Mr. Kevin Brewer reports

CMC METALS LTD. COMPLETES A SIGNIFICANT RECLAMATION PROGRAM AND DISCOVERS THREE MANTO ZONES AT ITS SILVER HART PROJECT, YUKON, CANADA

CMC Metals Ltd. has completed a significant reclamation program on its Silver Hart and Blue Heaven claims in Yukon, Canada. While supervising the reclamation effort, the company's chief geologist and president discovered three manto zones within the Main zone at Silver Hart and identified additional areas of interest on the Blue Heaven claims all of which merit further investigation. Several grab samples were collected and have been sent for assaying.

The program completed reclamation of trenches, historical and recent access roads, drill pads in both claim areas (in example, Silver Hart and Blue Heaven) of the Silver Hart project. It is also important as it serves to ensure that the surety bond with Yukon is at a sufficient level.

Kevin Brewer, PGeo, president and chief executive officer, noted that: "This reclamation work is of considerable importance in meeting permit requirements and demonstrating social responsibility in our work programs. Every year we have completed progressive reclamation of historical work areas dating back to the mid 1980s and recent activities. While supervising the effort I had some time to scout around and as a result identified three new manto zones which have never been drill investigated. We now have several drill target areas including (i) within the Main zone on the Silver Hart claims that require infill drilling that could result in extensions of known mineralization; (ii) the Golden Cross area on the Blue Heaven claims which had highly positive trench results that appear to indicate the existence of staked manto horizons in that area; and (iii) recent discoveries of new mantos on surface."

Mr. Brewer added that, "This indicates that to me that clearly the full potential for CRD mineralization at this project is yet to be fully identified."

As recently announced, the company has selected MICON International to complete a new National Instrument 43-101-compliant mineral resource estimate of the Main zone on the Silver Hart claims which currently has mineralization identified in several zones that may be amenable to open pit mining.

In addition, the Blue Heaven property comprises 118 claims (1,975 hectares) that are contiguous to the company's Silver Hart claims and is characterized with 13 mineralized areas and 36 showings many of which are yet to be evaluated by the company.

A brief program in 2022 extended previous trenching at the Desire showing (subsequently renamed as the Golden Cross zone) with highly positive results including:

• 8.0 metres grading 13.39 per cent lead, 1.57 per cent zinc, 359.25 grams per tonne silver and 1.17 per cent manganese including 1.0 metre of 10 per cent lead, 5.1 per cent zinc, 1,500 g/t silver and 2.3 per cent manganese;
• 13.0 metres grading 8.25 per cent lead, 4.22 per cent zinc, 151.57 g/t silver and 9.16 per cent manganese including 1.0 metre of 23.86 per cent lead, 0.9 per cent zinc, 623 g/t silver and 2.3 per cent manganese;
• A 14.0-metre mineralized area including 1.0-metre samples containing:
  • 3.61 per cent lead, 3.1 per cent zinc, 199 g/t silver 12.6 per cent manganese;
  • 10 per cent lead, 2.5 per cent zinc, 360 g/t silver and 3.7 per cent manganese;
  • 10 per cent lead, 8.5 per cent zinc, 459 g/t silver and 1.6 per cent manganese.
• Several other 1.0-metre length individual samples containing:
  • 49.8 per cent lead, 3.7 per cent zinc, 857 g/t silver and 5.7 per cent manganese;
  • 13.4 per cent lead, 5.6 per cent zinc, 167 g/t silver and 10.5 per cent manganese;
  • 59.46 per cent lead, 1.8 per cent zinc, 1,076 g/t silver and 3.2 per cent manganese;
  • 21.01 per cent lead, 1.1 per cent zinc, 820 g/t silver and 1.4 per cent manganese;
  • 16.53 per cent lead, 0.3 per cent zinc, 425 g/t silver and 0.7 per cent manganese;
  • 64.56 per cent lead, 5.6 per cent zinc, greater than 1,500g/t silver and 2.3 per cent manganese;
  • 29.26 per cent lead, 0.7 per cent zinc, 1,295 g/t silver and 0.5 per cent manganese.

The area around the Golden Cross zone is also characterized by several outcrops with extensive manganese which has been found to be indicative of silver-lead-zinc CRD-style mineralization on the Silver Hart property. These areas will be further evaluated with trenching and detailed mapping once an exploration permit has been secured for the property

In addition, a bulk sample collected by Nordac Resources Ltd. in 1999 from the Blue and H zones within the Blue Heaven claims comprised 51.47 dry tonnes grading 8,563 g/t silver, 56.2 per cent lead, 9.5 per cent zinc and 1.2 g/t gold.

A recent in-depth analysis completed by Ronacher-McKenzie Geosciences on the 2021 SkyTEM airborne electromagnetic survey identified four areas of exploration prospectivity within the Silver Hart project areas that were deemed to merit detailed evaluation.

A permit application including a renewal for exploration on the Silver Hart and Blue Heaven claims submitted to the Yukon Environmental and Assessment Board has reached the final review stage. The company is optimistic that a permit will be acquired prior to the 2025 field season. CMC wholly owns (100 per cent) the Silver Hart claims and has recently acquired an 80-per-cent interest in the Blue Heaven claims with the remaining 20 per cent owned by Strategic Metals Ltd.

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 is a growth-stage exploration company focused on opportunities for high-grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Its polymetallic silver-lead-zinc CRD prospects in the Rancheria silver district include the Silver Hart deposit and Blue Heaven claims (Yukon), Amy, and Silverknife claims (British Columbia). The company's polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon).

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