An anonymous director reports

METALLIC MINERALS ANNOUNCES UPSIZE OF BOUGHT DEAL LIFE PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$10 MILLION

Metallic Minerals Corp., as a result of strong investor demand, has increased the gross proceeds of its previously announced bought deal private placement from $8,000,230 to $10,000,620. The company has entered into an amended agreement with Red Cloud Securities Inc., as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase for resale, with the right to arrange for substitute purchasers to purchase, the following:

• 17,858,000 units of the company at a price of 28 cents per unit for gross proceeds of $5,000,240 from the sale of units;
• 12,988,000 flow-through units of the company at a price of 38.5 cents per charity FT unit for gross proceeds of $5,000,380 from the sale of charity FT units.

Each unit will consist of: (i) one common share of the company; and (ii) one-half of one common share purchase warrant of the company. Each charity FT unit will consist of: (i) one common share of the company; and (ii) one-half of one common share purchase warrant of the company. Each charity FT unit share and each half of one charity FT unit warrant comprising a charity FT unit will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada). Each whole unit warrant and charity FT unit warrant shall entitle the holder to purchase one common share of the company on a non-flow-through basis at a price of 40 cents at any time during the period beginning on the date that is 61 days following the closing date (as defined herein) and ending on the date that is 36 months following the closing date.

The company will grant to the underwriters an option, exercisable in full or in part, up to 48 hours prior to the closing date, to purchase for resale up to that number of additional offered securities in any combination of units and charity FT units at their respective offering prices for additional gross proceeds of up to $2-million.

The company intends to use the net proceeds from the sale of units for the exploration and advancement of the company's La Plata project in southwestern Colorado, as well as for general corporate purposes and working capital.

The gross proceeds from the sale of charity FT units will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act related to the company's Keno silver project in Yukon on or before Dec. 31, 2027. All qualifying expenditures will be renounced in favour of the subscribers of the charity FT units effective Dec. 31, 2026.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the offered securities will be offered for sale to purchasers in the provinces of Alberta, British Columbia, Manitoba, Ontario, Saskatchewan and, only with the company's prior written consent, Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issuable from the sale of offered securities are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The units will also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended, and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.

There is an amended and restated offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this amended offering document before making an investment decision.

The offering is scheduled to close on June 22, 2026, or such other date as the company and Red Cloud may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

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, gold, lead and zinc 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's team has been recognized for environmental stewardship practices, and 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.

We seek Safe Harbor.