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News Releases

CMC Metals Ltd. Encounters Exceptional Silver Grades and Confirms Mineralization in a Significant New Zone at Silver Hart

October 16, 2019

Vancouver, BC.: CMC Metals Ltd. – (“the Company”) (TSX-V: CMB) is pleased to announce assay results from recent trenching on the TM zone at Silver Hart and the identification of mineralization in the new KW Zone at the Company’s 100% owned Silver Hart Project in Yukon, Canada.

Michael Scholz, Chairman of the Company noted, “We are extremely pleased with the initial results from our 2019 exploration program. The results will support our plans to conduct a bulk sample in the TM Zone in 2020. The identification of the new KW Zone also demonstrates the continued potential at Silver Hart which has not been explored extensively outside of the main zone or at depth within the main zone.”

Three trenches were completed on the TM Zone to evaluate near surface material for the planned bulk sample and determine whether grades of silver, lead and zinc existed within the footwall and hanging wall as past efforts have primarily focused on a narrow zone focused on the high grade veins (see Figure 1).

The results confirmed that reasonable silver grades and to a lesser degree lead and zinc values exist in both the hanging wall and footwall and support an attractive mineable width that will be further evaluated in the planned bulk sample.

Key highlights from recent trenching in the TM Zone:

Trench 1 (SHTR-TM-01): 10.2 metres grading 501.4 g/t silver, 6.34% lead, and 0.4% zinc including 5.2 metres grading 950.7 g/t silver, 12.4% lead and 0.64% zinc.

Trench 2 (SHTR-TM-02): 10.5 metres grading 898.4 g/t silver, 0.97% lead and 0.29% zinc including 5 metres grading 1,140 g/t silver, 0.84% lead and 0.32% zinc.

Trench 3 (SHTR-TM-03): This trench did not extend totally through the mineralized zone but provided 2 metres grading 537 g/t silver, 0.42% lead and 0.18% zinc.

Kevin Brewer, President and CEO notes, “These trench results potentially dispel the previous view of Silver Hart as comprising only of narrow high grade veins. Future exploration efforts will further examine mineralization within the hanging wall and footwall material and we will re-examine our extensive archived drill core material to test this potential next year. This is extremely positive for the project. In addition we are very excited with the identification of the new KW Zone which we have evaluated with a soil survey (results are pending) and confirmed mineralization from three grab samples on the northeastern end of the zone that assayed:

Sample KW-1: 67 g/t silver with 3.83% lead and 5.84% zinc

Sample KW-2: 18 g/t silver with 2.82% lead and 0.54% zinc

Sample KW-3: 174 g/t silver with 0.018% lead and 0.05% zinc

Grab samples from previously identified zones within the main zone have also further confirmed the presence of high grade silver mineralization in the upper part of the TM Zone and the S Zone (see Figure 2).

A grab sample from the upper northeastern end of the TM Zone assayed:

Sample TM upper-1: 7,260 g/t silver with 79.3% lead and 0.91% zinc.

Two grab samples obtained from the S Zone assayed:

Sample S-1: 5,733 g/t silver with 49.9% lead and 0.91% zinc

Sample S-2: 4,784 g/t silver with 74.4% lead and 4.2% zinc.

The Company plans to further evaluate the S Zone in the proposed 2020 bulk test sample.

Kevin Brewer added, “We further evaluated these areas with drill holes in the 2019 program and assays from good intersections of mineralization in these areas are pending and are expected to be available in the very near future. The 2019 program including drilling, trenching, soil sampling of two new potential zones testing historic VLF-EM anomalies, and prospecting efforts are expected to greatly improve our understanding of the extent of mineralization and the overall potential in the Silver Hart property that has never been properly evaluated with modern exploration techniques which will also include a review of the existing resource model to identify additional resources at depth. Silver Hart has only been drilled in a few holes to a depth of approximately 90 metres and remains open.”

Assays

Assays were completed by Bureau Veritas Mineral Laboratories Canada Ltd. and quality control and sampling supervision at Silver Hart was provided by Longford Exploration Services Ltd. of Vancouver, B.C. who are a fully independent geological consulting company.

Qualified Person

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 Silver Hart 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’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.

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 info@cmcmetals.ca 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.”

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