CMC Metals Ltd. Options the Silverknife Property to Coeur Mining, Inc.

Core Viewpoint - CMC Metals Ltd. has entered into an option agreement with Coeur Silvertip Holdings, allowing Coeur to undertake a significant exploration program on the Silverknife Property in British Columbia, with the potential to earn a 75% interest in the property [1][2][4]. Agreement Details - Coeur can earn a 75% interest in the Silverknife Property by committing a total of $4,050,000, which includes $500,000 in cash payments and $3,550,000 in exploration expenditures [2]. - The agreement outlines specific payment and expenditure milestones, with a cumulative total of $3,550,000 in exploration expenditures and $500,000 in option payments required to earn the 75% interest [2]. - Coeur has the option to purchase the remaining 25% interest for an additional $2,250,000 or enter into a joint venture arrangement with CMC [2]. Exploration Plans - Coeur will be the project operator and plans to compile existing data and conduct additional airborne geophysical surveys to identify polymetallic mineralization similar to that found at its Silvertip Mine [5]. - A five-year exploration permit is in place for the Silverknife Property, expiring on March 31, 2028 [5]. Historical Exploration Data - CMC has previously conducted a SkyTEM geophysical survey, two ground gravity surveys, and a drill program totaling 2,146.3 meters, identifying four primary CRD targets [6]. - Historical drilling at the Silverknife Prospect has shown significant mineralization, including intersections of high-grade silver, lead, and zinc [7]. Company Background - CMC Metals Ltd. focuses on high-grade polymetallic deposits in British Columbia, Yukon, and Newfoundland, with the Silverknife project being part of the emerging Rancheria Silver District [9].