Response of Mr. Kevin Brewer, P. Geo, President & CEO of CMC Metals Ltd.

I agree with you that we should be seeing some improvement in the price with better silver prices … our share price generally does follow improvements in the silver price but does not follow gold, although indirectly most times gold goes up silver also follows.

Also we appear to have some selling a lot by “1 anonymous today”. That can be anyone and we have no control over that either. Shareholders can sell whatever stock they have at whatever price they desire. At this time of day the volume for us is a bit above average so there is some pressure from selling. We all sell stock at different times for different reasons and sometimes the selling is no reflection on activities within the Company.

Also the prices possibly reflect the price of our placement offering. We were advised by our financial advisors to price it a bit aggressively in a market that has been volatile as of late.

I expect we will see price improvements and I never really get too wrapped up in daily price fluctuations. GMM have targeting our price at 0.40 and given us a 3.50 rating…that is a very positive outlook that reflects our valuation.