America:
Irene Dorsman at (604) 210 8752 or Sherman Dahl of Pretium Communications at (250) 558 8340

In the UK and Europe:

Blytheweigh (Financial PR/IR-London)      Tel:                      +44 207 138 3204
                                                                      Tim Blythe          tim.blythe@blytheweigh.com
                                                                      Megan Ray         megan.ray@blytheweigh.com 

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.