SLA.CN · 2021-08-10

Canadian Metals Announces Rock Sampling Results from Nicolas Denys Project

Exploration Programs Sampling & Geoscience Results

Canadian Metals Inc. CSE: CME

CANADIAN METALS ANNOUNCES ROCK SAMPLING RESULTS FROM NICOLAS DENYS PROJECT

August 10, 2021, Montréal, Québec. - Canadian Metals Inc. (“CME” or the “Corporation”) (CSE: CME) is pleased to report results of surface prospecting over the Ann’s Creek block which is part of the overall Nicolas-Denys property, covering over 12’000 ha. The project is located in north-eastern New Brunswick, approximately 25 km northeast of the City of Bathurst and contains 117 claims units for a total surface of 2340 hectares, Figure 1. Results highlight the presence of high-grade silver, gold, lead and zinc mineralization in grab samples from outcrops.

Figure 1. Map of claim blocks comprising the Ann’s Creek block and the historic mineral occurrences.

The project is in north-eastern New Brunswick, in the Bathurst Mining Camp. The property is easily accessible by road from the town of Bathurst, a full-service community which provides infrastructure and skilled manpower for exploration campaigns.

The total historic production tonnage from the neighbouring Nigadoo mine has been reported as 2,049,843 tons grading 0.28% Cu, 2.39% Pb, 2.50% Zn and 106.87 g/t Ag. The Project is in the Canadian Appalachians and is crosscut by the Rocky Brook-Millstream Fault that represent a major regional-scale structure, transversing the entire property. The mineralization consists of massive to disseminated sulphides in or near carbonate-rich veins, fractures and lenses or gossans that cut sheared and brecciated sediments and thin seams of pyrrhotite and pyrite with disseminated sphalerite and galena.

In the summer of 2020, the former owner’s team conducted a sampling program on the Hachey, Dante and Henry zones. A total of 43 samples were collected. These samples were sent to the AGAT laboratory in Toronto for analysis. Most samples had high values in gold, silver, zinc, and lead including the highest value for: gold (Au) 90.8 g/t, silver (Ag) 3590 g/t, zinc (Zn) 27% and lead (Pb) 80.6%.

Table 1: Prospecting results from Ann’s Creek work program

HACHEY ZONE
Sample		Au g/t		Ag g/t		Pb %		Zn %		UTM E		UTM N		AgEq/gr*
HZ-20-1	3.12		142		0.6		3.4		281097		5283839		508
HZ-20-2	0.96		782		5		10.1		281111		5283835		1368
HZ-20-3	3.86		580		3.6		5.3		281105		5283839		1158
HZ-20-4	7.26		1900		14.5		10		281099		5283831		3217
HZ-20-5	1.59		314		2.4		5.8		281096		5283833		711
HZ-20-6	4.42		1580		4.9		10.4		281090		5283831		2423
HZ-20-7	1.05		102		0.4		3.2		281088		5283818		306
HZ-20-8	1.81		596		4.8		3		281082		5283815		978
HZ-20-9	5.44		567		2.7		13		281082		5283825		1513
HZ-20-10	0.14		15		0.15		0.11		281077		5283830		34
HZ-20-11	0.43		88		1.5		0.39		281070		5283816		178
HZ-20-12	0.85		237		6.3		11.4		281051		5283814		901
HZ-20-13	1.37		404		1.6		0.37		281077		5283813		564
HZ-20-14	0.7		367		1.3		4.93		281094		5283825		636
HZ-20-15	9.71		3590		20.3		21.4		281114		5283839		5671
HZ-20-16	1.78		137		4.1		5.8		281043		5283807		598
HZ-20-17	0.98		42		0.25		4.2		281069		5283825		266
HZ-20-18	1.91		80		0.11		0.42		281088		5283836		222
HZ-20-19	1.98		26		0.046		1.2		281148		5283854		214
HZ-20-20	0.33		41		0.14		0.74		281139		5283865		96
HZ-20-21	1.61		111		0.46		0.42		281141		5283858		256
Average														1038
HENRY EAST ZONE
Sample	Au g/t		Ag g/t		Pb %		Zn %			UTM		UTM North	AgEq/gr*
										East
HE-20-1	10.3		722		13.8		4		279279		5283323		2018

