12:24 PM EDT, 03/15/2024 (MT Newswires) -- Cornish Metals Inc. ( SBWFF ) , announced Friday the departure of Chief Executive Officer, Richard Williams, effective March 31, 2024, when he will also leave the company's board.

Williams will remain available to the company on a consulting basis going forward.

Ken Armstrong, Non-Executive Director, will step in as Interim CEO and Patrick Anderson, Chairman of the Board, will become the Executive Chairman of the company during the transition and search for a permanent CEO to lead the company through the next stage of development of South Crofty as the company moves towards construction.

"On behalf of the Board of Directors I want to thank Richard for the many achievements he made and obstacles overcome to bring the company and the South Crofty Tin Project to where it is today," said Patrick Anderson, Chairman of the Board of Directors, in a statement.

Ken Armstrong, incoming Interim CEO, said in a statement: "Along with the Cornish Metals' ( SBWFF ) Board and major shareholders, I look forward to supporting the team at South Crofty as they continue advancing the South Crofty Project to a construction decision. In the short term, we will remain focused on delivery of a Preliminary Economic Assessment of the Project in Q2 2024 and continued mine dewatering through, and safe refurbishment of, the New Cooks Kitchen shaft."