Canadian Metals Reviews 2019 and Announces its Strategic Objectives
Canadian Metals Inc. CSE: CME
CANADIAN METALS REVIEWS 2019 AND ANNOUNCES ITS STRATEGIC
OBJECTIVES
August 12, 2019 Montréal, Québec. - Canadian Metals Inc. (“CME” or the “Company”)
(CSE: CME) reviews its progress and accomplishments during 2019 and announces its
strategic objectives for 2020.
Major accomplishments during fiscal year ended July 31, 2019
Baie-Comeau Silicon Project:
• The Baie Comeau project was modified from ferrosilicon to silicon production with
emphasis for the aluminum and polysilicon industry. The industrial definitive feasibility
study (DFS) began in November 2018 with the support of SMS Metix and Mesar , it
was recently completed. The DFS is currently under review by the Company, with a
final release by the end of calendar year 2019.
• CME was awarded a $1,000,000 grant to execute its industrial study in January 2019.
• Hydro Québec also finalized its study to supply power lines to the reserved parcel of
land in Baie-Comeau where the smelter will be built.
Langis Property:
CME entered into a definitive agreement to sell its quarry to Les Minéraux Industriels du
Québec Inc., an experienced quarry operator. This transaction totalling $2,250,000,
provided an immediate cash inflow of $500,000 in May this year, and subsequent staged
cash payments over a period of approximately 8 years.
Quebec Iron Ore Properties:
The Company entered into an option agreement with FeTiV Minerals Inc. (“FeTiv”) a
private exploration company, to increase its interest to 100% in the
followings: Silicates Lake, Seignelay, Mouchalagane, Lac Robot and Baie-
Trinité iron projects.These Projects are all well located near local infrastructures
of Baie Comeau and Port Cartier.
Strategic Objectives for 2020
Quebec Iron Ore Properties:
Our strategy is to develop in priority sequence each of our 5 projects listed above
based on their individual location to infrastructure, advanced drilling, quality of the
ore, and finally lower capital expenditures. Each of these project s will be 43 -101
qualified after we completed our technical work.
• The Silicate Lake property is our #1 priority due to its proximity of 1.6 km from the
ArcelorMittal railway. Historical works include:
o 9460 metres of historical drilling
o Conceptual estimate (see News release of July 8th, 2019 for more details)
o Excellent potential to increase the estimate as the deposit is open
o Metallurgical sampling indicate excellent concentrate grade with very low
impurities (Silica and aluminium).
o
We expect to initiate a comprehensive drill program in the fall of 2019 with the objectives
of upgrading the conceptual estimate to 43-101 qualified resource in 2020, and complete
all the necessary work to advance the Project to a development decision, by the end of
2020.
• Lac Robot, located 60 km from the city of Baie-Comeau, is a potential new iron ore
discovery. Historical work done on the Property include:
o Mag and TDEM survey covering approximately 2000 hectares ( 20 square
kilometers)
o Surface sampling indicating the presence of Iron, Titanium and Vanadium.
Corporate Structure:
• Gerald Panneton became Chairman and CEO as of July 5th, 2019, bringing experience
and expertise in the exploration and development to production along with extensive
financial acumen to raise the financial requirements.
• CME shareholders will be asked to consider and approve a share consolidation on the
basis of one new common share of the Company for up to every ten existing common
shares of the Company . The roll back has already been supported by many major
shareholders to strengthen the Company share structure, to further eliminate fatal
dilution. The final count of oustandings shares will amount to only 13.2 million shares
after the proposed consolidation.
Gerald Panneton, Chairman and CEO commented, ‘’Canadian Metals with the option to
acquire 100% of the FETIV assets, on or before December 31 st 2020, will be positioning
itself as a Canadian leader on the Cote-Nord du Quebec with excellent potential to develop
large iron ore deposits with low impurities near existing infrastructure.
About Canadian Metals Inc.
Canadian Metals is a diversified resource company focused on creating shareholder value
through the development of large -scale mineral deposits in safe jurisdictions. The
Company is focusing on its new acquisition of the Iron deposits as well as advancing its
special development in the Silicon market.
For more information, please contact:
Gerald Panneton
Chairman & CEO
Email: [email protected]
Stéphane Leblanc
Vice President Corporate Development
Email: : [email protected]
1-418-717-2553
Website: www.canadianmetalsinc.com
Cautionary Statements Regarding Forward-Looking Information
Certain statements in this news release constitute "forward -looking" statements. These statements relate to
future events or our future performance. Forward -looking statements include the completion of the
Consolidation and the statement that the Consolidation will permit CME to reduced future dilution from the
ability to raise additional capital at a higher price per share. All such statements involve substantial known and
unknown risks, uncertainties and other factors which may cause the actual results, p erformance or
achievements to vary from those expressed or implied by such forward -looking statements. Forward-looking
statements reflect current expectations regarding future events and operating performance and speak only as
of the date of this news rele ase. Forward-looking statements involve significant risks and uncertainties, they
should not be read as guarantees of future performance or results, and they will not necessarily be accurate
indications of whether or not such results will be achieved. A nu mber of factors could cause actual results to
differ materially from the results discussed in the forward-looking statements, including, but not limited to, that
the closing will not occur. Although the forward -looking statements contained in this news release are based
upon what management of the Company believes are reasonable assumptions on the date of this news
release, the Company cannot assure investors that actual results will be consistent with these forward-looking
statements. These forward -looking statement are subject to certain risks and uncertainties and other risks
detailed from time-to-time in CME's ongoing filings with the securities regulatory authorities, which filings can
be found at www.sedar.com. These forward-looking statements are made as of the date of this news release
and CME disclaims any intent or obligation to update any forward -looking statement, whether as a result of
new information, future events or otherwise, unless required by applicable securities laws.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of
this release.