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

• 9.5% strategic equity investment by Newcrest Mining completed May 2023
• 2023 drilling and exploration underway with resource expansion drilling and testing of additional porphyry targets
• Updated NI 43-101 mineral resource estimate of 1,317 lbs CuEq consisting of 147.3 million tonnes at an average grade of 0.41% copper equivalent (“Cu Eq”) (0.37% Cu and 3,72 g/t Ag) announced July 2022*
• Updated resource based on 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 grades1
• 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):

• 100%-owned, 171 square kilometre brownfields project is the second-largest land position adjacent to Hecla Mining’s mining operations in the historic, ultra-high-grade Keno Hill Silver District of Canada's Yukon Territory
• Inaugural 43-101 mineral resource estimate announced February 2024 consisting of 18.16 Moz Ag Eq2 in four distinct deposits
• Each deposit is within 250 meters depth from surface and completely open at depth and along strike in all directions
• The Keno Silver project area hosted 8 historical mines, including five with average recovered grades above 5,000 g/t silver3
• There are 11 targets areas that have returned positive results from initial drill testing to date and 42 additional targets identified on the 171 square kilometer project since 2016 remaining, as yet, undrilled
• The district features excellent access infrastructure and available grid power

Klondike Gold District Royalties:

• Over 20 million ounces have been produced from the Klondike since its discovery in 18984
• 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 La Plata production grades: Geology and Ore Deposits of the La Plata District Colorado – Eckel, Williams, Galbraith
2The base-case AgEq Cut-off grades consider metal prices of $22.50/oz Ag, $1,800/oz Au, $1.00/lb Pb and $1.30/lb Zn, and considers metal recoveries of 95% for Ag, 50% for Au, 94% for Pb and 88% for Zn. AgEq = Ag ppm + (((Au ppm x Au price/gram) + (Pb% x Pb price/t) + (Zn% x Zn price/t))/Ag price/gram) at the above assumed metal prices.
3https://pubs.usgs.gov/pp/0219/report.pdfHistoric 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.
4Yukon 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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