CMC Metals Ltd. Provides Update on Its 2023 Exploration Results in the Rancheria Silver District

VANCOUVER, BC / ACCESSWIRE / September 21, 2023 / CMC Metals Ltd. (TSX-V:CMB)(Frankfurt:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to provide a review of its exploration activities conducted in the Rancheria Silver District, south-central Yukon and northern British Columbia in 2023 which have also been discussed in the "Hello Investors, August 2023 edition (see in our website at www.cmcmetals.ca).

The Rancheria Silver District in south central Yukon and northern British Columbia is a 130km by 50km area that has the potential to host significant silver-lead-zinc-gold-critical mineral carbonate replacement deposits ("CRD's"), vein and skarn deposits. The district is host to the Silvertip Deposit one of the highest- grade underground silver-lead-zinc mines in the world owned by Couer Mining Inc. The district is highly comparable to the highly prolific Coeur d'Alene silver belt in Idaho, USA and therefore became an area of exploration interest to CMC Metals Ltd. CMC historically was active in the Rancheria Silver District with its flagship Silver Hart Property and subsequently since 2020 has acquired additional holdings in the District through option agreements including the Blue Heaven property (immediately adjacent to Silver Hart, Yukon) and in British Columbia the Silverknife Property (immediately adjacent and west of the Silvertip Mine Property) and the Amy Property located eight kilometers to the west of the Silvertip mine.

The focus of 2023 exploration efforts was on the Silverknife Property. A total of 11 diamond drill holes (2,143.6 meters) were completed (see Map 1). Drilling was conducted on two areas of the property namely (i) Tootsee South; and (ii) the Silverknife Prospect.

Tootsee South

At Tootsee South, the target was a coincident gravity anomaly that was thought to represent a repeat geological sequence to that of the Silvertip mine area. This area is in a low valley area and is characterized by up to 50 meters or more of glacial till and subsequently there are no exposures of rock outcrops to help further guide drilling efforts. Two drill holes (435.60) meters were drilled and encountered the Cretaceous aged Cassiar granite/granodiorite which intruded the overlying and much older sedimentary sequences including limestones which are prime host rocks for carbonate replacement deposits which is the setting for the Silvertip mine. The Cassiar granite is an important feature as it provides the heat driver for the mineralizing fluids to intrude into the overlying sediments. Crews also mapped the area immediately north of Tootsee South and confirmed the presence of the McDame limestone unit (which is the host unit for a majority of the Silvertip deposit to date), immediately north of the Tootsee River.