CMC Metals Identified High Grade Silver-Lead-Zinc Samples in Trenches and Mine Adit at its Amy Property, North- Central British Columbia

VANCOUVER, February 22, 2023 - CMC Metals Ltd. (TSXV:CMB) (Frankfurt:ZM5P) (CMCXF:OTCQB) ("CMC" or the "Company") is pleased to announce that it has identified high grade silver-lead-zinc samples from trenches and a historic adit dump on its Amy Property in north-central British Columbia.

Samples were collected from two trenches namely the Wild Turkey Zone - Trench 1 and the Whistle Pig Zone Trench 3 and the 4200 level adit dump. Samples were collected from outcrops and provided some spectacular results with up to 946 g/t silver, 18.76% lead, 8.3% zinc, and 9.7% manganese (see Figure 1). The trenches were located in close proximity to the Amy Prospect where previous explorationists noted the presence of high-grade silver-lead-zinc in carbonate replacement ("CRD") style mineralization.

The Amy Property is located within the emerging Rancheria Silver District which is known to host numerous silver-lead-zinc occurrences and also includes the Silvertip mine (one of the world highest grade underground silver-lead-zinc mines) owned by Coeur Mining. Amy is located only 8 kilometers west of the Silvertip mine. It was actively explored in the early 1960's and 1970's but since that time has never been explored using modern exploration techniques.

In 2021 CMC Metals contracted SRK Consulting to compile all of the historic data from these early exploration efforts and sampled one site.

In 2022, exploration crews visited all of the former historic trenches most of which had capsized, so sampling was limited. Trenching is required to properly determine the extent of the identified mineralization and to re-establish possible exposures in over 20 historic trenches. Samples at the 4200- level adit dump were not high graded but selected if mineralization was visually evident. Mineralization was noted to occur within limestone and skarnified rocks.

Mr. John Bossio, Chairman noted that "This new evidence of high grade CRD mineralization at Amy supports our concept that the area around the Silvertip mine has significant potential to host other significant carbonate replacement style deposits. CMC is very well positioned in this area with both the Amy and Silverknife properties demonstrating considerable exploration potential."

Mr. Kevin Brewer, President and CEO noted "Amy is an excellent future prospect for our Company. We now plan to advance field investigations to ground truth a new access route to the property and discuss options with local First Nations, other stakeholders and permitting authorities in preparation for an exploration application in the fall of 2023. This will help facilitate advanced exploration efforts and possibly drilling at Amy in 2024."

Figure 1

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silverknife project (British Columbia), located in very close proximity to one of the world's highest grade underground silver-lead-zinc mines in the world (owned by Coeur Mining Inc.), the Silver Hart Deposit and Blue Heaven claims (Yukon), Amy claims located 7km west of the Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil, Terra Nova (optioned to Highbank Mining Inc., TSX-V: HBK), and Rodney Pond (central Newfoundland) and Logjam (Yukon).

On behalf of the Board:
"John Bossio"
John Bossio, Chairman
CMC Metals Ltd.

For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (+52) 669 198 8503
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2

To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer directly.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."

SOURCE: CMC Metals Ltd.