Mr. Kevin Brewer reports

CMC METALS LTD. OPTIONS THE SILVERKNIFE PROPERTY TO COEUR MINING, INC.

CMC Metals Ltd. has entered into an option agreement with Coeur Silvertip Holdings Ltd., a subsidiary of Coeur Mining Inc., on its Silverknife property in northern-central British Columbia.

The agreement paves the way forward for Coeur to undertake a significant, multiyear exploration program on the property. The agreement provides Coeur with the ability to earn a 75-per-cent interest in the property, following which Coeur has a right to either purchase the property or enter a joint venture arrangement with CMC. The total commitments to earn 75 per cent amount to $4.05-million in the aggregate, of which $500,000 is cash payments to CMC and $3.55-million is exploration expenditures. Purchase of the remaining 25-per-cent interest would require an additional buyout payment that would take the aggregate commitment to $6.3-million, and the property would remain subject to an existing net smelter return royalty. The agreement contains the commitments as shown in the attached table.

Once Coeur has completed the expenditure and option payment commitments to earn at least a 75-per-cent interest in the property, it then also acquires:

• A right of first refusal to purchase CMC's Amy property, a high-grade carbonate replacement deposit (CRD) target located approximately six kilometres west of the Silverknife property;
• Any expenditures made by Coeur in excess of $3.55-million up to Dec. 31, 2028, will be credited toward Coeur's right to a buyout or, if no buyout is exercised, to Coeur's account to increase its interest in the joint venture;
• Two distinct buyout options for the remaining 25-per-cent interest:
  • Buyout payment: Within 60 days of earning its 75-per-cent interest, Coeur has the right to buy out CMC's remaining interest by paying $2.25-million.
  • Joint venture: If Coeur does not exercise the buyout payment option, then the parties will establish a joint venture that will finance the continuing operations according to their proportionate interests. Coeur will have the right to increase its interest in the joint venture, earning an additional 0.5-per-cent interest for every $100,000 spent on expenditures, up to a maximum of 90 per cent of CMC's remaining interest, provided these additional expenditures occur before Dec. 31, 2030. Coeur may, at its discretion, purchase the remaining interest from CMC for $3-million subject to certain additional conditions.

CMC retained its right to purchase an existing 1-per-cent NSR royalty on the property.

The complete definitive agreement will be posted on CMC's website.

Kevin Brewer, president, chief executive officer and director of CMC, noted: "This agreement is very significant and a game changer for our company. It confirms that we are on the right track towards identifying high-grade CRD prospects of significant interest within the Rancheria silver district. We are extremely pleased to attract Coeur, a top-tier precious metals producer, to commit to a significant program at Silverknife and also signal a potential interest in the Amy property. This agreement solidifies our positive working relationship with Coeur Mining and we continue to see a very bright future for further exploration and development in the Rancheria silver district."

Aoife McGrath, senior vice-president of exploration for Coeur, noted: "Coeur is very pleased with the signing of this agreement that fills a gap in the current Silvertip land package, ensuring we have a fully contiguous set of claims over this highly prospective belt. We believe mineralization styles are similar to those found at Silvertip and expect to include an exploration program over the property in our 2025 plans. We look forward to continuing the exploration programs initiated by CMC."

Coeur will now be the project operator and is currently compiling the data from previous programs and planning to undertake additional airborne geophysical surveys in the foreseeable future. Exploration efforts are expected to continue to target identifying polymetallic mineralization that management believes may be similar to that found at Coeur's Silvertip mine, located within one kilometre east of the Silverknife property. Coeur's mining claims and the Silverknife property are contiguous. Coeur has indicated it will undertake a detailed review of all historical and current data and from that determine future exploration activities on the property. Once this program has been defined, relevant details will be communicated to investors and shareholders. A five-year exploration permit is in place for the property, expiring on March 31, 2028.

Since 2022, CMC has completed a SkyTEM geophysical survey, two ground gravity geophysical surveys and a 2,146.3-metre drill program. Key intersections include hole SKP 23-06: 0.5 metre of 881 grams per tonne silver, 5,060 grams per tonne lead, 1,500 grams per tonne zinc and 1,335 grams per tonne copper; and hole SKP 2P 23-07 with 3.91 metres grading 0.73 gram per tonne gold and 17.63 grams per tonne silver and another 1.6-metre interval grading 9,079.7 grams per tonne zinc. This work served to identify four primary CRD targets on the property (see press releases of March 20, 2024, and April 15, 2024). Exploration at Silverknife is targeting high-grade silver-lead-zinc CRDs, which management believes may be similar to that found at Coeur's Silvertip mine. At Silverknife, CRD mineralization was identified in drilling campaigns (47 diamond drill holes; 4,167.1 metres) during the mid-1980s at the Silverknife prospect, which extends west by less than one kilometre from the Silvertip mine. Key intersections included hole 85-4: 7.25 m of 5.04 ounces per ton silver, 2.65 per cent lead and 3.09 per cent zinc; hole 85-6: 0.2 metre of 4.43 ounces per ton silver, 1.9 per cent lead and 3.42 per cent zinc; hole 85-21: 4.3 metres of 29.02 ounces per ton silver, 10.14 per cent lead and 7.02 per cent zinc. Other work included extensive ground geophysical programs (very low frequency/electromagnetic and induced polarization -- 30.3 line kilometres), over 2,000 soil samples, and prospecting and mapping.

Qualified person

Kevin 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 British Columbia, Yukon and Newfoundland. The company's flagship project is the Amy property in the emerging Rancheria silver district. Other projects in this district include the Silverknife project (British Columbia) and the Silver Hart deposit/Blue Heaven claims (Yukon). The company's polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (Newfoundland) and Logjam (Yukon), both of which are available for option.

We seek Safe Harbor.