Mr. Kevin Brewer reports

CMC METALS LTD. ANNOUNCES CLARIFYING NEWS RELEASE

The TSX Venture Exchange has approved CMC Metals Ltd.'s request to extend the expiry date of 2,161,557 share purchase warrants, originally granted Sept. 27, 2022, to Sept. 27, 2025, and 1,942,014 share purchase warrants, originally granted Oct. 12, 2022, to Oct. 13, 2025.

The request to amend the exercise price from 20 cents to seven cents remains subject to TSX-V approval and 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 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 proposed repricing of the warrants is conditional also upon the receipt of approval from TSX Venture Exchange.

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 the Blue Heaven claims (Yukon), and 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.