Vancouver, BC.: CMC Metals Ltd. – (“the Company”) (TSX-V: CMB): wishes to retract disclosure of a non-compliant historical estimate of resource on the Logjam Property, Yukon, Canada, as disclosed in our November 20, 2019 press release.
This retraction is necessary as it will require further exploration work for the Company to appropriately determine the relevance and reliability of the non-complaint historical estimate.
The Company further wishes to announce that it has received TSX Venture Exchange approval by letter dated November 14, 2019, to its shares for debt settlement as announced pursuant to its January 15, 2019 and July 3, 2019 Press Releases, and issued 15,588,210 common shares to certain creditors at $0.07 per share, extinguishing $1,091,174.66 worth of liabilities. The shares for debt transaction will not result in a change of control.
Kevin Brewer, a registered professional geoscientist, is the Company’s President and CEO, and Qualified Person (as defined by National Instrument 43-101) who has directly supervised the 2019 exploration program, sampling efforts, quality assurance and quality controls, and the preparation of an approval of the technical information pertaining to the Logjam Project, Yukon reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
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 owns two properties in Yukon, including the Silver Hart Property 132 km west of Watson Lake, and covers 2,200 hectares and 116 contiguous and partial claims and the Logjam Property, described herein. CMC’s flagship property, Silver Hart, comprises of high grade silver-lead-zinc deposits. The Company also 100% owns a gold processing mill in Bishop, California, USA.
On behalf of the Board:
“Michael C. Scholz”
Michael C. Scholz, Director
CMC METALS LTD.
For more information and to be added to CMC’s news distribution list, please send an email to email@example.com or call Mr. Michael C. 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.”