METALLIC MINERALS ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT FOR THE INAUGURAL MINERAL RESOURCE ESTIMATE ON THE KENO SILVER PROJECT IN YUKON, CANADA

Further to its news release dated Feb. 26, 2024, Metallic Minerals Corp. has filed on SEDAR+ a National Instrument 43-101 technical report entitled "Mineral Resource Estimate for the Keno Silver Project, Yukon, Canada," with an effective date of February 1, 2024.

Scott Petsel, President of Metallic Minerals, stated, "The inaugural resource, which defined 18.16 million ounces of silver equivalent (inferred) at the Keno Silver project is a major milestone for the project. The 171 km2 Keno Silver Project, neighboring Hecla Mining's current Keno Hill operations, has very clear opportunities to grow the 2024 Resource Estimate quickly and efficiently with additional drilling, while continuing to advance early-stage targets to new discoveries. The project team is currently working to finalize the next phases of exploration to include additional resource expansion drilling in 2024. Additionally, we anticipate reporting results from our 2023 drill campaign at our La Plata project and providing an update on our alluvial royalty projects over the next few weeks."

The Technical Report was authored by Allan Armitage, Ph.D., P.Geo. of SGS Geologic Services ("SGS") an independent Qualified Person and was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. The report is available under the Company's profile at www.sedar.com and will also be available on the Company's website at www.mmgsilver.com.

About Metallic Minerals

Metallic Minerals Corp. 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 the Yukon. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.

At the Company's La Plata project in southwestern Colorado, the expanded 2023 NI 43-101 mineral resource estimate highlights a significant porphyry copper-silver resource containing 1.2 Blbs copper and 17.6 Moz of silver with numerous additional targets showing potential for a district scale porphyry corridor. Drill results announced in early 2023 included the longest and highest-grade interval ever encountered at La Plata and one of the top intersections for any North American copper project in the past several years. In May 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited (acquired by Newmont Corporation in November 2023) to accelerate the advancement of the La Plata project. A 4,500-meter drill program focused on expanding the current mineral resource and testing extensions of strong porphyry-style mineralization was completed in December 2023 with results pending. In the 2023 Fraser Institute's Annual Survey of Mining Companies, Colorado ranked 5th globally for investment attractiveness and 2nd in the USA.

In Canada's Yukon Territory, Metallic Minerals has consolidated the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla Mining Company's operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. The new 2024 Resource Estimate at the Company's Keno Silver Project adds 18.16 Moz silver equivalent to the Company's total resources. Hecla, the largest primary silver producer in the USA and soon to be Canada's largest with full production at its Keno Hill operations in 2024.

The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators.

All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.

We seek Safe Harbor.