First Tin PLC Critical metals grant from the NSW Government (6699H)

TIDM1SN

RNS Number : 6699H

First Tin PLC

28 November 2022

28 November 2022

First Tin Plc

("First Tin" or "the Company")

Receipt of critical metals grant from the NSW Government

First Tin Plc ("First Tin"), a tin development company with advanced, low capex projects in Germany and Australia, is pleased to announce that Taronga Mines Pty Ltd ("TMPL"), an Australian registered, 100% owned subsidiary of First Tin Plc ("First Tin"), has been awarded a grant of up to A$494,038 by the Government of New South Wales ("NSW Government") in Australia under its Critical Minerals and High-Tech Metals Activation Fund ("Fund"). The grant is a co-contribution for TMPL's NSW based Taronga tin project and was announced by the NSW Deputy Premier, The Hon Paul Toole MP, on Monday 21(st) November 2022.

The project involves four modules:

1. Innovative Processing Techniques: This includes mineral processing testwork on a bulk sample of Taronga tin mineralisation collected earlier this year. This will be conducted at ALS in Perth and Burnie and will be overseen by consultants Mincore and DFM.

2. Mineral Processing Plant Design and Costing: This will build on Module 1 and will result in design and costing of the mineral processing facility based on the flowsheet developed for Taronga in Module 1. Work will be undertaken by consultants Mincore and DFM.

3. Low-Cost Green Power Options: This will examine ways to reduce power costs by using low carbon alternatives. In particular, details of establishing a solar farm on the Company's large landholdings in the district will be designed and costed.

4. On Site Smelting Option: This will include a detailed study into the viability of building a smelting facility as part of the project. If successful, this could result in an end product of either tin ingots or solder bars being produced in NSW rather than simply exporting a tin concentrate for treatment offshore.

These modules will collectively advance the Taronga tin project toward completion of a definitive feasibility study.

First Tin CEO Thomas Buenger said, "We are delighted to announce that we have been awarded this significant grant by the NSW Government. It further demonstrates the support and commitment we have from the Government and will help fund the ongoing feasibility studies on this important tin deposit."

Enquiries:

 
 First Tin                                 Via SEC Newgate 
                                            below 
 Thomas Buenger - Chief Executive 
  Officer 
 Arlington Group Asset Management 
  Limited (Financial Advisor and Joint 
  Broker) 
 Simon Catt                                020 7389 5016 
 
 WH Ireland Limited (Joint Broker) 
 Harry Ansell                              020 7220 1670 
 
 SEC Newgate (Financial Communications) 
 Elisabeth Cowell / Axaule Shukanayeva 
  / 
  Molly Gretton                            07900 248 213 
 

Notes to Editors

First Tin is an ethical, reliable, and sustainable tin production company led by a team of renowned tin specialists. The Company is focused on becoming a tin supplier in conflict-free, low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.

Tin is a critical metal, vital in any plan to decarbonise and electrify the world, yet Europe has very little supply. Rising demand, together with shortages, is expected to lead tin to experience sustained deficit markets for the foreseeable future. Its assets have been de-risked significantly, with extensive work undertaken to date.

First Tin's goal is to use best-in-class environmental standards to bring two tin mines into production in three years, providing provenance of supply to support the current global clean energy and technological revolutions.

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November 28, 2022 02:00 ET (07:00 GMT)