Mr. Greg Johnson reports

METALLIC MINERALS SIGNS ADDITIONAL PRODUCTION ROYALTY AGREEMENT ON AUSTRALIA CREEK GOLD CLAIMS

Metallic Minerals Corp. has signed a new production royalty agreement for a mile of alluvial gold claims at its Australia Creek property in the Klondike gold district, Yukon Territory.

Strategic expansion amid rising gold prices

This agreement builds on Metallic Minerals gold royalty business in 2025 and has been signed with an experienced mining operator, who brings over 40 years of gold mining experience in the Yukon. This marks the second agreement at Australia Creek expanding the company's leased ground to over two miles from the original one-mile lease in Australia Creek. With this additional agreement the company anticipates at least two gold mining operations on its Klondike gold district claims for the 2025 season with discussions underway with other potential operators on other properties.

"With gold prices at historic highs, we've seen strong interest in our alluvial gold royalty portfolio," said Greg Johnson, chairman and chief executive officer of Metallic Minerals. "We are pleased to be able to expand our leased ground in the Klondike, which follows the company's first gold production at Australia Creek in 2023 and 2024. This agreement supports a second operation capitalizing on today's market conditions with an operator that has a track record of operational excellence and environmental stewardship, aligning with our commitment to responsible resource development."

The agreement is effective immediately, with production on this block anticipated to begin this summer. Under the terms of the lease, the operator must meet a minimum $500,000 annual work commitment and pay a royalty of 12 per cent on all gold production to Metallic Minerals.

Australia Creek represents a significant eastern extension of the historic Klondike gold district and is one of the most important discoveries in the region in decades. Metallic Minerals is among the largest holders of alluvial gold mining claims in the Yukon, and additional gold production royalties from Australia Creek will contribute funds toward the company's hard rock silver and copper exploration projects in Yukon and Colorado.

Camp setup and road clearing is underway at Australia Creek in preparation for exploration drilling and mine operations on the two leased blocks.

About Australia Creek

Metallic Minerals holds a 100-per-cent interest in 36.4 square kilometres of mining rights along the Australia Creek drainage south of Dawson City, Yukon. Australia Creek is part of the historic Klondike gold district that is estimated to have produced over 20 million ounces of gold since its discovery in 1898. Australia Creek and its benches are now recognized by Yukon Geological Survey as the eastern continuation of the highly productive Klondike Goldfields, which is the largest placer gold producing area in the Yukon. Modern, open-pit operations in the Klondike have doubled production in the region over the past decade.

Despite extensive mining activity nearby, Australia Creek itself was not historically mined due to its importance as a source of water and hydro-electric power for the floating dredge operations that were conducted in the region between the 1920s and 1960s. However, exploration drilling at Australia Creek has returned gold-in-gravel values that compare to some of the best producing areas of the Klondike presenting an exciting opportunity for the company.

The company has additional ground for lease to experienced operators in Dominion and Australia Creek in the Klondike district, and Granite Creek near Keno City, Yukon, that have active water licences. New operating permits are being advanced on additional ground in both areas.

Grant of long-term performance incentives

The company also announces that, subject to the approval of the TSX Venture Exchange, it has granted 1.4 million stock options to certain directors, officers, consultants 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 23 cents per share, being the five-day moving average volume weighted price of the shares on the TSX Venture Exchange as of April 14, 2025. The options are valid for a period of five years from the date of grant and subject to certain vesting requirements in accordance with the shareholder approved plan.

Upcoming events

Metallic Minerals management will be available at the following upcoming events in 2025, in addition to other events to be added as the company rolls out its marketing plans over the coming year:

1. INVEST Fair -- Stuttgart, Germany, May 9 to May 10, 2025;
2. Global Commodity Expo Florida -- Fort Lauderdale, Fla., United States, May 11 to May 13, 2025;
3. Global Commodity Expo Atlanta -- Atlanta, Georgia, U.S., May 14 to May 16, 2025;
4. Precious Metals Summit -- Beaver Creek, Colo., Sept. 9 to Sept. 12, 2025;
5. Precious Metals Summit -- Zurich, Switzerland, Nov. 10 to Nov. 11, 2025.

About Metallic Minerals Corp.

Metallic Minerals is a leading exploration and development stage company, focused on Cu (copper), Ag (silver), Au (gold) and other critical minerals in the La Plata mining district in Colorado, and Ag and Au in the high-grade Keno Hill and Klondike districts of the 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.

At the company's La Plata project in southwestern Colorado, the expanded 2023 National Instrument 43-101 inferred mineral resource estimate highlights a significant porphyry Cu-Ag resource containing 1.21 Blb (billion pounds) Cu and 17.6 Moz (million ounces) Ag, with numerous additional targets showing potential for a district-scale porphyry system. Newmont is a 9.5-per-cent strategic investor in Metallic Minerals and provides expertise and collaboration on the La Plata project through a joint technical committee. The U.S. Geological Survey has identified the La Plata mining district as a critical minerals resource area under the earth mapping resources initiative program and has completed significant geologic and geophysical studies to enhance understanding of the critical mineral potential in the district.

In Canada's Yukon Territory, Metallic Minerals has consolidated the second-largest land position in the high-grade Keno Hill silver district, directly adjacent to Hecla Mining's operations, with more than 300 million ounces of high-grade silver in past production and current reserves and resources. The 2024 inferred mineral resource estimate at the company's Keno silver project adds 18.2 Moz AgEq (silver equivalent) grading 223 g/t AgEq (120 g/t Ag, 0.10 g/t Au, 0.80 per cent Pb (lead) and 1.77 per cent Zn (zinc)) to the company's total resources. Hecla is the largest primary silver producer in the U.S. and now in Canada with production from its Keno Hill operations.

Metallic Minerals 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.

The company is led by a team with a record of discovery and exploration success on several major precious and base metal deposits in North America, 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.

Qualified person

The disclosure in this news release of scientific and technical information regarding exploration projects on Metallic Minerals' mineral properties has been reviewed and approved by Catherine Knight, PGeo, vice-president, technical services, for The Metallic Group of Companies, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Ms. Knight is not independent of the company.

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