Thursday, January 17, 2013 2:45:27 PM
Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce that the NI43-101 Updated Technical Report on the World Beater property has been accepted by the TSX. The Radcliff/World Beater property is jointly owned with Pruett Ballarat Incorporated as a 50:50 joint venture. A copy of the report will be posted to the CMC Metals Ltd. website. Stated resources in the report are only for the Radcliff Mine and exclude the World Beater Mine at this time. Total resources estimated are:
(Mine Development Associates, Steven Ristorcelli, P.Geo., an independent Qualified Person as defined by the NI43-101 guidelines, January 9th, 2013 update)
Other operating mines in the vicinity include the Briggs Mine located 13 km to the south-southeast of the World Beater property. The Briggs Mine has a stated NI43-10 resource (measured and indicated, May 22nd, 2012, web site) of 662,000 ounces contained in 33,559,000 tons (0.020 oz/ton average grade).
Plans for the Radcliff Mine for 2013, include the continued construction of the 5510 adit towards the high grade drill intersects. The 1997 Compass Minerals Ltd. drill holes demonstrated that there exists a high grade zone grading over 0.50 oz/ton. Exploration and development drifting, and drilling will occur to define the extent of the high grade zone plus prepare development workings. As the development workings proceed, ore will be produced. The Company is currently discussing final details on a contract for selling ore directly to another gold producer while the Bishop Mill Plan of Operations is finalized.
In compliance with NI 43-101, Don Wedman, P.Eng., President and Chief Executive Officer of the Company, is the Qualified Person who prepared or supervised the preparation of the technical information presented in this news 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:
"Donald W. Wedman"
Donald W. Wedman, P.Eng.
CMC METALS LTD.
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