(TheNewswire)
Vancouver, BC / TheNewswire / February 26, 2018 - CMC Metals Ltd. – (“the Company”) (TSX-V: CMB) – is pleased to announce that it has restructured its Board of Directors.
Carl von Einsiedel has agreed to step down as a Director of the Company and Graham Chisholm has agreed to join the Company’s Board in his place. The Company wishes to thank Mr. von Einsiedel for his contributions to the Company since 2015 and wish him every success in his future endeavours.
Mr. Chisholm, A.C.I.S., is a seasoned mining and business executive with experience in public company governance, overseeing exploration and start-ups. He was the Founder, President and CEO of Nubian Resources Ltd (TSX.V.NBR) (previously ICS Copper Systems Ltd) raising $9,000,000 to undertake a 14000 meter core drilling program and that company went on to build a crushing circuit/leach circuit and installation of a 270 cell EMEW plant in Zambia. As a private businessman, he founded a $7,000,000 per year copper tube importing and exporting company importing Kembla Copper Tube and fittings from Australia becoming one of the largest importers of copper tube to Canada for the period 1997-2006.
The Company further wishes to announce that Ian Graham, the former President and CEO of the Company, has agreed to continue to act as an advisor to the Company. Mr. Graham’s knowledge of the Company’s properties and work performed during his tenure will greatly assist with the Company’s goals.
Michael Scholz, CFO of the Company stated, "We are thrilled to have been able to secure the services of Graham Chisholm who is familiar with our Silver Hart and Radcliff properties, as well as welcome back Ian Graham as an advisor. The addition of these gentlemen will be instrumental in the Company's plan to start up the Bishop Mill with ore mined from the Radcliff mine and continue the Company’s efforts with the Silver Hart and Radcliff properties.”
The Company further wishes to announce that it has cancelled 2,000,000 incentive stock options granted to consultants of the Company on October 11, 2017 at $0.09 per share, due to the termination of services. In addition, the Company has cancelled 714,000 incentive stock options granted to directors which options were exercisable at $0.12 per share and set to expire on June 16, 2018, and a further 400,000 incentive stock options at $0.12 per share and expiring June 16, 2018, have been forfeited due to the departure of a director.
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At this time the Company has reserved 3,300,000 incentive stock options under the Company’s rolling stock option plan. The options are exercisable at a price of $0.05 cents per share and set to expire on February 22, 2019.
About CMC Metals.
CMC Metals Ltd. is a mineral exploration company focused on opportunities in the United States and
Canada that offer potential for near-term cash flow. The Company is led by a seasoned team with experience developing assets to production. The Company holds a 50% interest in the Radcliff Gold property (formerly the World Beater Mine) in California located 9 Miles (14 km) north of the Briggs Gold Mine in the Panamint range in Inyo county, Southwestern California. The Radcliff covers 1,654 acres (670 Ha) comprising 10 patented claims, 5 unpatented mill sites and 84 unpatented mine claims. The Company’s Silver Hart Property is a Silver-Lead-Zinc asset located in the Yukon, 132 km west of Watson Lake, and covers 2,200 hectares and 116 Contiguous and partial claims.
The Company also recently announced that it has acquired a 100 percent interest in the Golden Point gold prospect strategically located in British Columbia's Golden Triangle bordering Teck Resources. The Golden Point Project comprises 87 claims totalling 1,518 hectares in the Skeena Natural Resource Region (Liard Mining Division).
On behalf of the Board:
“Michael C. Scholz”
Michael Scholz, Director
CMC METALS LTD.
For further information or to be added to CMC's news distribution list, please contact Mr. Michael Scholz at Tel: 604-605-0166 email: info@cmcmetals.ca
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 includes 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. 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 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, 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”
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