Consolidated Tin Mines Limited ('CSD' and 'the Company') advises that the Company is in discussions with its auditors, KPMG, for the completion of the outstanding 31 December 2019 half yearly review and 30 June 2020 audited accounts.

The delay in lodgement is substantially due to KPMG's concerns regarding the Company future funding requirements and cash flows, exacerbated by the decline in commodity prices at the beginning of the year and then followed by the COVID-19 difficulties.

The Company is in discussions with various parties to recapitalise the Company and provide funding for the Auctus acquisition. A recapitalisation of the Company will resolve KPMG's concerns allowing completion of the audited financials.

Assuming all information is available and conditions are met by the Company, the Company is targeting lodgement of the outstanding accounts in December 2020. This announcement was authorised by the board of directors of CSD.

Contact:

Tel: +61 (0) 2 9048 9888

Fax: +61 (0) 7 4027 9429

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