CMC Signs Drill Contract for Its Silver Hart Project, Yukon

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(CMCXF:OTC PINK) ("CMC" or the "Company") is pleased to announce that the Company has closed a non-brokered private placement (the "Offering") for gross proceeds of C$3,151,780.18 from the sale of 13,761,998 non-flow-through units of the Company (each, a "NFT Unit") and the sale of 6,396,944 flow-through units of the Company (each, a "FT Unit

Each FT and NFT Unit consists of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one transferable share purchase warrant (each full warrant, a "Warrant"). Each Full Warrant entitles the holder thereof to acquire one common share of the Company (each, a "Warrant Share") at a price of C$0.20 per Warrant Share on or before April 19, 2024. The FT, NFT and Warrant Shares will be subject to a hold period ending on August 20, 2022.

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCXF) ("CMC" or the "Company") is pleased to announce that Intelligent Exploration ("IE') has completed a detailed interpretation of the SkyTEM airborne geophysical survey that recommends drill testing of Targets T-1 and T-4 at its flagship Silver Hart Project, south-central Yukon. Dr. Chris Hale and John Gilliatt of IE have recommended an initial 5,000-meter drill program to provide up to three drill holes on sections spaced 100 meters apart over each conductor

Figure 1: Total Magnetic Intensity ("TMI") Map: The magnetic data divide the Silver Hart and Blue Heaven properties into areas of higher TMI (likely underlain by intrusive rocks - Cassiar Batholith) and low TMI (indicated by green and blue colors - likely sedimentary rocks. Note that that SkyTEM Targets T-1 and T-4 occur within the lower TMI areas (sedimentary domains), at or near the Batholith contact.

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCXF) ("CMC" or the "Company") is pleased to announce that ground magnetometer surveys have commenced on its Newfoundland properties in the Gander Zone. McKeown Exploration Services Ltd. of St. John's Newfoundland have been contracted to conduct approximately 210-line kilometers of ground magnetometer surveys on the Bridal Veil Property (approximately 155-line kilometers); Terra Nova (approximately 35-line kilometers) and Rodney Pond (approximately 20-line kilometers). Data will be collected over the next four weeks and then interpreted by Dr. Chris Hale and John Gilliatt of Intelligent Exploration Services. Dr Hale is on the advisory board of CMC Metals Ltd. and is responsible for the design and interpretation of all geophysical surveys completed by the Company

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINKS:CMCZF) ("CMC" or the "Company") is pleased to announce that it has completed filing for exploration applications for the Amy and Silverknife projects. The permits include a wide range of proposed exploration activities on both properties including but not limited to geophysical and geochemical surveys, access road upgrading, new trailroad development, drill and clearing pad construction and drilling. The permits are filed with the Ministry of Energy, Mines and Petroleum Resources, Government of British Columbia and permit reviews for multi-year permits of this nature typically take in the range of 4-6 months to complete

At Silverknife, in the southern part of the property, our intent is to conduct geological mapping and prospecting to determine the extent of specific prospective geological units that are known to host the Silvertip Mine owned by Coeur Mining Ltd. The results of those efforts will guide decisions on advanced exploration in that area of the Property. However, most of the proposed exploration is planned to take place in the northern part of the Property to follow up on four known geochemical anomalies in that area and possible extensions of the existing Silverknife prospect identified by the 2021 SkyTEM airborne geophysical survey. A gravity survey will be initiated as soon as spring conditions allow, and the results of that survey are then expected to guide drill site selection. The Silverknife Prospect is located directly on the western boundary of the Silvertip Mining claims and the mine and mill are located approximately 1 km east-southeast of the Prospect.

CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCZF) ("CMC" or the "Company") is pleased to announce that it has acquired an option to earn up to a 100 percent working interest in the Rodney Pond Property in the highly prospective Gander Subzone in Central Newfoundland, subject to an option agreement (the "Agreement") with Nancy, Stephen and Larry Rogers (the "Prospectors") of Hare Bay, Newfoundland. Terms of the option agreement are subject to TSX Venture Exchange approval

Pursuant to the terms of the Agreement, the Company will pay $10,000 (CDN) and 50,000 common shares of CMC Metals Ltd. upon Execution of the Agreement and additional payments will be made on the first anniversary and in the following years to the Prospectors as follows: