Mr. Benoit Desormeaux reports

METALLICA METALS ANNOUNCES CHANGE OF MANAGEMENT

Metallica Metals Corp. has noted the resignations of Paul Teniere as a director of the company and Aaron Stone as the chief executive officer of the company, effective immediately. The company wishes to thank Mr. Stone and Mr. Teniere for their valuable contribution to the company and wishes them every success in their future endeavours.

The company would also like to announce that Benoit Desormeaux has been appointed as chief executive officer of the company, and John Jentz has been appointed as a director and the non-executive chairman of the company.

About the new management team and directors

Brief biographies of the members of the newly appointed director and management team of the company are as follows:

• Mr. Desormeaux, chief executive officer: Mr. Desormeaux is a proven mining CEO, having risen through the ranks of SEMAFO Inc. from 1997 to 2020, including as CEO, chief operating officer and chief financial officer. He also has over 12 years of board experience, including as audit committee chair, with public and private companies, and charitable organizations. During his career, Mr. Desormeaux established a reputation for value creation, respecting guidance and timelines, and delivering on commitments. He has a strong operations background, having operated four mines in three West African countries, and a proven ability to take exploration and development projects through the full cycle of technical studies, permitting, financing, construction and operations. Mr. Desormeaux has excellent mining capital markets experience, having participated in multiple equity and debt financings and various M&A (merger and acquisition) transactions. He is also a chartered professional accountant (CPA).
• Mr. Jentz, non-executive chairman and director: Mr. Jentz is a mining professional with over two decades of operational, board of director and investment banking experience. His last operational role was head of strategy and corporate development for SEMAFO, a gold mining company which sold for $1.6-billion in 2020. His last board role was chair of the audit committee, and chair of the nominating and compensation committee for North American Palladium Ltd., which sold for $1-billion in 2019. Mr. Jentz holds an honours bachelor of science from the University of Western Ontario and a master of business administration from McMaster University. He is also a chartered professional accountant (CPA).

About Metallica Metals Corp.

Metallica Metals is a Canadian junior mining company listed on the Canadian Securities Exchange. The company is focused on acquiring and exploring gold-silver and platinum group metal (PGM) properties across Canada. The company is currently exploring and developing its Starr gold-silver project, and Sammy Ridgeline and Richview Pine PGM projects, which are all located adjacent to advanced mining projects in the Thunder Bay mining district of Ontario.

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