CMC Announces Private Placement to Raise Up to $1,200,000

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

VANCOUVER, BC / ACCESSWIRE / February 27, 2024 / CMC Metals Ltd. (TSX-V:CMB)(FRA:ZM5P)(OTCQB:CMCXF) ("CMC" or the "Company") is pleased to announce its intention to carry out a non-brokered private placement non-flow through units of the Company (each, a "Unit") at a price of $0.035 per Unit, for aggregate gross proceeds of up to $1,200,000 (the "Offering").

Each Unit will consist of one (1) common share of the Company and one (1) common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.05 per share for a period of 12 months from issuance.

The Company expects to use approximately 85% of the net proceeds (the "Net Proceeds") from the Offering to fund property expenses and exploration at the Gavilanes project in Durango, Mexico and/or its other exploration projects in Canada, and to use the remainder for general working capital, with less than 5% of the Net Proceeds used for Investor Relations Activities, as such term is defined in the policies of the TSX Venture Exchange (the "TSXV").

The Company may pay finders' fees comprised of cash and non-transferable warrants ("Finder's Warrants") in connection with the Offering, subject to compliance with the policies of the TSXV. Each Finder's Warrant will be exercisable into one common share of the Company at a price of $0.05 per share for 12 months from issuance. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Closing is subject to customary closing conditions including, but not limited to, the negotiation and execution of subscription agreements and receipt of applicable regulatory approvals, including approval of the TSXV.

The securities being offered will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.