La Plata Copper-Silver-Gold-PGE Project (100%-owned):

• 9.5% strategic equity investment by Newcrest Mining completed May 2023
• 2023 exploration planned to commence in Q2 with resource expansion drilling and testing of additional porphyry targets
• Inaugural NI 43-101 mineral resource estimate of 985lbs CuEq consisting of 115.7 million tonnes at an average grade of 0.39% copper equivalent (“Cu Eq”) (0.35% Cu and 4.02 g/t Ag) announced April 2022*
• Updated resource estimate pending, including 2022 drilling which intercepted 816 m of 0.41% CuEq with the final 5.2 m grading 5.39% CuEq (2.44% Cu, 18.7 g/t Ag and 5.0 g/t Au+PGE) and ending in mineralization
• Located in the prolific high-grade La Plata mining district of Colorado, USA
• Central porphyry copper-silver-gold + PGM system, surrounded by high-grade silver and gold-rich epithermal system hosting 56 identified vein, replacement and breccia structures
• Historical high-grade silver and gold production from 1870s to 1940s with 15 to 30 oz/t (500 to 1,000 g/t) silver and +1 oz/t (30 g/t) gold grades2
• Explored by Bear Creek (Rio Tinto), Exxon and Phelps Dodge (FreeportMcMoRan)in the 1950s to 1970s focused on bulk tonnage disseminated and stockwork porphyry copper mineralization

Keno Silver Project (100%-owned):

• 171 square kilometre brownfields Keno Silver Project is the second-largest land position in the historic, ultra-high-grade Keno Hill Silver District of Canada's Yukon Territory
• In July 2022, Hecla Mining Company (NYSE:HL) acquired neighbouring Alexco Resource Corp, becoming the operator of one of the world’s highest grade primary silver mines directly adjacent to Metallic
• Known to host Keno-style mineralization, the Eastern portion of Keno Hill district held by Metallic remained under-explored due to fragmented, private land ownership
• Metallic Minerals holdings hosted 8 historical mines, including five with average recovered grades above 5,000 g/t silver1
• Drilling has confirmed the presence of high-grade silver veins as well as newly discovered bulk tonnage silver mineralization
• Excellent access infrastructure with available grid power
• Inaugural mineral resource estimate expected in 2023

Klondike Gold District Royalties:

• Over 20 million ounces have been produced from the Klondike since its discovery in 18983
• Australia Creek and Dominion Creek are the upstream continuation of the largest alluvial producers in the Yukon• These large-scale alluvial mining operations produce 50% of the gold in the Yukon
• Metallic will receive a 10-15% production royalty from experienced mining operators
• There is potential for up to 10 operations once fully developed
• In January 2023, Metallic announced a production royalty agreement with Little Flake Mining, owned and operated by Parker Schnabel of Discovery Channel’s “Gold Rush” program
• Parker is an experienced alluvial gold mining operator with an exceptional track record of sustainability, having been recognized with the prestigious Robert E. Leckie Award for Excellence in Environmental Stewardship by the Yukon Government

1Historic production data from Cathro, R.J., 2006. Great mining camps of Canada - The history and Geology of the Keno Hill Silver Camp, Yukon Territory, Geoscience Canada Vol. 33.
2Historic La Plata production grades: Geology and Ore Deposits of the La Plata District Colorado – Eckel, Williams, Galbraith - https://pubs.usgs.gov/pp/0219/report.pdf
3Yukon Geological Survey (“YGS”) Yukon Placer Mining Industry Report 2010-2014

* NI 43-101 compliant resource estimate consisting of 115.7 million tonnes at an average grade of 0.39% copper equivalent (“Cu Eq”) (0.35% Cu and 4.02 g/t Ag)

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