Canadian Metals receives a $1 million Government Grant

MONTREAL, Jan. 29, 2019 (GLOBE NEWSWIRE) -- Canadian Metals Inc. (The "Company") (CSE: CME) is pleased to announce that the Ministry of the Economy and Innovation has authorized funding to support the feasibility study for the construction of a silicon plant in Baie-Comeau. This financial assistance, in the form of a grant of up to a maximum of $1,000,000, will come from the Forest Industry Diversification Fund from Resolute Canada Inc. (Fonds de diversification de l'industrie de PF Résolu Canada Inc.)

The non-refundable financial contribution agreement will be administered by Investissement Québec, as agent of the Government of Québec and contains general terms and conditions typical of this type of assistance program.

"This is wonderful news that demonstrates the government's endorsement for our investment and development project for the Baie-Comeau region. This grant is significant support in the execution of our feasibility study currently underway. We are privileged to benefit from such assistance for the realization of our silicon project.'' said Rene Boisvert, president of The Company.

About Canadian Metals Inc.
Canadian Metals is a diversified resource company focused on creating shareholder value through the development of large-scale industrial mineral portfolios in specific commodities and jurisdictions that will fuel the new energy economy. The company is uniquely positioned to pursue this strategy in silicon, precious and base metal assets.

For more information, please contact:

Cautionary Statements Regarding Forward-Looking Information
Certain statements included herein may constitute "forward-looking statements". All statements included in this press release that address future events, conditions, or results, including in connection with the prefeasibility study, its financing, job creation, the investments to complete the project and the potential performance, production, and environmental footprint of the ferrosilicon plant, are forward-looking statements. These forward-looking statements can be identified by the use of words such as "may", "must", "plan", "believe", "expect", "estimate", "think", "continue", "should", "will", "could", "intend", "anticipate", or "future", or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions, and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties, and assumptions, including those mentioned in the Corporation's continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Corporation and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

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