CMC Announces an Update on the Silver Hart Project and Revision to the Terms of the Flow-Through Private Placement
Vancouver, BC.: CMC Metals Ltd. – (“the Company”) (TSX-V: CMB) wishes to announce that the 2019 Phase I field program at the Company’s Silver Hart project in south-central Yukon has commenced.
“Our field crews have completed upgrading of 38 kilometers of the 42 kilometer access road and drill crews will be mobilized into site next week. Our drill program will focus on two high grade zones TM and S zones which are slated for near term development. In addition, during this field season the Company will continue to gather baseline data to add to its extensive environmental database and advance further engineering studies to prepare for a project application for a seasonal mining operation at Silver Hart” stated Kevin Brewer, P.Geo, President and CEO of the Company. Mr. Brewer further states that “Silver Hart is a high grade silver project with considerable work done on it over the past 10 years and with the recent improvements of the silver price, we are highly optimistic that our plans to develop Silver Hart are timely.”
The Company further wishes to announce that it has revised the terms of its previously announced flow-through private placement to raise $525,000 by offering 7,000,000 flow-through common shares at $0.075 per flow-through common share, as announced pursuant to its July 3, 2019 press release, in that the price per flow-through share has been reduced to $0.065 for the issuance of 7,500,000 flow-through common shares to raise a total of $487,500. The remainder of the terms of this placement are unchanged. This transaction remains subject to regulatory approval.
About CMC Metals.
CMC Metals Ltd. is a mineral exploration company focused on opportunities in the United States and Canada that offers potential for near-term cash flow. The Company is led by a seasoned team with experience developing assets to production. The Company’s Silver Hart Property is a Silver-Lead-Zinc asset located in the Yukon, 132 km west of Watson Lake, and covers 2,200 hectares and 116 Contiguous and partial claims.
Mr. Kevin Brewer, P.Geo, President and CEO of CMC Metals Ltd. is a Qualified Person as defined by
National Instrument 43-101. Mr. Brewer supervised the preparation of the technical information contained in this release.
On behalf of the Board:
“Michael C. Scholz”
Michael Scholz, Director
CMC METALS LTD.
For more information and to be added to CMC’s news distribution list, please send an email to firstname.lastname@example.org or call Mr. Michael Scholz at 604-605-0166.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
“This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”