Vancouver, B.C.: At the request of the BC Securities Commission, the Company would like to clarify that the resources at the Silver Hart project are not NI43-101 compliant.
Although there was historical reserves that post date the implementation of the NI43-101 guideline, a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Furthermore, the Company is not treating the historical estimate as current mineral resources or mineral reserves as defined in sections 1.2 and 1.3 of the NI43-101 and should not be relied upon.
Current twinning of several historical drill holes have given the Company the confidence in the historical data that provided the basis to proceed towards permitting a mine at the Silver Hart site. Governmental submissions on the project were posted on our corporate website to keep the general public aware of the permitting process and proposed details of the project.
The Company is not intending to update the historical resource estimate for the TM zone but will be providing an updated Technical Report for the 2005 to 2007 drilling plus, once the results from the 2008 and 2009 drilling are completed, a NI43-101 resource estimate will be conducted at the KL, S, and M zones. This will occur by the end of 2009 and will support the Company's efforts of delineating additional resources that may be processed in the proposed mill facilities.
The Company has not completed a feasibility study to establish economic viability by a "Qualified Independent" as defined in the NI43-101 guidelines and considering that production estimates for the proposed mining operations on the Silver Hart property application state potential quantities and grades, the assessment is speculative and should not be relied on until a Qualified Independent has verified the above with a technical report.
In accordance with TSX policy, the Company will remain halted from trading until after the Cease Trade Order has been lifted and the Exchange has completed its reinstatement review.
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.
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: firstname.lastname@example.org.
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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