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| December 19, 2007 Appointment of New Director / 2,000,000 Unit Flow-Through Private Placement / Grant of Options | |
| Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to the appointment of Daryl Pollock to its Board of Directors. Daryl Pollock was formerly the President and CEO of Olympic Resources Ltd., prior to its merger with Whittier Energy Corp. The Company further wishes to announce that it has agreed to issue up to 2,000,000 Units at $0.75 per unit, each unit consisting of one flow-through common share and one share purchase warrant. Each warrant will be exercisable for one additional non-flow-through common share at $0.80 per share for a period of twelve months. The proceeds of this private placement will be used to pay for the continued work program on the Company's properties both in British Columbia and the Yukon. A finder's fee may be payable in relation to this private placement. This transaction is subject to TSX Venture Exchange approval. The Company has also entered into an agreement with the MineralFields Group to assist the Company over the next two years during the growth stage of aggressive exploration and development of our Canadian property holdings. "We are very pleased to be entering into this relationship with MineralFields Group", said Donald Wedman, CEO and President of the Company. "This is an important milestone in the growth of CMC Metals Ltd. and we look forward to working with MineralFields Group as we develop our Canadian properties in the Yukon and British Columbia." "About MineralFields, Pathway and First Canadian Securities (r)" MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com First Canadian Securities (r) is active in leading resource financings (both flow-through and hard dollar PIPE financings)on competitive, effective and service-friendly terms, with investors both within, and outside of, MineralFields Group". In addition, the Company has granted up to 275,000 common shares pursuant to incentive stock options for granting to certain individuals under the Company's 2007 Stock Option Plan, which Plan received shareholder approval at its March 30, 2007 Annual General Meeting. The options will be granted at the exercise price of $0.65 per share for a two year period, subject to TSX Venture Exchange approval. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. On behalf of the Board: "Don Wedman" Don Wedman, P.Eng. CEO CMC METALS LTD. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. | |
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