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Cornish Metals Inc. (TSX-V / AIM: CUSN) (“Cornish Metals” or the “Company”) is pleased to report that it has received notice from Cornish Lithium Ltd (“CLL”) whereby CLL has elected to extend its option to explore the Company’s mineral rights in Cornwall, UK, for minerals-in-brine for a further 12 months.
Under the Exploration and Option Deed (the “Deed”) entered into by the Company and CLL in January 2017, CLL has chosen to extend the Deed for an additional 12-month period in consideration for the issuance to the Company of shares in the capital of CLL equal to US$100,000 based on CLL’s last share issue price. Upon receipt of the shares, the Company will own 6,713,940 shares of CL.