First Tin PLC Announces Mineral Resource Estimate Upgrade at Taronga Tin Project in Australia

First Tin PLC has announced an updated Mineral Resource Estimate (MRE) for its Taronga Tin Project in Australia. The MRE, completed by independent geological consultants H&S Consultants Pty Ltd, shows a substantial 240% increase in size compared to the previous estimate in 2014. The updated MRE is reported using a 0.05% tin cut-off and includes a Measured Resource category for the first time. The increase in size is attributed to successful exploration drilling, a new geological interpretation, and a reconfigured grade interpolation technique. The CEO of First Tin, Thomas Buenger, expressed satisfaction with the increase in contained tin and the addition of the Measured Resource category, which provides further confidence in the MRE. The project is owned by First Tin's Australian subsidiary, Taronga Mines Pty Ltd.

The updated MRE shows the following estimates:
- Measured: 33.0 million tonnes at a grade of 0.13% Sn, containing 44,200 tonnes of tin
- Indicated: 38.9 million tonnes at a grade of 0.11% Sn, containing 42,000 tonnes of tin
- Inferred: 61.1 million tonnes at a grade of 0.09% Sn, containing 61,100 tonnes of tin
- Total: 133.0 million tonnes at a grade of 0.10% Sn, containing 138,300 tonnes of tin

The comparison with the 2014 MRE using a 0.10% Sn cut-off shows a 40% increase in total contained tin metal. The difference is primarily due to exploration drilling by First Tin, a new geological interpretation, and a reconfigured grade interpolation technique.

The updated MRE is based on revised economic considerations, including higher tin prices, lower exchange rates, and preliminary estimates of mining, processing, and G&A costs. The CEO of First Tin stated that the grade-tonnage curve shows the robustness of the MRE and the existence of significant tonnages of higher-grade material that will reduce risk due to changing tin prices.

First Tin is a tin development company focused on becoming a tin supplier in conflict-free, low political risk jurisdictions. The company aims to rapidly develop high-value, low capex tin assets in Germany and Australia. Tin is a critical metal in the decarbonization and electrification of the world, and Europe has a limited supply. First Tin's goal is to bring two tin mines into production in three years, supporting the global clean energy and technological revolutions.