Mr. Greg Johnson reports

METALLIC MINERALS UNDERTAKES DRILL PROGRAMS AT SOUTH KENO AND KLONDIKE GOLD AND SILVER PROPERTIES AND PROVIDES EXPLORATION UPDATE FOR KENO SILVER PROJECT IN YUKON TERRITORY

Metallic Minerals Corp. has provided an update on field activities across its gold and silver royalty portfolio in Yukon, along with continuing exploration programs at its Keno silver project in central Yukon. A separate update will follow shortly on the company's active exploration initiatives at its La Plata copper/silver/platinum group element/gold project in southwestern Colorado.

"Following the successful completion of $8-million in financings at the end of August -- with strong participation from existing shareholders, management, the board and strategic investors, including Newmont Corp. -- Metallic Minerals has launched a series of active exploration and development programs across its portfolio," stated Greg Johnson, chief executive officer and chairman "These initiatives are designed to build on our near-term gold and silver production from Yukon alluvial royalties while continuing to expand our copper, silver and critical mineral resources at our flagship Keno silver and La Plata copper/silver/PGE/gold projects."

Mr. Johnson continued: "We see the current metals market as an exceptional opportunity for investors. While large and mid-cap producers are trading at or near their all-time highs, many high-quality resource-stage companies -- the foundation of future production growth -- remain significantly undervalued. With gold, silver and copper all demonstrating strong performance, Metallic Minerals' diversified U.S. and Canadian portfolio offers a rare combination of royalty income, production growth and discovery potential heading into 2026."

Klondike and Keno gold and silver royalty portfolio

Metallic Minerals is one of the largest holders of alluvial mining claims in Yukon, Canada. The company is advancing a growing royalty portfolio through partnerships with experienced placer mining operators across its extensive holdings.

Now in its third consecutive year of gold production, Metallic Minerals expects record royalty revenues in 2025 from its Australia Creek operations and has recently signed an agreement with an additional operator to commence test mining at its nearby Dominion Creek property. Both areas lie within the heart of the historic Klondike goldfields, which have produced more than 20 million ounces of gold since the legendary 1898 gold rush.

The company also holds substantial alluvial claims in the Keno Hill silver district, overlapping its high-grade Keno silver project, where over 16,000 ounces of alluvial gold were produced from 2015 to 2021. Exploration programs launched in September at both Australia Creek and South Keno include drilling and geophysical surveys to define new zones of recoverable native gold and silver and to advance future royalty-based production from these large-scale alluvial systems.

Klondike goldfields properties

Metallic Minerals holds a 100-per-cent interest in 37.8 square kilometres of highly prospective alluvial ground along the Australia Creek and Dominion Creek drainages south of Dawson City, Yukon. Dominion Creek is a long-established gold-producing area while Australia Creek has been recognized by the Yukon Geological Survey as the eastern continuation of the prolific Klondike goldfields, Yukon's largest placer-gold-producing region.

Although Australia Creek was not historically mined, having served as a key source of water and hydroelectric power for past dredging operations, recent drilling has revealed gold-in-gravel grades with the best-producing Klondike areas, highlighting a major untapped royalty opportunity for the company.

At Australia Creek, with two royalty agreements currently in place, 2025 will be Metallic Minerals' longest and most productive mining season to date. Additional royalties are expected as operations expand across the broader property. A 30-hole sonic drill program completed earlier this year extended known gold-bearing horizons beyond current pits, while a new 25-hole program and passive seismic surveys, initiated in September, is targeting additional mineralized zones for future production.

The company is also finalizing new mining permits on its Australia and Melba Creek properties to support expansion. With elevated gold prices driving strong demand for production-ready ground, Metallic Minerals is well positioned to capture additional royalty income through new operator agreements.

At Dominion Creek, the company has signed a new exploration agreement with an experienced operator to initiate test mining and infrastructure development. Follow-up drilling and geophysical surveys are planned for late 2025 or early 2026 to support the next phase of expanded production and royalty growth in 2026.

South Keno alluvial properties

Metallic Minerals' 100-per-cent-owned 24.2-square-kilometre South Keno alluvial property lies within the famous Keno Hill silver district, overlapping the company's Keno silver project. The area is noted for its coarse gold and thick, stacked gold horizons, offering strong potential for large-scale placer operations.

Current exploration includes reverse circulation drilling, ground-based resistivity surveys, mapping and sampling. The program is designed to expand known gold-bearing zones from the adjacent up-valley operations and to support new lease and royalty agreements in today's robust gold-price environment.

Preliminary drill results confirm the presence of economic gold values while geophysical data are refining the understanding of subsurface stratigraphy and gold-hosting units. Based on these results, Metallic Minerals anticipates additional drilling in early 2026 to further define resource potential.

