Mr. Kevin Brewer reports

CMC ANNOUNCES SHARES FOR DEBT ISSUANCE

Further to its news release dated April 12, 2024, CMC Metals Ltd. has received TSX Venture Exchange approval to settle $133,457.02 of outstanding debt through the issuance of common shares of the company.

In accordance with the settlement of debt, the company has issued 1,944,445 common shares to four non-arm's-length creditors of the company and an additional 1,021,267 common shares to three arm's-length creditors of the company at a deemed price of 4.5 cents.

The shares issued are subject to a four-month hold period, which will expire on a date that is four months and one day from the date of issuance.

As certain insiders are party to the agreement, it may be considered a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders In Special Transactions, and the TSX-V. The company is relying on the exemptions from the formal valuation and the minority shareholder approval requirements of MI 61-101 contained in Section 5.5 (a) and Section 5.7 (1)(a), as the fair market value of the common shares being issued to insiders in connection with the service shares does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

About CMC Metals Ltd.

CMC Metals is a growth-stage exploration company focused on the exploration of high-grade silver-lead-zinc critical-mineral carbonate replacement and skarn deposits in the Rancheria silver district in Northern British Columbia and Yukon. The company's properties include its flagship Silverknife project, which is immediately adjacent to Coeur Mining's Silvertip deposit, one of the highest-grade underground CRD vein deposits in the world, the Silver Hart deposit and Blue Heaven claims (Yukon), and the Amy claims (north-central British Columbia). Other polymetallic projects in its portfolio available for option include Bridal Veil (Newfoundland), which is an orogenic gold and silver-gold target, and Logjam (Yukon), possibly with porphyritic association.

We seek Safe Harbor.