VANCOUVER, British Columbia, Jan. 15, 2025 (GLOBE NEWSWIRE) -- CMC Metals Ltd. (TSX-V: CMB) (Frankfurt:ZM5P) (“CMC” or the “Company”) is pleased to present a new vision for its future and a review of its success in 2024 (also see at www.cmcmetals.ca – CEO Corner – Updates from the CEO - “Hello Investors, January 2025 edition”). CMC performed very well in 2024 establishing deals that set a solid foundation for growth and shareholder value in 2025. We are implementing our mid-term strategy which we expect will result in us outperforming many micro-cap and small cap juniors in 2025. Our new vision is focused on creating cash flowing properties within our strong portfolio of silver-based exploration projects.
New Corporate Vision
Our new corporate vision is to establish cash flow producing operations that can support further investment in exploration and acquisition of high potential precious/critical metal assets in the Americans.
We plan to accomplish this vision by:
Within five years, establish operating and cash-flow producing entities based on the utilization of improved and evolving ore sorting technologies to produce high grade silver ores from deposits in the Rancheria Silver District (i.e., Silver Hart, Blue Heaven, Amy in BC/Yukon) that are environmentally friendly, amenable to small scale open pit operations with very low operating and capital costs, scaleable and growth oriented, highly manageable, and well suited to a partnership approach with local First Nations and communities in Yukon; and
Continuing to expand resources and exploration prospectivity on our existing properties to generate high value returns and saleable assets;
Acquiring new assets with strong exploration potential to continue our commitment to owning a diversified portfolio of precious metal projects that serve to support a pipeline approach of value generation; and,
Reducing dilution through a lower level of dependence on market financing.
Kevin Brewer, President and CEO noted “We are very proud of our success in 2024. We negotiated solid deals under challenging market conditions and with minimal expenditures completed project work. It is exciting to now be able to plan to drill at Amy and commence the execution of our plan for small-scale production at Silver Hart. Since its inception, CMA has always envisioned production at Silver Hart and we intend to prove up the economics and then proceed with a development plan in the medium term. We feel it is imperative to communicate our vision, create a series of short and medium term objectives, be transparent and honest about the challenges we face and then most importantly deliver on our promises. 2025 is going to be a very exciting year for our Company as we execute our new vision that we expect will enhance shareholder value.”
Plans for 2025
Drill Program at Amy: Application for an exploration permit will be filed before the end of January and will include a proposed drilling program to be commenced in Q3/Q4 2025. Initial targets will include verifying historical drill holes which were noted to intersect significant high-grade zones of silver-lead-zinc mineralization and to also initiate delineation of several large vein structures through trenching and mapping.
Silver Hart – Pre-Development Studies and Partnership Efforts: To undertake initial metallurgical testing of Silver Hart ores and determine their suitability for ore sorting.
Continuing to work with our Partners: Continue working with Coeur Mining to advance exploration efforts on the Silverknife property and support North Bay Resources Inc. to establish regular processing of ores at the Bishop gold mill processing facility in California.
Advancing Other Assets to Drill-Ready Stage: Initiate detailed examination of mineralized zone on the Blue Heaven and Logjam properties with the objective of bringing the properties to drill ready stages by 2026-2027.
Accomplishments in 2024
CMC made significant deals and made considerable advancements on several fronts that set the stage for growth and shareholder value in 2025 and beyond.
Our accomplishments in 2024 included:
Silverknife Option: Option agreement with Coeur Mining Inc. providing significant property expenditures and payments over a four year period to earn an initial 75% and a deal possibly worth in excess of $6 million (see cmcmetals.ca News-2024 Press release of November 20, 2024).
Sale of Bishop Gold Processing Mill: An amendment of the original purchase agreement for the gold processing mill in Bishop, California, whereby North Bay Resources Inc. (“NBRI’) acquired 55% ownership of the mill assets in partnership with 1436132 B.C. Ltd, that provided CMC with $400,000CDN in common shares of NBRI and $100,000USD in payments. The original purchase arrangement provides for a further $150,000USD in payments and $200,000 CAD in common shares in 2025 (see cmcmetals.ca News-2024 press releases dated April 4 and August 15, 2024).
Securing Property Rights: CMC acquired 100% ownership of the Bridal Veil Property, 100% ownership of the Silverknife and Amy Properties and 80% interest in the Blue Heaven Property (see cmcmetals.ca News-2024 press releases dated February 6 and June 7, 2024).
Property Reclamation: Completed a significant reclamation program on its Silver Hart and Blue Heaven claims to maintain permit compliance and avoid property bonding supplements (see cmcmetals.ca News-2024 press release dated Sept. 19, 2024).
Property Advancement: Completed a brief sampling effort on the Amy Property and prepared a drill plan for 2025 (see cmcmetals.ca News-2024 press release dated Nov 21, 2024).
Mineral Resource Estimate: On behalf of CMC, MICON International Ltd. prepared a new 43-101 Compliant Mineral Resource Estimate for the Silver Hart Project (see cmcmetals.ca press release dated Nov 20, 2024). This new MRE will now be used to advance development plans at Silver Hart.
Financial Improvements: Completed two financings and shares for debt issuances leading to significant debt reduction.
Strengthening our Board: Added John Land to the Board. John has considerable resource experience and is also a very successful business person (see CMC press release August 15, 2024). The Company again wishes to thank its former Chairman John Bossio for his 14 years of dedicated service.
The Company will also be attending upcoming events in Vancouver including the Metals Investor Forum, January 18 and the Vancouver Resource Investment Conference January 19-20. Mr. Brewer, President and CEO of the Company is available for one-on-one meetings during these times and his contact information is noted below. He welcomes the opportunity to discuss Company activities and plans ahead.
Qualified Person
The Qualified Person responsible for this Mineral Resource Estimate (MRE) is Charley Murahwi, M.Sc., P.Geo., FAusIMM of MICON International Limited (as defined by National Instrument 43-101). The Qualified Person 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 Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (Yukon), Amy and Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon).
On behalf of the Board: “Kevin Brewer” President, CEO and Director CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng. President, CEO and Director Tel: (+52) 669 198 8503 Cellular : 709 327 8013 kbrewer80@hotmail.com Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
“This news release may contain certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”
