Canadian Metals acquires 100% Interest in two Silica Properties

MONTRÉAL, QUÉBEC--(Marketwired - Nov. 21, 2017) - Canadian Metals Inc. (The "Company") (CSE:CME)(CSE:CME.CN)(CNSX:CME) is pleased to announce that it has acquired from an arm's length company (the "Vendor"), a 100% interest in nine (9) mineral claims covering one mineral showing known as "Chesnaye Silica" in Baie-Comeau and a 100% interest in one (1) mineral exploration property known as "Chisholm Brook Silica" in New Brunswick.

The Chesnaye Silica Property

The Chesnaye Silica property is located 15km north of Baie-Comeau, in the province of Québec, Canada. The property covers a total area of 448 ha and comprises of 8 claims that are in the process of being granted and one claim that was previously acquired from SiO₂ Canada Ltd. These claims are 100% held by Canadian Metals Inc.

An exploration campaign consisting of 15 diamond drill holes (565 m) and 4 trenches was conducted by North Shore Paper Co. between 1952 and 1957. Ressources Vogues Inc. conducted another exploration campaign in 1994 and obtained an average grade of 99.18% SiO₂ for the property's silica. NI 43-101 non-compliant reserves of 3.5 Mt were published in the 20/10/1985 edition of the Northern Miner Magazine.

Acquisition Highlights

To acquire a 100% interest in the two properties, Chesnaye Silica and Chisholm Brook Silica, The Company has agreed to:

• Issue 5,000,000 common shares of The Company to The Vendor and
• Grant a 1.5% net smelter return royalty (the "NSR") on the Property to a related company of The Vendor. Canadian Metals will have the right to re-purchase half of the NSR for $1,000,000 at any time.
  
  

"This strategic acquisition is in alignment with our plan to diversify our silica sourcing for the Baie-Comeau smelter and potential silica customers. The Chesnaye Silica deposit is located less than 15km from the future smelter location," said Hubert Vallée, CME's President & CEO.

About Canadian Metals

Canadian Metals is focused on the development of its Langis project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself as a supplier of high purity silica and silicon alloy in North America. Silicon based materials can be formulated to provide a broad range of products from more durable, faster building materials with smarter electronic devices, solar panels and more efficient wind turbines. We expect to become a global supplier for a number of industries and applications but without limitation: glass, ceramics, lighting, oil and gas, paint, plastic and rubber. We also want to become an integrated supplier to metallurgical industries including foundries, and participate in a wide range of civil, industrial, environmental and related applications. These target markets are an integral part of the lives of millions of people every day.