CMC Announces Exploration Operations Have Commenced on Its Newfoundland Properties and the Appointment of a New Chief Geologist

Rhea-AI Summary

CMC Metals Ltd. has mobilized advance field crews for exploration projects in Newfoundland and is preparing to reopen access to the Silver Hart property in Yukon. The company announced the appointment of Brigido Campillo as Chief Geologist, bringing over 25 years of experience in mineral exploration. An aggressive exploration program is underway focusing on geological mapping and prospecting in Newfoundland, followed by advanced efforts at Silver Hart aimed at resource expansion. Key permits for exploration have been filed, ensuring compliance with regulatory requirements.

Positive

• Appointment of Brigido Campillo as Chief Geologist with over 25 years of experience.
• Initiation of the most aggressive exploration program in the company's history.
• Plans for geological mapping and prospecting on multiple properties, with a focus on resource expansion.

Negative

• Dependence on successful funding for ongoing exploration efforts.
• Potential delays due to regulatory approvals and conditions affected by the COVID-19 pandemic.

VANCOUVER, BC / ACCESSWIRE / May 10, 2022 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5N)(OTC PINK:CMCXF) ("CMC" or the "Company") is pleased to announce that advance field crews have been mobilized to our exploration projects in Newfoundland, Canada. In addition, the Company is working to reopen the access road to our flagship Silver Hart property in Yukon in advance preparations for crew mobilization in mid June.

The Company further wishes to announce that they have hired Mr. Brigido Campillo as Chief Geologist. Mr. Campillo has over 25 years of experience in mineral exploration and project management. He has worked in a senior capacity in numerous exploration and mine projects with companies including Vizsla Resources, Endeavour Silver Corp., Great Panther Silver, Orenex Silver Corp, Apex Silver Mines LDC, Monarca Minerals, Goldcorp and others. He has considerable experience in a broad range of deposit styles including extensive work in epithermal deposits (including veins, skarn and carbonate replacement style mineralization).

Mr. John Bossio, Chairperson noted, "We are pleased to initiate the most aggressive exploration program that CMC has ever attempted to undertake in the Company's history. This will be an exciting season for us, and we are confident that exploration efforts will enhance shareholder value."

Mr. Kevin Brewer, President and CEO stated: "We are extremely pleased to have Brigido join our team as he has a wealth of experience that is perfectly suited to our CRD/vein/skarn targets in Yukon/northern British Columbia. Brigido will utilize his first-hand knowledge to advance the understanding of mineralization at Silver Hart."

Mr. Brewer added, "We are launching an aggressive exploration program this season. Initially we are conducting a lot of geological mapping and prospecting activities on our early-stage Newfoundland properties namely Terra Nova, Bridal Veil and Rodney Pond. Our primary objective on these properties is to determine whether they warrant advanced exploration efforts. The crews will then be mobilized to Yukon in mid-June where advanced exploration efforts on Silver Hart are focussed on resource expansion. Also, at Amy and Silverknife we plan to advance both projects to drill ready stage. We have identified significant targets on all three projects. Permitting was filed in January for the properties in British Columbia and we will soon be initiating First Nations consultation efforts. Silver Hart is fully permitted."

Qualified Person

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). He has given his approval of the technical information pertaining 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 Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects include the Silver Hart Deposit and Blue Heaven claims (the "Silver Hart Project") and Rancheria South, Amy and Silverknife claims (the "Rancheria South Project"). Our polymetallic projects with potential for copper-silver-gold and other metals include Logjam (Yukon), Bridal Veil, Terra Nova and Rodney Pond (central Newfoundland).

On behalf of the Board:

"John Bossio"

John Bossio, Chairman
CMC METALS LTD.

For Further Information and Investor Inquiries:

Kevin Brewer, P. Geo., MBA, B.Sc. (Hons), Dip. Mine Eng.
President, CEO and Director
Tel : (709) 327 8013
kbrewer80@hotmail.com
Suite 615-800 Pender St.
Vancouver, BC
V6C 2V6

To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.

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 exploration 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, to carry out the work 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, the impact of the constantly evolving COVID-19 pandemic crisis 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."

SOURCE: CMC Metals Ltd.

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FAQ

What are the new exploration projects CMC Metals is working on?

CMC Metals is focusing on exploration projects in Newfoundland and the Silver Hart property in Yukon.

Who has been appointed as the new Chief Geologist for CMC Metals?

Brigido Campillo has been appointed as the new Chief Geologist, bringing extensive experience in mineral exploration.

What is the goal of CMC Metals' exploration program for this season?

The goal is to conduct geological mapping and advance exploration on several properties, including resource expansion at Silver Hart.

When will CMC Metals' exploration crews mobilize to Yukon?

The exploration crews for the Silver Hart property will be mobilized in mid-June.

What challenges might CMC Metals face in their exploration efforts?

Challenges may include regulatory approval delays and the impact of the COVID-19 pandemic on operations.