HE-20-2	24.7	627	12.6	12.2	279301		5283331		3224
HE-20-3	18	773	16.2	11.3	279309		5283335		2961
HE-20-4	5.76	646	13.9	8.1	279325		5283339		1768
HE-20-5	12.2	93	1.9	2.5	279342		5283344		1119
HE-20-6	90.8	1420	30	5.6	279473		5283384		9050
HE-20-7	4.4	494	9.2	4.7	279360		5283345		1255
HE-20-8	38.3	752	13.7	5.9	279208		5283302		4131
Average										3191
DANTE WEST ZONE
Sample	Au g/t	Ag g/t	Pb %	Zn %		UTM		UTM	AgEq/gr*
						East		North
DW-20-1	0.05	145	6.4	24	279450		5283904		1214
DW-20-2	0.94	1670	80.6	0.7	279529		5283898		4151
DW-20-3	2.02	55	10	27	279580		5283903		1481
DW-20-4	0.28	70	18	5.3	279584		5283886		817
DW-20-5	2.7	78	2	14	279585		5283894		842
DW-20-6	0.41	21	0.8	0.8	279588		5283888		103
DW-20-7	0.68	1350	67	2.4	279580		5283899		3471
DW-20-8	6.25	156	2.3	5.7	279584		5283891		882
DW-20-9	1.35	409	17	14	279553		5283908		1520
Average										1609
DANTE EAST ZONE
Sample	Au g/t	Ag g/t	Pb %	Zn %		UTM		UTM	AgEq/gr*
						East		North
DE-20-1	0.008	19	1.3	1.3	279766		5283964		105
DE-20-2	0.028	63	0.9	0.3	279770		5283960		103
DE-20-3	0.008	37	0.3	0.4	279762		5283969		61
DE-20-4	0.091	634	33	4.8	279761		5283974		1787
DE-20-5	0.034	173	9.5	4.8	279759		5283980		632
Average										538

Assumptions used in USD for the silver equivalent calculation were metal prices of $25.00/oz Ag, $1800/oz Au, $1.08/lb Pb and

$1.30 Zn and recovery is assumed to be 100% as no metallurgical test data is available.

Samples collected on Henry East give results with high grade gold values, which had not been recorded in the past. Eight rocks were analysed, six of them give results of more than 10 g/t Au and up to 600g/t Ag, of which 4 of these massive sulphide rocks give gold values of 90 g/t, 38 g/t, 24 g/t, 18 g/t plus more than 600 g/t Ag for an average AgEq of 3,19 kg AgEq.

For the Hachey area, 21 rocks were analysed. Fifteen of these rocks give values of more than 100 g/t Ag, including 3590 g/t Ag, 1900 g/t Ag, 1580 g/t Ag, 782 g/t Ag, 596 g/t Ag, 580 g/t Ag, 567 g/t Ag, 400 g/t Ag, 367 g/t Ag, 314 g/t Ag, 237 g/t Ag, 142 g/t Ag, 137 g/t Ag, 102 g/t Ag and 111 g/t Ag. Hachey area also reported gold results of more than 1 g/t Au on more than 12 rocks, including values of up to 9.71 g/t Au, 7.28 g/t Au and 5.44 g/t Au plus high silver content of up to 359 g/t for an average AgEq of over 1kg/t Ag

On the Dante East area, five rocks were collected over a width of 24 metres. Two of these rocks give values of 173 g/t Ag and 634 g/t Ag and more than 33% Pb for an average AgEq of 538 g/t.

On Dante West nine rocks were collected, five of which give results of more than 100 g/t Ag, including 1670 g/t Ag, 1350 g/t Ag, 409 g/t Ag, 156 g/t Ag and 145 g/t Ag. Four of these rocks also give results of more than 1 g/t Au, including 6.25 g/t Au, 2.70 g/t Au, 2.02 g/t Au and 1.35 g/t Au. Very high lead values have also been detected in these rocks of up to 80% Pb for an average AgEq of 1609g/t.

Mr. Stéphane Leblanc, President & CEO comments: “From historic data on the property, we knew about the high-grade mineral potential within the Nicolas-Denys project. Anyhow, the present sampling program on Ann's Creek was a great success and demonstrates the high-grade mineral potential of the property”.

The technical contents of this press release were approved by George Yordanov, professional geologist, an Independent Qualified Person as defined by National Instrument 43-101.

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 specific commodities and safe jurisdictions.

For more information, please contact:

Stéphane Leblanc President and CEO

Website: www.canadianmetalsinc.com

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

The statements in this news release that are not historical facts are "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such "forward-looking" statements.

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