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| September 10, 2008 Drilling Exploration Starts at the Silver Hart Mine Site | |
| Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce that the 2008 exploration program has been initiated and equipment and men have been mobilized to the site. Work planned for 2008 include 1000 meters of infill drilling at the M zone and the initial drilling at the F zone, trenching, and commissioning of a 25 man camp facilities. With the Company being at the pre-production phase for the Silver Hart Mine, exploration is focused on expansion of additional high grade ore resources that could be feedstock for the proposed mill facilities. In 2007, the M zone drilling intersected similar grades as the TM and S zone that are planned for the initial production source. Historical data, mapped the M zone on surface for 21 meters with an average width of 1.2 meters and grade of 1564 gm/tonne silver, 20.65 percent lead, and 1.54 percent zinc. Step out drilling in 2007 confirmed the strike to continue to 60 meters (news release dated December 10th, 2007). Additional step out and at depth drilling will provide geological information to assess the mineralization of the showing and provide a basis to determine the viability to mine the M zone. The M zone is 430 meters to the east of the S zone and 500 meters from the proposed mill site. The F zone is another historical showing that has been mapped and sampled over a 77 meter strike but hasn't been drilled to define total strike, width and depth of mineralization. Current drilling in 2008 will provide additional data as to the configuration of the showing and assay grades. About the Silver Hart Mine Project CMC's 100% owned Silver Hart Mine project is for a 20,000 tonne per year mine and an 80 tonne per day mill facility to concentrate the run-of-mine ore. Mining of the TM and S zone will be on a seasonal basis (June to October) and milling will be on a year round basis. The first two years will be surface mined then continued by underground methods. There has been substantial exploration on the property since the mid-80's. Additional drilling each year occurred by the Company since 2005 to confirm past drill results and to provide the confidence in the substantial amount of historical data. A historic resource estimate (F. Smith, 1988) was determined at the end of 1987 for the TM zone and in addition to the reported historical reserves, the Company speculates an additional volume of 33,225 tonnes (36,609 tons) with an average grade of 1,755 grams/tonne (51.2 oz/ton) silver, totaling 58,310 kg (1,874,937 ounces) of silver.* These historic resource estimates were based on 50 diamond drill holes (3658m, 12,000 feet) and 673m (2208 feet) of underground workings. The Company performed infill drilling and hole twinning as a due diligence to confirm the historical data. An updated detailed mining approach and review of the geological data provided input for the economic model to assess mine dilution, cut-off grades, run-of-mine head grades, and minimum mining widths. For further understanding of the property, the Company had SGS Lakefield Laboratories Ltd. conduct a detailed metallurgical study to define the mineral recoveries, mill flow diagram, and rate of consumption mill reagents need to concentrate the ore. Based on the SGS Lakefield Laboratories Ltd. metallurgical test results, metal recoveries from the raw ore are 96.9% silver, 97.0% lead, and 80.0% zinc by flotation methods. For additional information on the Silver Hart Project, please visit www.cmcmetals.ca. The information set out herein is based on current drilling and historical data that requires an updated N143-101 compliant resource estimate. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources and the Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Don Wedman, P.Eng., President and Chief Executive Officer for CMC Metals Ltd., a qualified person under National Instrument 43-101. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. *Note: The mineral resource and reserve estimates and preliminary assessments are not supported by a compliant NI 43-101 technical report and reported reserves, resources, and preliminary assessments should not be relied on until they have been independently verified and supported by a technical report. 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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