CMC Metals Ltd. Acquires Stake in North Bay Resources Inc. and Announces New Director

Vancouver, BC – August 15, 2024 – CMC Metals Ltd. (TSX-V:CMB, Frankfurt:ZM5P, OTCQB:CMCXF) has acquired 1.12 billion common shares, representing a 16.05% interest in North Bay Resources Inc. (NBRI). This acquisition is part of an agreement where NBRI obtained 55.5% of CMC's gold processing mill in Bishop, California.

NBRI has made advances in reopening the Bishop mill, securing ore from the newly acquired Mount Vernon Mine in Sierra County. The mine is permitted and will undergo a mining test to confirm economics before ramping up to an initial production of 100 tons per day.

CMC also announced changes to its Board of Directors. John Bossio resigned after 14 years and was succeeded by John Land. Land brings 40 years of experience in the Canadian oil and gas industry and governance expertise.