VANCOUVER - CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(CMCXF:OTCQB) ('CMC' or the 'Company') is pleased to announce that the Company has completed a detailed review of over 4 decades of historical and recent exploration data on its Silverknife Property that has resulted in the identification of four large zones with significant exploration potential.

The review was completed by CMC's Project Geologist Cesar Symonds along with Company President and Chief Geoscientist, Kevin Brewer.

The Silverknife Property is located immediately west of Coeur Mining Inc. very high-grade silver-lead-zinc-critical minerals carbonate replacement deposit (i.e the 'Silvertip mine') located in the emerging Rancheria Silver District in north-central British Columbia. CMC has only conducted preliminary exploration at the Silverknife Property and intends to focus future exploration efforts on the property. The company will also continue to advance exploration and evaluation of the Amy and Silver Hart properties in the Rancheria Silver District when market conditions improve.

Mr. John Bossio, Chairman of the Company noted 'Silverknife is a property with significant exploration merit and now that we have secured 100% ownership we are working diligently to secure a strategic partner to advance an aggressive exploration program. We remain very committed to all of our projects in the emerging Rancheria Silver District.'

Mr. Kevin Brewer, P.Geo. and President and CEO of the Company noted that 'Our in-depth analysis of the data produced some highly positive results. That work truly demonstrated to us the vast exploration potential encompassing a majority of the property area. We accomplished a lot in 2023 including the establishment of a 20 person modern camp facility, confirmation of the Cassiar instrusive, and identification of significant fault structures and mineralization in the Silverknife Prospect Zone. This hard work has culminated in the generation of a very detailed exploration plan which we now plan to implement. We expect to focus initial work efforts in the Tootsee North and Silverknife South and a description of the positive features of these areas is further described. I look forward to a very successful 2024 exploration season at Silverknife.'

Overall Potential

The overall exploration potential is considered to be high at the Silverknife Project.

As previously noted, the Silverknife property is located immediately adjacent to the west of the Silvertip Mine owned by Coeur Mining Inc. Silvertip is one of the highest-grade silver-lead-zinc CRD's in the world and Coeur have achieved spectacular results from recent exploration efforts at Silvertip.

Being proximal to a deposit like Silvertip is important as CRD deposits tend to form in clusters and along structural corridors with regional targets based on a 'hub and spoke' model. Silverknife is located along one of the potential 'spokes' or structural corridors. Other positive aspects of Silverknife include the presence of the host rock to Silvertip, the McDame limestone, found in outcrops in both the northernmost and southernmost portions of the Silverknife property, positive geochemistry, and a non-compliant historic resource with reported high grades in drill intersections at Silverknife Prospect.

Limited mapping and exploration activity of these areas has been conducted to date by previous explorationists and CMC. These areas all merit considerably more exploration. Required work will include, but may not be limited to, geochemical sampling, detailed geological/structural mapping, and ground geophysics. These techniques will serve to target possible faults which are prime areas for mineralization and/or the presence of sulfides with the expected result to be numerous drill targets.

Zones with Exploration Potential at Silverknife

CMC has highlighted four target zones on the property, all of which require considerable exploration to truly evaluate their potential. These are detailed in the following sections.

Tootsee North: Interest in this zone stems from: The defined presence of McDame Limestone in outcrops

A large coincident gravity-conductivity anomaly

Proximity to the Cassiar intrusive - a potential heat source to enhance the movement of mineralizing fluids into the overlying McDame limestone

Likely presence of faults which present possible conduits for fluid movements

Work required in this area includes the completion of road access, grid establishment and line cutting, Induced Polarization, VLF and possibly CSMAT geophysical studies, trenching (if possible), and geochemical sampling to pinpoint drill targets.

Central Zone: Interest in this zone stems from: A large and strong EM conductivity anomaly that is oriented northeastwards and extends across the entire property from the western boundary to the eastern boundary

Significant and areally large silver, lead and zinc geochemical anomalies within incised valleys that to date have no identified source. Potential sources include possible mineralization upslope from the Tapioca sediments (primarily limestones and sandstones) or sources at depth (potentially the Kechika/Atan Group sediments which are known to be mineralized elsewhere in the belt) possible large NW oriented fault structures that are now represented by incised creeks which could be conduits for mineralization

These anomalies also demonstrated a possible zonational pattern which would be consistent with CRD mineralization

Proximity to the Cassiar intrusive - a potential heat source to enhance the movement of mineralizing fluids into the local sediments

Work in this area proposed will include detailed geological and structural mapping, and wherever possible IP, VLF and CSMAT geophysical surveys. The area is topographically challenging in the upper parts of the geochemical anomalous areas.

Silverknife South: Interest in this zone stems from: Complex fault structures with multiple orientations cutting through McDame and Tapioca Group sediments present possible conduits for mineralization

Identified outcrops of McDame limestone

Hydrothermal and iron oxide alteration zones

Large dyke complex

Immediately north of Coeur's

This is one of the least known areas of the property to date. It requires detailed geological/structural mapping, geochemical sampling and possible IP, VLF and CSMAT geophysical surveys to pinpoint drill targets.

Silverknife Prospect: Interest in this zone stems from: Identified high grade silver-lead-zinc drill intersections in historical drilling

Evidence of faulting presenting possible conduits for mineralization, with recently defined fault structures from the 2023 drilling campaign

Known targets yet to be drilled as the 2023 drill program was limited to approximately 1,400 meters of drilling which is a small program

Geochemical anomalies

A conductivity anomaly identified from the airborne survey

Proximity to the Cassiar intrusive - a potential heat source to enhance the movement of mineralizing fluids into the local sediments

Drill modelling showing that further potential for expansion of a historical resource remains open along strike and at depth

Despite minimal success in the 2023 drilling in this area, only a small area of the Silverknife Prospect was covered and opportunities remain to expand non 43-101 compliant historical resources in this area. Further proposed work includes possible IP, VLF and CSMAT geophysical surveys to pinpoint drill targets.

The Future Outlook

Our hope is to make a significant discovery of a CRD/Skarn deposit at Silverknife in the near future. Our short-term plan is to secure a strategic partner for the project likely in an earn-in arrangement. With a discovery at Silverknife, or on one of other properties in the Rancheria Silver District, our plan would be to advance drilling and resource definition at a rapid pace to eventually enable the completion of a preliminary economic assessment of the project.

This will enable CMC to also secure project investment which it will utilize on this project and also serve to advance the Amy and Silver Hart projects that also merit additional exploration. CMC is looking to option the Logjam (Yukon) and Bridal Veil (Newfoundland) projects and will consider a range of alternatives to advance all of its projects in the near future.

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in British Columbia, Yukon and Newfoundland. Our flagship project is the Silverknife Property in the emerging Rancheria Silver District. Other projects in this District include the Amy project (British Columbia) and the Silver Hart Deposit/Blue Heaven claims (Yukon). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (Newfoundland) and Logjam (Yukon), both of which are available for option.

Contact:

Kevin Brewer

P. Geo.

President, CEO and Director

Tel: (+52) 669 198 8503

Email: kbrewer80@hotmail.com

(C) 2024 Electronic News Publishing, source ENP Newswire