Mr. Greg Johnson reports

METALLIC MINERALS ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT FOR THE LA PLATA PROJECT MINERAL RESOURCE ESTIMATE, COLORADO, USA

Further to its Jan. 26, 2026, news release, Metallic Minerals Corp. has filed on SEDAR+ the National Instrument 43-101 technical report entitled "NI 43-101 Technical Report, Allard Cu-Ag-PGE-Au Porphyry Deposit, La Plata Project, Southwestern Colorado, USA." The technical report was prepared by SLR USA Advisory Inc., with an effective date of Jan. 23, 2026.

Greg Johnson, chairman and chief executive officer of Metallic Minerals, stated: "The recently filed 2026 NI 43-101 mineral resource estimate at the La Plata project marks a major milestone for the company. The updated estimate expands the inferred resource tonnage by approximately 23 per cent to 181.4 million tonnes at 0.36 per cent copper equivalent, containing 1,307 million pounds of copper and 17.0 million ounces of silver (1,455 million pounds copper equivalent). Importantly, this updated estimate incorporates platinum, palladium and gold for the first time, with a 45.4-million-tonne subset now reporting 91,000 ounces platinum, 121,000 ounces palladium and 60,000 ounces gold totalling approximately 272,000 ounces of platinum group elements plus gold, which enhances the overall value and metal diversity of the deposit.

"The La Plata project represents a rare large-scale, U.S.-based mineral system hosting many critical minerals identified as strategically important to U.S. supply chains. Located in southwest Colorado, the project is an alkalic porphyry copper/silver/PGE/gold system hosting a broad suite of critical minerals within accessory phases including magnetite, fluorapatite, titanite and zircon. These minerals collectively host light and heavy rare earth elements, along with six additional priority critical minerals including gallium, scandium, vanadium, titanium, zirconium and hafnium -- many of which face severe U.S. supply vulnerabilities or 100-per-cent import dependence."

In collaboration with Columbia University, continuing metallurgical work has demonstrated electrochemical recovery of 99.9-per-cent-pure copper from La Plata mineralization. These results support evaluation of alternative processing technologies that may complement conventional mineral processing methods with additional results from continued work pending.

Highlights from the January, 2026, La Plata MRE (mineral resource estimate) news release:

• The 2026 MRE consists of two continuous, adjoining mineralized shells: (i) a copper-silver shell based largely on 1950-to-1970s-era drill holes; and (ii) a copper-silver-platinum-palladium-gold shell supported by Metallic's multielement drill core sampling.
• Metallic-era drill results of 8,240 metres from the 2021 to 2023 drill and underground sampling programs support the estimation of a copper-silver-platinum-group-element-plus-gold-bearing subset that represents 25 per cent of the total resource tonnage.
• The inclusion of co-occurring precious metals (platinum, palladium and gold) results in a 17-per-cent-higher copper equivalent grade for the 45.4-million-tonne subset (0.41 per cent CuEq versus 0.35 per cent CuEq) relative to a copper-and-silver-only equivalent of the same subset.
• Significant upside exists for further increases in equivalent grade and precious metal content across the broader deposit with additional drilling, due to limited historic assaying for gold, platinum and palladium.
• The Allard resource is one of only three PGE-bearing development-stage resources in the United States and remains open to expansion at depth and along strike.
• Sixteen untested potential porphyry centres have been identified on the greater La Plata project area, as well as target areas with potential for significant high-grade epithermal silver, gold and telluride mineralization.

With the Allard deposit remaining open at depth and along strike and numerous untested porphyry centres across the district, there are very clear opportunities to grow this resource 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 and drilling of new priority targets in 2026.

The technical report was written by Brian Hartman, MS, PGeo, of SLR USA Advisory, an independent qualified person, and was prepared in accordance with NI 43-101, Standards of Disclosure for Mineral Projects. The report is available under the company's profile on SEDAR+ and will also be available on the company's website.

About Metallic Minerals Corp.

Metallic Minerals is a resource-stage exploration and development company advancing copper, silver, gold, platinum group elements and other critical minerals at the La Plata project in southwestern Colorado and high-grade silver exploration at the Keno Silver project in Yukon, adjacent to Hecla Mining's Keno Hill silver operations. The company 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 across multiple precious and base metal deposits in North America and is backed by strategic investment by Newmont Corp. and Eric Sprott. The company integrates advanced data analytics into its exploration process to support target generation, accelerate discovery and unlock value across its portfolio.

Metallic's project districts have a history of significant mineral production and benefit from existing infrastructure, including road access and nearby power. The company is committed to responsible and sustainable resource development, engaging and collaborating with Canadian first nations, U.S. tribal and native corporations, and local communities to support long-term project advancement.

Coming events

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

• Swiss Mining Institute Conference -- Zurich, Switzerland, March 18 to 19, 2026;
• SAFE Summit 2026 -- Washington, D.C., United States, April 27 to 28, 2026;
• Top Shelf Partners -- Washington, D.C., United States, May 17 to 19, 2026;
• Top Shelf Partners -- Fort Lauderdale, Fla., United States, May 20 to 22, 2026.

Qualified person

The scientific and technical information contained in this news release relating to the La Plata project mineral resource estimate and the associated NI 43-101 technical report has been reviewed and approved by Scott Petsel, MS, CPG, PGeo, president of Metallic Minerals, who is a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects. Mr. Petsel is not independent of the company.

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