Mr. Kevin Brewer reports

CMC CLARIFIES ITS RESEARCH REPORTING

CMC Metals Ltd. is clarifying the contract it had with Fundamental Research Corp. (FRC) and in particular the resultant work from that contract announced on Jan. 15, 2025.

Fundamental Research was contracted by the company to prepare research reports. Four reports including an initiating report were to be prepared by Fundamental Research. The recent report release was the final research report by Fundamental Research and as a result they have fulfilled all terms of the contract with the company.

The research reports were to provide, but not be limited to, the following:

• A full financial analysis including a rating at the complete discretion of Fundamental Research's analyst(s);
• Other analysis as is common in research reports including an analysis of the company's industry and operations.

The total contract dated April 20, 2022, compensated Fundamental Research for its research reporting services for a total amount of $39,600 plus GST.

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 the flagship Silverknife project, which is immediately adjacent to Coeur Mining's Silvertip deposit, one of the highest-grade underground CRD (carbonate replacement deposit) 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 and available for option include the Bridal Veil (Newfoundland), which is an orogenic gold target, and silver-gold target Logjam (Yukon) possibly with porphyritic association.

We seek Safe Harbor.