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CMC Announces the Commencement of Exploration and Pre-Development Work at Silver Hart with $240,000 of Funding Support from Yukon

June 23, 2020

Vancouver, BC.: CMC Metals Ltd. - (“CMC” and/or the “Company”) (TSX-V: CMB) is pleased to announce the commencement of its 2020 exploration and pre-development work program at its flagship Silver Hart Project in Yukon, Canada (the “Property”).

CMC received two grants to support its efforts this year. The Company was awarded $40,000 in funding from the Yukon Mineral Exploration Program which will support various exploration projects. It was also approved for $200,000 from the Yukon Resource Access Road Program that will be used to initiate the upgrading of the access road to the project site.

The 2020 exploration program has now commenced with a crew currently on the Property. The overall objective of the program is to identify targets to expand the resource and collect the necessary data and information to support a project application to develop a seasonal mine at Silver Hart by 2022-23. Silver Hart comprises of a high grade silver-lead-zinc veins and carbonate replacement style deposits which are known to host significant deposits in major silver mining districts such as the Coeur D’Alene area in Idaho, USA.

Kevin Brewer, President and CEO noted, “2020 is expected to be another exciting year for CMC as we follow up on the excellent results we achieved in our program in 2019. Extensive review and analysis performed in the off-season has provided insight into the geological and structural framework of targets at Silver Hart and led to optioning the adjacent Blue Heaven property.”

Highlights include:

  • Completing the integration of historical drilling into our 3D Leapfrog model and reclogging historical core to update mineral resources within the known mineralized areas.
  • Completing new IP and VLF-EM geophysical surveys over all three zones to identify targets. Geophysical work will be focussed on identifying the potential for mineralization at depth within the Main Zone. To date drilling has only been conducted to depths of approximately 100 meters and all known mineralized areas within the Main Zone remain open at depth.
  • Following up on the silver-lead-zinc anomalies identified in the KW and South zones in 2019. This work will include geochemical surveys to possibly further expand the zones and trenching on the anomalies to identify drill targets. 
  • Trenching and detailed sampling on previously identified VLF-EM targets which could indicate fault structures that are the primary targets for high grade silver-lead-zinc mineralization at Silver Hart.
  • Metallurgical, detailed environmental and engineering studies to help prepare the open pit mine plan for the Main Zone that will contribute to the development of a project application for permitting.

The planned work presents a significant opportunity for CMC to expand identified resources at Silver Hart. CMC has doubled its land holding of a highly prospective carbonate replacement style belt in the Silver Hart area.

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.

CMC is a precious metals exploration and development company working in Yukon and is actively seeking other projects to acquire in its portfolio.

On behalf of the Board:

 “Michael C. Scholz”     
Michael C. Scholz, Director
CMC METALS LTD.

For further information concerning the CMC Metals Ltd., or its exploration projects, please contact:

Investor Inquiries: Kevin Brewer, P.Geo.
President, CEO and Director
Tel: (604) 605-0166
kbrewer80@hotmail.com

To be added to CMC’s news distribution list, please send an email to info@cmcmetals.ca or contact 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 may contain 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.”

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