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CMC Announces Private Placement to Raise Up to $1,200,000

VANCOUVER, BC / ACCESSWIRE / February 27, 2024 / CMC Metals Ltd. (TSX-V:CMB)(FRA:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to announce its intention to carry out a non-brokered private placement non-flow through units of the Company (each, a "Unit") at a price of $0.035 per Unit, for aggregate gross proceeds of up to $1,200,000 (the "Offering").

Each Unit will consist of one (1) common share of the Company and one (1) common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.05 per share for a period of 12 months from issuance.

The Company expects to use approximately 85% of the net proceeds (the "Net Proceeds") from the Offering to fund property expenses and exploration at the Gavilanes project in Durango, Mexico and/or its other exploration projects in Canada, and to use the remainder for general working capital, with less than 5% of the Net Proceeds used for Investor Relations Activities, as such term is defined in the policies of the TSX Venture Exchange (the "TSXV").

The Company may pay finders' fees comprised of cash and non-transferable warrants ("Finder's Warrants") in connection with the Offering, subject to compliance with the policies of the TSXV. Each Finder's Warrant will be exercisable into one common share of the Company at a price of $0.05 per share for 12 months from issuance. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Closing is subject to customary closing conditions including, but not limited to, the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSXV.

The securities being offered will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Mexico, Yukon, British Columbia and Newfoundland. Our new flagship project is the Gavilanes Silver-Gold Project, San Dimas District, Durango, Mexico. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silverknife and Amy projects (British Columbia) and the Silver Hart Deposit and Blue Heaven claims (Yukon). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (Newfoundland) and Logjam (Yukon).

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 1000-409 Granville St.
Vancouver, BC, V6C 1T2

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 Offering and the expected use of proceeds therefrom 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.sedarplus.ca. 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.