Keno silver project, Yukon, Canada, update

In Yukon, Canada, Metallic Minerals has consolidated the second-largest land position in the high-grade Keno Hill silver district, directly adjacent to Hecla Mining's operations, which together host more than 300 million ounces of high-grade silver in past production and current reserves and resources.

Hecla Mining, now the largest primary silver producer in both the United States and Canada, has achieved a major milestone at its adjacent Keno Hill mine with its first quarter of positive free cash flow and continued strong production growth, marking the transition to sustained, self-financing operations in the district. Hecla has designated Keno Hill as a core, long-life asset that meets investment hurdles at $25 per ounce silver and continues to advance key infrastructure for the mining operations. Recent drilling at Bermingham has confirmed high-grade extensions up to 1,250 grams per tonne silver over 3.8 metres, extending mineralization 150 metres below current reserves and demonstrating the impressive vertical continuity within the Keno district. To date, the mineralization at Keno Hill has been shown to extend over 1.5 kilometres vertically from the top of the Keno Hill mine to the deepest mineralization at Bermingham.

These developments further validate the long-term production potential and strengthening infrastructure base immediately adjacent to Metallic Minerals' Keno silver project. In 2024, Metallic Minerals announced its inaugural inferred mineral resource estimate of 18.2 million ounces silver equivalent, grading 223 grams per tonne silver equivalent (120 grams per tonne silver, 0.10 gram per tonne gold, 0.80 per cent lead and 1.77 per cent zinc), focused on shallow, open-pittable mineralization amenable to low-cost development. This growing near-surface resource provides a complementary counterpart to Hecla's higher-cost selective underground mining operations, highlighting the potential for a future hybrid mining model that could blend scalable bulk-tonnage open-pit feed with underground high-grade ore to enhance overall district throughput and extend mine life.

Field programs at Metallic Minerals' Keno silver project in 2025 are advancing detailed mapping and rock and soil sampling across high-priority targets prospective for bulk-tonnage silver-lead-zinc mineralization in preparation for a robust 2026 drill campaign aimed at expanding resources, advancing resource-ready targets and testing new discoveries. Metallic Minerals currently has 11 targets with positive drill results requiring follow-up and an additional 40 undrilled, highly prospective targets, representing significant upside potential in this historic yet newly emerging world-class silver district.

Recent presentations and collaboration with Columbia University

Mr. Johnson recently presented at the Carbontech Summit in New York, an event co-hosted by Columbia University Technology Ventures. As part of a panel on successful community engagement in large-scale renewable power and resource development projects, he highlighted Metallic Minerals' approach to building partnerships that align responsible resource development with the global energy transition. The event provided an opportunity to engage with leading researchers, investors and innovators working at the intersection of carbon management, clean technology and sustainable mining.

In a May, 2025, news release, Metallic Minerals announced the identification of significant potential for rare earth elements (REEs) and other critical technology metals at its La Plata project in southwestern Colorado. These materials, alongside the project's established copper, silver, gold and platinum group element endowment, represent a compelling new layer of value for investors. The recognition of REEs, gallium, scandium, tellurium and other key metals expand the project's potential strategic importance as part of a U.S.-based supply chain for critical minerals essential to the U.S. economy and supply chains.

Building on this foundation, the company has initiated a collaboration with Dr. Greeshma Gadikota, a professor at Columbia University and leading researcher in mineral processing and materials recovery, to advance studies on the extraction and recovery of rare earths, platinum group metals and other key technology elements from La Plata. This partnership combines cutting-edge academic expertise with Metallic Minerals' extensive geological and metallurgical data, aimed at unlocking multiple value streams and enhancing the project's long-term economics. The company anticipates providing further updates as this important research collaboration progresses.

Coming events

Metallic's management team will be available at the following international events in 2025, in addition to other events to be added as the company continues its marketing plans over the remainder of the year:

1. Red Cloud Fall Mining Showcase -- Toronto, Canada, Nov. 4 to Nov. 5, 2025;
2. Precious Metals Summit -- Zurich, Switzerland, Nov. 10 to Nov. 11, 2025;
3. AEMA's (American Exploration & Mining Association) annual meeting -- Sparks, Nev., Dec. 7 to Dec. 12, 2025;
4. VRIC (Vancouver Resource Investment Conference) 2026 -- Vancouver, B.C. -- Jan. 25 to Jan. 26, 2026;
5. AMEBC (Association for Mineral Exploration -- British Columbia) Round Up -- Vancouver, B.C. -- Jan. 26 to Jan. 29, 2026;
6. PDAC (Prospectors & Developers Association of Canada) 2026 -- Toronto, Canada, March 1 to March 4, 2026;
7. Swiss Mining Institute Conference -- Zurich, Switzerland, March 18 to March 19, 2026.

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.

Qualified person

The scientific and technical information in this release has been reviewed and approved Scott Petsel, PGeo, president of Metallic Minerals, who is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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