Publication of Prospectus and Notice of GM

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY.  THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF FIRST TIN PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. 

31 October 2024

First Tin PLC

("First Tin" or "the Company")

Publication of Prospectus

Notice of General Meeting

First Tin PLC (LSE: 1SN), a tin development company with advanced, low capex projects in Australia and Germany, is pleased to announce that, further to the conditional £8 million fundraise announced on 28 October 2024 (the "Fundraise"), the Company has today published a combined prospectus and circular (the "Prospectus") relating to the proposed issuance of 133,333,334 new ordinary shares ("Placing Shares") at a price of 6 pence per share (the "Issue Price").

The Fundraise is conditional, amongst other things, on the approval by Shareholders of resolutions to be proposed at a general meeting of the Company which is to be convened on 19 November 2024 (the "General Meeting") to approve the issue of the Placing Shares on a non pre-emptive basis (the "Resolutions"), the Admission of the Placing Shares and the Placing Agreement not having been terminated in accordance with its terms.  The Prospectus, containing details of the Fundraise and a notice of the General Meeting, will be posted to Shareholders today and will be available on the Company's website at: www.firsttin.com.

The Prospectus will also be available for inspection at the National Storage Mechanism at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

The General Meeting will be held at 9:00 a.m. on 19 November 2024 at the offices of First Tin PLC at First Floor, 47-48 Piccadilly, London W1J 0DT.

Subject (amongst other things) to all Resolutions being passed at the General Meeting, it is expected that Admission will become effective and dealings in the Placing Shares will commence on the Main Market at 8 a.m. on 20 November 2024.

Application will be made to the London Stock Exchange for the Placing Shares to be admitted to the Equity Shares (Transition) category the Financial Conduct Authority's Official List and to trading on the Main Market of the London Stock Exchange, assuming the conditions to the Placing are satisfied.

The proceeds from the Fundraising will be allocated across both assets as well as to fund the typical costs associated with being a listed company:

·      Taronga, Australia:

o  The majority of the funding will be allocated to the Taronga project, directed towards the compelling enhancement opportunities identified during the Definitive Feasibility Study, with the goal of increasing the project's Net Present Value  to approximately AUD 400 million and final permitting requirements.

o  Activities include the conversion of additional Inferred Resources through drilling of numerous in-pit and near-pit targets to enable a deeper, wider pit, testing of extensions and potential parallel zones, delivery of a revised Resource Estimate, process design and optimisation of pits, waste rock emplacements/co-disposal area, infrastructure, geotechnical designs and models, and continued Mineral Processing Testwork to confirm recent excellent recoveries announced.

o  Pit optimisations and subsequent detailed designs are currently based on the initial, far too conservative, average 54% recovery formula, but ongoing mineral processing test work has shown an average total recovery of 66.8% across high grade and low-grade samples.

o  Funds will also support activities related to completion of the Environmental Impact Statement for final permitting and early site works, preparing the project for future development and construction phases.

o  These activities have significant potential to create value upside and to extend the Life of Mine.

·      Tellerhäuser, Germany:

o  With the majority of funds being allocated in Australia, funds allocated in Germany will be used to support internal activities related to progressing permitting and related community engagement. Additionally, minimal fieldwork will be conducted to ensure the retention of the Exploration Licenses at Gottesberg and Auersberg.

Enquiries:

Notes to Editors

First Tin PLC 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, which have been de-risked significantly, with extensive work undertaken to date.

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.

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.