An anonymous director reports

METALLIC MINERALS ANNOUNCES ADDITIONAL $2 MILLION IN PRIVATE PLACEMENT FINANCINGS

Metallic Minerals Corp. has closed its non-brokered private placement financing with its strategic investors, as well as management and directors, for total gross proceeds of $720,120. Under the non-brokered offering, 3,000,500 units of the company were issued at a price of 24 cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder to purchase one common share at a price of 34 cents at any time on or before Aug. 26, 2027. All securities issued pursuant to the non-brokered offering are subject to a hold period of four months and one day from Aug. 26, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The non-brokered offering follows the closing of the previously announced $6-million brokered LIFE offering, which closed on July 30, 2025. Newmont Corp., through its wholly owned subsidiary, Newcrest International Pty. Ltd., exercised its participation rights pursuant to the investor rights agreement with the company dated May 18, 2023, which allows it to maintain its pro rata shareholding in the company.

In response to strong investor demand, the company is also pleased to announce a flow-through share offering of up to 4.8 million common shares at a price of 27 cents per flow-through share for gross proceeds of up to approximately $1.3-million. The flow-through shares will be subject to a hold period of four months and one day from the date of issuance. Finders' fees may be payable on a portion of the flow-through offering. The flow-through offering remains subject to the final acceptance of the TSX-V. The flow-through offering is expected to close on or about Aug. 27, 2025.

In aggregate, under the brokered LIFE offering, the non-brokered offering and the flow-through offering, the company expects to have raised gross proceeds of more than $8.0-million since the June 23, 2025, announcement of its brokered LIFE offering led by Cormark Securities Inc., along with Canaccord Genuity Corp., SCP Resource Finance LP and Beacon Securities Ltd. as agents. If the warrants under the offerings are exercised in full, it would provide the company with an additional $4.8-million in financing.

The company intends to use the net proceeds of the offerings to advance its La Plata copper-silver-gold-PGE (platinum group element) and critical minerals project located in southwestern Colorado, and to complete qualified Canadian flow-through expenditures, as defined in the Income Tax Act of Canada, at its Keno silver project and its Klondike gold alluvial project in Yukon, Canada. The company will also use the non-flow-through proceeds for working capital and general corporate purposes.

Certain directors and officers of the company subscribed for 63,000 units of the non-brokered offering and are expected to subscribe for 222,000 flow-through shares. The participation by directors and officers under the offerings constitute related party transactions pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the related parties in the private placements in reliance on the exemptions contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively. The company did not file a material change report at least 21 days before the expected closing dates of the offerings as the insider participation had not been confirmed at the time and the company wished to close as expeditiously as possible.

About Metallic Minerals Corp.

Metallic Minerals is a resource-stage mineral exploration company, focused on copper, silver, gold, platinum group elements and other critical minerals at the La Plata project in southwestern Colorado and the Keno Silver project adjacent to Hecla Mining's Keno Hill silver operations in Yukon. The company is also one of the largest holders of alluvial gold claims in Yukon and is building a production royalty business by partnering with experienced mining operators.

Metallic Minerals 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 is committed to responsible and sustainable resource development, and has worked closely with Canadian first nation groups, U.S. tribal and native corporations, and local communities to support successful project development.

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