Mr. Kevin Brewer reports

CMC METALS LTD. ANNOUNCES PROPOSED AMENDMENT OF WARRANTS

CMC Metals Ltd. will make an application to the TSX Venture Exchange to extend the expiry date of 1,942,014 share purchase warrants, originally granted Oct. 12, 2022, to Oct. 13, 2025, and to amend the exercise price from 20 cents to seven cents, subject to the consent of the warrantholders. Each amended warrant is exercisable into one common share of the company and will be subject to an acceleration clause such that the exercise period of the warrants will be reduced to 30 days, if, for any 10 consecutive trading days during the unexpired term of the warrant (the premium trading days), the closing price of the listed shares exceeds the exercise price of the warrants by 25 per cent or more and the reduced exercise period of 30 days will begin no more than seven calendar days after the 10th premium trading day.

The company is pursuing approval of the terms of the amended warrants from holders of warrants that have an expiry date of Oct. 13, 2024, granted pursuant to the private placement announced Sept. 6, 2022. If you are a warrantholder, you are urged to contact the company by e-mail to kbrewer80@hotmail.com immediately to provide approval of the amended warrants as a part of the approval requirements from the TSX-V.

The proposed extension and repricing of the warrants is conditional also upon the receipt of approval from the TSX-V.

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. The company's polymetallic silver-lead-zinc CRD (carbonate replacement deposit) prospects in the Rancheria silver district include the Silver Hart deposit and Blue Heaven claims (Yukon) as well as the 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).

We seek Safe Harbor.