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| August 13, 2009 Silver Hart Mine 1,000 Meter Drilling Program Commences / 2,000,000 Unit Flow-Through Private Placement | |
| Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce that a 1000 meter drilling program has commenced at the Silver Hart Mine property. The focus of the drill program will be to expand the estimated resources at the site by continuing infill and at depth drilling for the M zone. This fall a NI43-101 resource estimate for the M zone will be conducted to evaluate the additional resources that could be processed with the current mill being prefabricated for the Silver Hart Mine site. Also, with the identification of the bonanza grades at the TM pit, the Company will investigate the potential of drilling down dip to test the depth of continuity and widths of the high grade surface samples reported in the news release dated July 29th, 2009. Furthermore, the Company wishes to announce that it has agreed to issue up to 2,000,000 Units at $0.225 per unit, each unit consisting of one flow-through common share and one share purchase warrant. Two warrants will be exercisable for one additional non-flow-through common share at $0.30 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. This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents. On behalf of the Board: "Donald Wedman" Donald Wedman, P.Eng. President/CEO CMC METALS LTD. For further information on the Company, please contact Mr. Gord Zelko, VP Business Relations at StoxNetwork Corp. Telephone: 250-495-7123, or Email: contact@stoxnetwork.com. 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. | |
You can view the Next News Releases item: Fri Aug 21, 2009, Increase in Units Offered and Closing of 2,000,000 Unit Flow-Through Private Placement @ $0.225 per Unit / New 1,000,000 Unit Private Placement @ $0.25 per Unit You can view the Previous News Releases item: Wed Jul 29, 2009, 41,900 Grams per Tonne intersection in the TM Pit You can return to the main News Releases page, or press the Back button on your browser. |
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