Direct Ship Ore Contract Signed
Re: News Releases – Tuesday, April 17, 2012
Title: Direct Ship Ore Contract Signed
Vancouver, B.C.: CMC Metals Ltd. (the “Company”) is pleased to announce that it has finalized the contract for the sale of the direct ship ore from the 2011 Silver Hart bulk sample. Currently the shipment is at the port and will be shipped over the next few weeks once a shipping line has been selected. The contract states that a Letter of Credit must be posted that the Company can draw an 85 percent provisional payment based on the preliminary assay results. SGS Canada Inc. sampled and weighted the bulk shipment for the preliminary indicated assays. Results showed that the average silver assay was 4,413.2 grams per tonne (128.8 ounces per ton) for the measured 114.1 tonne shipment. Originally reported direct ship ore weight was stated to be an estimated 170 tonnes. The difference is due to moisture loss with the shipment being stored in a warehouse several months and errors in the estimated bulk specific gravity. The remainder of the 2011 bulk sample is waiting to be prepared for costumer specifications. The Company will report the sale of the remaining bulk sample once the specifications have been determined.
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: firstname.lastname@example.org.
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