Mr. Greg Johnson reports

METALLIC MINERALS PROVIDES CORPORATE UPDATE AND RESPONDS TO RECENT MARKET ACTIVITY

Metallic Minerals Corp. is issuing this news release in response to investor inquiries regarding recent movements in the company's share price. The company confirms that it is not aware of any undisclosed material change or company-specific development that would account for recent market activity.

"While we continue to advance technical work across Metallic's high-priority copper and silver assets -- including finalizing the updated La Plata mineral resource estimate and preparing for our 2026 drill programs at both La Plata and Keno Silver -- we are not aware of any undisclosed material change that would account for recent share price movement," said Greg Johnson, chief executive officer and chairman of Metallic Minerals. "We believe the market activity is broadly consistent with heightened short-term volatility in metals and mining equities and in precious and base metals pricing. Longer term, copper and silver fundamentals continue to reflect constrained supply growth alongside persistent global demand, underscoring the scarcity of large, high-quality copper and silver assets. Our focus remains on delivering key milestones and executing robust exploration and development programs to unlock value for shareholders. With near-term catalysts across both projects in 2026, we believe Metallic is well positioned to advance value creation in a market increasingly focused on scarce, high-quality copper and silver opportunities."

Corporate and project status:

• La Plata copper/silver/gold/platinum group element project (Colorado, United States): Work is continuing to complete and finalize the updated mineral resource estimate. The company is also planning for a 2026 drill program focused on resource expansion and testing new high-priority targets that build on previous results and may support future resource development.
• Keno silver project (Yukon, Canada): Preparations for the 2026 drill campaign are under way, with multiple targets identified through detailed mapping, geophysics and prior field programs. The company expects to commence drilling in 2026 to follow up on previously defined targets and advance resource expansion objectives.
• Gold and silver production royalties (Yukon, Canada): Two thousand twenty-five was a record year for Metallic's gold and silver production royalties, and the company is working with operating partners to support continued production growth in 2026.

Coming events

Metallic's management team will be participating in several coming key industry events over the coming months and welcomes the opportunity to meet with investors and stakeholders:

• Metals Investor Forum -- Vancouver, Canada, Jan. 23 to Jan. 24, 2026;
• VRIC 2026 -- Vancouver, Canada, Jan. 25 to Jan. 26, 2026;
• AME Roundup -- Vancouver, Canada, Jan. 26 to Jan. 29, 2026;
• Red Cloud Pre-PDAC 2026 Showcase -- Toronto, Canada, Feb. 26 to Feb. 27, 2026;
• Metals Investor Forum -- Toronto, Canada, Feb. 27 to Feb. 28, 2026;
• PDAC 2026 -- Toronto, Canada, March 1 to March 4, 2026;
• Swiss Mining Institute Conference -- Zurich, Switzerland, March 18 to March 19, 2026.

About Metallic Minerals Corp.

Metallic Minerals is a resource-stage 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. Newmont Corp. is a strategic investor in the company with La Plata-directed investment and an established technical committee that supports technical review and exploration planning at the La Plata project. Metallic is also one of the largest holders of alluvial gold claims in Yukon and is building a production royalty business through partnerships with experienced mining operators.

Metallic is led by a team with a strong record of discovery and exploration success on major precious and base metal deposits across North America, along with extensive experience in project development, permitting and financing. Through the integration of artificial intelligence and advanced data analytics into its exploration process, the company is working to accelerate discovery and unlock new value across its portfolio. Metallic is committed to responsible and sustainable resource development and collaborates closely with Canadian first nation groups, U.S. tribal and native corporations, and local communities to support successful project development.

We seek Safe Harbor.