Consolidated Tin Mines Limited (ASX:CSD) (CSD or the Company) is pleased to announce that it has entered into an unsecured loan agreement (Loan Agreement) with 53.6% shareholder, Cyan Stone Pty Ltd (Cyan Stone).

Under the Loan Agreement, Cyan Stone has agreed to advance up to $30,000,000 to the Company which will be used to fund (i) the balance of the consideration payable in respect of the Auctus acquisition (being $16,800,000) (Auctus Acquisition), and (ii) for general working capital purposes which includes the provision of funds to bring Auctus back into production.

Settlement of Auctus Acquisition $16,800,000

Working Capital, including funds to bring Auctus back into production $13,200,000

TOTAL $30,000,000

The Loan Agreement is being provided on an unsecured basis over a three-year term at an interest rate of 6% pa. The material terms and conditions governing the Loan Agreement is summarised in the Appendix.

This new loan is in addition to an existing loan of $22 million from Cyan Stone which is currently drawn down to $17,529,644 with $4,470,356 currently available. The existing loan is to fund CSD existing operations only and separate to the new loan which is to provide funding for the Auctus acquisition only.

Announcing the major shareholder funding support package, Managing Director, Ralph De Lacey said: 'We are extremely pleased with the ongoing strong support that the Company's largest shareholder, Cyan Stone has shown in CSD and the Company's future.'

Update on lodgement of CSD Accounts

The company is working with Auditors KPMG to complete and lodge the company's December 31st 2019 Review and 30th June 2020 Audited Accounts on or before 26th February 2021

Contact:

Tel: +61 (0) 7 4032 3319

Forward looking statements

The forward-looking statements in this announcement are based on the Company's current expectations about future events. However, they are subject to known and unknown risks, uncertainties and assumptions, many of which are outside the control of the Company and the Directors, which could cause actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the forward-looking statements in this Announcement. Forward looking statements include those containing words such as 'anticipate', 'estimates', 'should', 'will', 'expects', 'plans' or similar expressions.

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