Mr. Kevin Brewer reports

CMC METALS LTD. ANNOUNCES SHARE CONSOLIDATION AND NAME CHANGE

A consolidation of CMC Metals Ltd.'s common shares on the basis of 10 preconsolidation shares for one new postconsolidation share and a change of name to Walker Lane Resources Ltd. will occur on March 25, 2025, as approved by the TSX Venture Exchange.

As at the date of this news release, the company has 164,420,419 common shares issued and outstanding. Upon completion of the consolidation, it is expected that there will be approximately 16,442,042 common shares issued and outstanding. No fractional shares will be issued under the consolidation, and each fractional share following the consolidation that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. As applicable, the exercise or conversion price and the number of shares issuable under any of the company's outstanding stock options and convertible instruments will be proportionately adjusted.

Effective at the opening of trading on the effective date, the company's preconsolidation common shares will be delisted from the exchange and the postconsolidation common shares will commence trading. The company's new trading symbol will be WLR, and the new Cusip number and international securities identification number are 931674105 and CA9316741052, respectively.

A letter of transmittal will be sent to registered shareholders providing instructions to surrender their preconsolidation share certificates or director registration statement (DRS) evidencing their shares for replacement share certificates or DRS representing the number of postconsolidation shares to which they are entitled as a result of the consolidation. Until surrendered, each share certificate or DRS representing shares prior to the consolidation will be deemed, for all purposes, to represent the number of shares to which the holder thereof is entitled as a result of the consolidation.

The company's board of directors believes that the consolidation is necessary to strengthen the overall position of the company to avail new corporate development opportunities, a new corporate vision and financing transactions.

We seek Safe Harbor.