Mr. Greg Johnson reports

METALLIC MINERALS APPOINTS DR. M. STEPHEN ENDERS TO ITS BOARD OF DIRECTORS

Metallic Minerals Corp. has appointed Dr. M. Stephen Enders to the company's board of directors. Dr. Enders brings over 47 years of experience in mineral exploration and mining, working on some of the world's most significant copper and gold deposits. Dr. Enders is a major addition to the Metallic team and the company looks forward to his invaluable contributions to the advancement of the La Plata copper-silver-gold-PGE (platinum group element) and Keno Silver projects.

Dr. Enders's distinguished career includes former positions as senior vice-president of worldwide exploration for Newmont Mining Corp., the world's largest gold company, and president of Phelps Dodge Exploration Corp. (now Freeport McMoRan), one of the world's largest copper companies. In addition, he was also a director of Copper Mountain Mining Corp. (recently acquired by HudBay Mining) and former executive chairman, director and chief operating officer of EMX Royalty Corp. As a co-founder of Cupric Canyon Capital LLC, Dr. Enders has been part of the team that has advanced the Khoemacau copper-silver mine in Botswana from exploration into production backed by private equity investors.

In addition to his achievements in industry, Dr. Enders has served as department head for geology and geological engineering and for mining engineering at the Colorado School of Mines until 2023 and is on the board of governors for the CSM Foundation.

Dr. Enders is an honorary lecturer and past president of the Society of Economic Geologists (SEG) as well as former president of the SEG Foundation board of trustees. He received the Distinguished Achievement Medal from the Colorado School of Mines in 2009, the Ben F. Dickerson Award from the Society for Mining, Metallurgy & Exploration in 2014, and the Ralph W. Marsden Award from the Society of Economic Geologists in 2016.

Dr. Enders holds a BSc degree in geological engineering from the Colorado School of Mines and MSc and PhD degrees from the University of Arizona.

Metallic Minerals chairman and chief executive officer, Greg Johnson, stated: "We are very pleased to welcome Steve to the Metallic Minerals board of directors. Steve's depth of technical experience in exploration and development of major copper and gold deposits and mines worldwide with companies such as Newmont and Phelps Dodge, along with his hands on entrepreneurial experience in high-growth opportunities, is a terrific addition to our board's current expertise in deposit discovery and advancement, process engineering, mine building and project financing."

Dr. Enders stated: "I am excited by the opportunity to help Metallic Minerals advance the La Plata discovery. It is rare indeed today to find an outcropping porphyry copper deposit that has not yet been mined. The presence of high-grade copper mineralization with precious metal credits is promising for a potential underground mine that could be developed in the future with a net positive impact for all stakeholders."

Grant of long-term performance incentives

Metallic Minerals further announces that, subject to the approval of the TSX Venture Exchange, it has granted 1,875,000 stock options to certain directors, officers and employees of the company in accordance with the company's long-term performance incentive plan. Each option is exercisable into one common share in the capital of the company at a price of 30 cents per share, being the closing price of the shares on the TSX Venture Exchange on March 13, 2024, for a period of five years from the date of grant. The options are subject to certain vesting requirements in accordance with the shareholder approved plan.

About Metallic Minerals Corp.

Metallic Minerals is a Canadian exploration and development stage company, focused on copper, silver, gold and platinum group elements in the La Plata mining district in Colorado, and silver and gold in the high-grade Keno Hill and Klondike districts of Yukon. The company's objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development.

We seek Safe Harbor.