Mr. Kevin Brewer reports

CMC METALS LTD. IDENTIFIES DRILL TARGETS AT AMY AND COMPLETES MAPPING AND SAMPLING EFFORTS AT SILVERKNIFE IN PREPARATION FOR ITS PROPOSED 2025 DRILLING PROGRAM

CMC Metals Ltd. has completed a recent site visit at Amy, where drill targets were identified for the company's proposed 2025 drill program. In addition, CMC Metals' geological team has completed a detailed mapping and prospecting program on the Silverknife property.

Amy is a high-grade silver-lead-zinc CRD (carbonate replacement deposit) target located just eight kilometres to the west of Coeur Mining's Silvertip mine in north-central British Columbia and is 100 per cent owned by the company. Historically, the property has been subject to considerable exploration work, including two adits (4,450 and 4,200 levels) with over 700 metres of development, 300,000 line feet of geochemical and geophysical surveys, 31,000 cubic feet of trenching (in over 20 trenches), and 10,498 feet (3,200 metres) of drilling. At the 1,280-foot level, the historical adit was reported to have intersected 140 feet of highly mineralized vein material and a mineralized vein with over 10 metres in length and 1.2 metres in width that assayed 19.08 ounces per ton silver, 0.64 per cent lead and 7.78 per cent zinc. It is noted that the company and the qualified person have not been able to verify these historical results so they should not be relied upon in any manner.

In 2022, SRK completed a compilation of historical data for the company that included several episodes of exploration. That review served to identify a large geochemical anomaly over four kilometres in strike length and 500 metres to 1,300 metres in width immediately adjacent to a sediment-intrusive contact, which is an ideal setting for a CRD-style deposit. This large anomalous area is yet to be explored with modern exploration techniques. Recent mapping efforts by CMC have identified a massive sulphide mantle and several gossanous areas on surface just south of the 4,450-level portal location, which are thought to have been the target of historical drilling and adit development efforts. Samples were collected from the surface mantle as well as from the 4,450 dump and have been submitted for assaying. CMC is preparing a permit application for the property, which will include the reopening of former trenches (greater than 20) and an extensive drill program proposed for the 2025 season.

CMC Metals' geological team also completed a 1:2,500-scale mapping effort on the Silverknife Property. Areas that encountered alteration and gossanous zones were mapped in greater detail at 1:1,000 scale. The work was completed in co-operation with Coeur Mining Inc., which owns the adjacent Silvertip mine property. Mapping efforts in the Silverknife South zone identified the presence of fugitive calcite and zones of strong pervasive oxidation in sandstones of the Tapioca formation. Fugitive calcite is considered to be an indicator mineral for CRD deposition. Sandstones are typically not reactive and hence are often not altered. But, in the Silverknife South zone, they have been altered; this suggests that alteration may also occur in the underlying limestone units. Therefore, this presents a valid target for CRD mineralization. CMC Metals' senior geologist, Cesar Symonds, had the opportunity to present his findings to Dr. Peter Megaw, a renowned expert on CRD deposits, who urged the company to continue its current approach to exploration efforts on the Silverknife property. Mapping efforts also served to confirm the presence of limestone in the Tootsee North zone, which overlies the previously identified geophysical anomaly, presenting another favourable target for CRD mineralization. The property is already permitted for drilling and further work will be undertaken to pinpoint drill targets for drilling in the foreseeable future.

Kevin Brewer, PGeo, president and chief executive officer of the company, noted: "We are very excited with the continued positive results and advancement of our Amy and Silverknife properties. Our immediate plans are to finalize the plan for advanced exploration efforts, which we expect will include reopening of trenches, new trenches, drill road and pad development, drilling, and possibly other activities for current permitting efforts. We promised to take these projects to drill-ready stage, and we are close to achieving that objective. Both Amy and Silverknife have significant potential to host high-grade silver-lead-zinc carbonate replacement deposit(s)."

Qualified person

Mr. Brewer, a registered professional geoscientist, is the company's president and chief executive officer and a 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. The company's polymetallic silver-lead-zinc CRD prospects in the Rancheria silver district include the Silver Hart deposit and Blue Heaven claims (Yukon) and the Amy and Silverknife claims (British Columbia). CMC Metals' polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon). CMC also continues to have a significant holding in the Bishop mill gold processing facility, which is currently undergoing refurbishment and test processing by North Bay Resources Inc.

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