Apr. 27, 2011 (TheNewswire.ca) --
Vancouver, B.C.: CMC Metals Ltd. (TSXV:CMB) (OOTC:CMCXF) (the "Company") is pleased to announce it has received the final payment of US$215,000 on the bulk sample that was shipped from the Silver Hart site. Final payment was based on assays from the sampling of the shipment after the customer had crushed, dried and homogenized the ore. SGS-CSTC Standards Technical Services Co., Ltd. in China was contracted as a company representative to oversee the sampling process to ensure a representative sampling protocol was applied. Total tonnage was 130.8 dry weight tonnes grading 4568 grams per tonne silver (133.2 ounces per ton) and 19.60 percent lead. Total gross payment after contractual adjustments was US$445,000 (US$3,402.14 per dry weight tonne).
CMC is currently proposing to conduct a 2500 tonne bulk sample this year. Due to the larger size, several proposals from alternative customers for purchasing the 2500 tonne bulk sample are being reviewed with the idea of reducing the freight costs. Don Wedman, P.Eng., CEO and President commented that "The 2010 Silver Hart test sample was nothing less than a complete success. The economic viability of the Silver Hart project was demonstrated on a test small scale tonnage which has given the impetus to evaluate alternatives to accelerate the development." The 2011 bulk sample can be conducted under the current Class III exploration permit. Upon defining the end customer for the bulk sample, the Company will provide an update on the Silver Hart 2011 exploration season.
The Company further announces that it has granted up to 3,000,000 common shares pursuant to incentive stock options to certain of its directors and employees under the Company's Rolling Stock Option Plan, which Plan received shareholder approval at its last Annual General Meeting held June 25, 2010. The options will be granted for a two year period at the exercise price of
.27 per share 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.
For further information on the Company, please contact Mr. Gord Zelko, VP Business Relations at MineralStocks Consulting. Telephone: 250-495-7123, or Email: gz@mineralstocks.com