CMC Metals Ltd. Completes Resource Estimate for Silver Hart Property, south central Yukon

2:56 PM ET, January 15, 2010

Jan 15, 2010 (TheNewswire.ca via COMTEX) -- (via Thenewswire.ca)

Vancouver, B.C.: CMC Metals Ltd. (the "Company") wishes to announce that it has received a National Instrument NI 43-101 Technical Report for its Silver Hart Property, located in south-central, Yukon.

Dahrouge Geological Consulting Ltd. ("DGCL") of Edmonton, Alberta used all data available from reliable historic exploration drilling programs, combined with 2005 through to the end of 2009 exploration drilling programs carried out on the Silver Hart Property to complete geological modeling and provide a resource estimation on the KL, TM and M Zones.

A base case cut-off grade of 900 g/t silver equivalent ("Ag-Eq"), similar to the Bellekeno deposit, is proposed as the most realistic scenario under the current circumstances. The Bellekeno Property, located in the Keno Hill mining camp, central Yukon, contains high-grade silver mineralizaton similar to the Silver Hart Property. The 600 g/t Ag-Eq cutoff is included in order to demonstrate grade sensitivity.

A summary of the Silver Hart resource estimate based on data to the end of 2009 follows:

600 g/t Ag-Eq cut-off grade Resource Estimate:

(Approximately 1,240,000 contained ounces of silver)

Zone Category Tonnes Ag(g/t) Pb(%) Zn(%)
TM Inferred 40,700 620.36 1.29 10.70
KL Inferred 16,200 368.52 1.03 7.82
M Inferred 12,600 588.11 4.91 5.69
Total(s): 69,500 555.66 1.89 9.12

900 g/t Ag-Eq cut-off grade Resource Estimate (base case):

(Approximately 900,000 contained ounces of silver)

Zone Category Tonnes Ag(g/t) Pb(%) Zn(%)
TM Inferred 19,400 951.67 2.04 15.75
M Inferred 8,000 777.77 6.06 5.58
Total(s): 27,300 901.04 3.21 12.79

Summary notes:

- The Mineral Resources for the TM, KL and M Zones were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005

- The number of metric tons was rounded to the nearest hundred. Any discrepancies in the totals are due to rounding; following the recommendations in NI 43-101

- The resources were compiled using a minimum cut-off grade of 600 and 900 g/t Ag-Eq, which was estimated using a silver price of US$8.60 per troy ounce, and zinc price of US$1.75 per kg ($0.79 per pound)

- High grade intervals were not capped

- A fixed specific gravity of 2.9 was used to calculate tonnages from the volumetric estimates

- A minimum of 1.22 metre true thickness was applied to narrow mineralized intervals, diluted where appropriate by the grade of the adjacent material

- Resources were evaluated from drill hole results using a polygonal method on a series of cross-sections perpendicular to mineralization with areas of influence of 12.5 metres up and down dip within each section, and a lateral influence of half the distance to the next section or 12.5 metres at the end of the series of sections

- Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability

At a cut-off grade of 600 g/t Ag-Eq, the resource estimate at the TM Zone was derived from seven sections, representing a strike length of 230 metres. Where historic holes were twinned, the post-2005 exploration data was utilized. At a cut-off grade of 900 g/t Ag-Eq, the resource estimate at the TM Zone was derived from four sections, representing a strike length of 151 metres at the southern end of the 600 g/t Ag-Eq cut-off mineralization. The character of the mineralized body at a higher cutoff grade retains good consistency between sections. Mineralization within the TM Zone consists of a steeply-dipping quartz-carbonate vein system that cuts through barren granodiorite host rock.

The resource estimate of the KL Zone at the 600 g/t Ag-Eq cutoff grade, exploration data from a combination of three historic and three post-2005 drillholes was utilized. At a cut-off grade of 600 g/t Ag-Eq, the resource estimate at the KL Zone was derived from 3 sections, representing a strike length of 75 metres. At 900 g/t Ag-Eq, the mineralization does not show any lateral or vertical continuity, and therefore was not included in the resource estimate for that cut-off grade. Mineralization within the KL zone consists of a steeply dipping quartz-carbonate vein system, surrounded by weakly mineralized metasedimentary country rock. The weak mineralization is below the cut-off grade within the KL Zone.

At the M Zone, for 600 and 900 g/t Ag-Eq cut-off grades, the resource blocks are derived from the same four sections, with lateral influences between 14 and 28 metres. The total mineralized strike length that is included in the model is 82 metres. The mineralization at the M Zone is modeled as a series of shallowly dipping mineralized bodies.

Integration of surface and near-surface mineralization, utilizing industry-standard surveying equipment, into the resource model at Silver Hart Property may increase the total inferred tonnages. More drilling to evaluate the shallower portions of the deposit, which may be amenable to surface extraction methods and more metallurgical study to better evaluate recoveries are required.

Resource Estimation Methodology

A manual polygonal method was used to estimate silver, lead, and zinc grades for each block. Composited intervals were calculated for each drill hole in an excel spreadsheet. Each interval had to meet the criteria of being greater than or equal to the minimum true thickness of 1.22 metres, and to be greater than or equal to the cut-off grade of 600 or 900 g/t silver equivalent.

Each composited interval may include individual samples (dilution), which are less than the cut-off grade, as long as the entire composited interval exceeds the minimum cut-off grade. Individual intervals of each drill hole, based on the above criteria, were imported into Gemcom GEMS software (version 9.2). Cross-sections were prepared perpendicular to the strike of the mineralization for each zone, where the composited interval of each drill hole is clearly identified.

Each section was exported to AutoCAD Map (version R14). A two-dimensional area was digitized for each resource block by projecting the mineralized interval(s) within the drill hole half-way to the next drill hole (maximum 22 metres) in the section and a maximum distance of 12.5 metres up dip and down dip. Correlation of the composited intervals between each drillhole in the section, and the neighboring sections were determined by an analysis of available grade, geology and alteration data.

The volume of each block was determined by multiplying the area by the lateral influence of the section. The lateral influence of each section was determined by projecting half the distance to the next section or a maximum distance of 12.5 metres at the extreme ends of each mineralized zone.

The tonnage of each block was determined by multiplying the volume of each block by a specific gravity of 2.9. The grade of each resource block is assigned the composited drill hole interval. Tonnages for the mineralized zones were determined by summing the resource blocks within the zone. The grade of each zone was weight averaged, based on the tonnage of each resource block.

The NI 43-101 Technical Report on which this release reports, will be filed on SEDAR by the Company and will be available for viewing in the near future at www.sedar.com.

In compliance with NI 43-101, DGCL's John Gorham P. Geol., and Neil McCallum P.Geol. are the Qualified Persons who prepared or supervised the preparation of the technical information presented in this news release. They have read and approved the contents of this release.

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.

For further information on the Company, please contact Mr. Gord Zelko, VP Business Relations at StoxNetwork Corp. Telephone: 250-495-7123, or Email: gz@mineralstocks.com .

This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., completion and timing of exploration programs at the Silver Hart Property; risks associated with project development; or the need for additional financing) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of ore which is mined varying from estimates; capital and other costs varying significantly from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; changes in exchange rates; fluctuations in commodity prices; delays in development and other factors. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and CMC disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management's beliefs, expectations or opinions that occur in the future, except as required by applicable law.

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.

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