Mr. Jack Bal reports

UPDATE ON 10,000,000 UNIT PRIVATE PLACEMENT AT $0.10 PER UNIT

CMC Metals Ltd. is providing an update on the terms of its private placement announced in its Feb. 10, 2016, press release, wherein the company advised the public of its intention of conducting a private placement of up to 10 million units at 10 cents per unit. The company has received an overwhelming response to its placement, and, as a result, the placement has been increased from 10 million units to 15.5 million units on the same terms and conditions as set out in the Feb. 10, 2016, press release, with the units consisting of one common share and one transferable share purchase warrant, with every two warrants exercisable for one additional common share of the company at 12 cents per share for a two-year period. The proceeds derived from the 15.5-million-unit placement are to be used toward the company's continuing costs associated with the further development of the company's Bishop mill and Radcliff property projects held in the United States, and to bring the Bishop mill closer to production. Approximately 35 per cent of the proceeds raised through this placement will come from insiders of the company, and a finders' fee of 8 per cent cash and 8 per cent in brokers' warrants are payable to third parties, subject to exchange approval.

We seek Safe Harbor.