Thursday, September 05, 2013 2:19:07 PM
Radcliff Metallurgical Study Results / 15,000,000 Unit Private Placement @ $0.05 per Unit
Vancouver, B.C.: CMC Metals Ltd. (the "Company") is pleased to announce the Metallurgical test results performed by Kappes, Cassiday and Associates in Reno, Nevada on the representative sample of the Radcliff mineralized rock. The test results are a bench scale test of the flotation response that we could expect at the Bishop Mill facilities, processing the material from the Radcliff/ Worldbeater property. The following are the test results:
http://www.cmcmetals.ca/s/NewsReleases.asp?ReportID=601316&_Type=News-Releases&_Title=Radcliff-Metallurgical-Study-Results-15000000-Unit-Private-Placement-0.05-p...
All Head and flotation product assays were determined by Fire Assay (30 grams) for Au, and wet analysis in duplicate for Ag.
The results determined were comparable to past historical results conducted by past owners of the property. Based on the results the Company is very pleased with response to flotation concentration method and is structuring the commissioning of the Bishop Mill facilities to meet or exceed the bench scale results.
In addition, the Company wishes to announce that it has agreed to issue up to 15,000,000 Units at $0.05 per unit, each unit consisting of one common share and one transferable share purchase warrant, of which 3,000,000 Units are flow-through. One warrant will be exercisable for one additional common share at $0.05 per share during year one, and $0.10 per share during year two. The warrants attached to the flow-through Units are non-flow-through on exercise. The majority of the proceeds derived from the total 15,000,000 Unit placement will be used to start up operations of the Company's Bishop Mill property in California, and further development of its Canadian properties, as well as general working capital. A finder's fee by way of cash may be payable in relation to this private placement. This transaction is subject to TSX Venture Exchange approval.
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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