Mr. Greg Johnson reports

METALLIC MINERALS' LA PLATA PROJECT SELECTED FOR U.S. DOE GENESIS MISSION AI RESEARCH INITIATIVE AWARD FUNDING

Metallic Minerals Corp. is participating in a U.S. Department of Energy-supported research initiative led by the Colorado School of Mines to develop next-generation artificial intelligence technologies for critical mineral exploration. The collaborative project, agentic GeoAI for precision mineral exploration, is part of the DOE's Genesis mission, a national initiative that brings together government, industry, academia and philanthropy to accelerate scientific discovery through artificial intelligence, high performance computing and advanced scientific research.

Highlights:

• La Plata selected as one of two initial test systems for the development and validation of next-generation AI-assisted exploration technologies, representing an alkalic polymetallic porphyry case against a conventional calc-alkaline porphyry benchmark in the Arizona Copper Triangle;
• The AGAPEX project was selected as one of 278 awards under the DOE's Genesis mission, which DOE reports generated the largest response to a funding opportunity in its history, with more than 5,000 applications received;
• The AGAPEX project is led by Dr. Sebnem Duzgun, Fred Banfield distinguished endowed chair in mining engineering at Colorado School of Mines, with project partners including the U.S. Department of Energy's National Laboratory of the Rockies, formerly the National Renewable Energy Laboratory, the Colorado Geological Survey, and Metallic Minerals, represented by Scott Petsel, president, and Regina Molloy, vice-president, exploration;
• Objective is to develop AI-enabled exploration tools that improve targeting efficiency, reduce geological uncertainty and optimize the allocation of exploration capital;
• Extends Metallic's use of advanced data analytics in exploration, building on the company's prior AI-based target generation work and the multielement reanalysis and relogging of the La Plata data set;
• Technologies developed through the initiative are expected to enhance future exploration programs at La Plata while contributing to broader advances in AI-driven mineral exploration;
• Provides access to national-scale AI and computing resources through the Genesis mission platform, including AI agent frameworks, advanced AI models and high performance computing resources across DOE's National Laboratories;
• Supports growing U.S. strategic initiatives focused on domestic critical mineral supply chains, energy security and advanced manufacturing.

Metallic Minerals' La Plata project was selected for the AGAPEX initiative based on its district-scale alkalic polymetallic mineral system, extensive geological, geochemical and geophysical database, and diverse suite of critical minerals. This provides an ideal environment to develop and validate next-generation AI-assisted exploration technologies. Through the project, Metallic will contribute its exploration data sets and geological expertise while working alongside researchers at mines, NLR and the Colorado Geological Survey. Initial testing under AGAPEX will be conducted across two contrasting geological systems: the Arizona Copper Triangle, representing a calc-alkaline setting, and La Plata, representing an alkalic system hosting copper, silver, gold, platinum, palladium and a range of critical mineral co-products currently under study.

AGAPEX seeks to integrate geological knowledge, geoscience data sets, physics-constrained AI, uncertainty analysis and economic decision making into a unified exploration workflow designed to improve exploration targeting and prioritize the highest-value opportunities. Rather than producing a conventional mineral prospectivity map, AGAPEX is designed to evaluate and rank potential next steps -- additional geophysical surveys, geochemical sampling or drilling -- based on the expected reduction in uncertainty relative to their cost.

The initiative comes at a time of increasing U.S. federal emphasis on strengthening domestic critical mineral supply chains, advancing exploration technologies, and securing the materials needed for energy, advanced manufacturing and national security. Recent federal actions have reinforced the strategic importance of identifying and responsibly developing domestic sources of critical minerals to support long-term U.S. economic and supply chain resilience.

Additional details regarding the AGAPEX project and project milestones will be provided as work progresses.

Colorado School of Mines is internationally recognized for its leadership in mining engineering, earth sciences and critical mineral research. The collaboration combines the university's expertise in artificial intelligence, mineral systems and computational geoscience with Metallic's district-scale geological database while further strengthening the company's relationship with Colorado School of Mines and supporting innovation, research and work force development in Colorado. The initiative is anchored in Colorado, with mines and NLR both located in Golden, the Colorado Geological Survey participating as a project partner, and La Plata located within the southwestern portion of the Colorado mineral belt.

"La Plata was selected for this work because of the quality and completeness of the geological, geochemical and geophysical database we have assembled through years of systematic exploration and because its alkalic polymetallic character makes it a demanding test of these new methods," stated Greg Johnson, chairman and chief executive officer of Metallic Minerals. "Working alongside Colorado School of Mines, the National Laboratory of the Rockies and the Colorado Geological Survey gives our technical team access to AI and computing capability well beyond what a company of our size could develop independently, applied directly to our own data sets. As the United States continues to prioritize secure domestic sources of critical minerals and resilient supply chains, we believe projects with comprehensive geological data sets such as La Plata can play an important role in developing more efficient, responsible and data-driven exploration methods for these strategically important resources in the U.S."

About La Plata project

La Plata is a district-scale copper-silver-gold-platinum-palladium and associated critical mineral project in southwestern Colorado. The project's updated 2026 National Instrument 43-101 mineral resource estimate, announced Jan. 26, 2026, comprises an inferred mineral resource of 181.4 million tonnes grading 0.36 per cent copper equivalent, containing approximately 1.3 billion pounds of copper and 17.0 million ounces of silver, and incorporating platinum, palladium and gold for the first time within a 45.4-million-tonne subset containing 272,000 ounces of platinum group elements plus gold. Copper equivalent grades are calculated using the metal prices and metallurgical recoveries set out in the company's news release of Jan. 26, 2026, and the related National Instrument 43-101 technical report filed on SEDAR+. Additional U.S. government designated critical minerals co-occur with copper mineralization across the La Plata district including rare earth elements, zirconium, hafnium, vanadium, scandium, fluorine and gallium and are under further study. Together, these attributes provide a well-characterized platform for developing and evaluating next-generation AI-assisted exploration technologies.

About Metallic Minerals Corp.

Metallic Minerals is a resource-stage exploration and development company advancing copper, silver and platinum group elements, along with gold and other associated 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 the Yukon territory, adjacent to Hecla Mining's Keno Hill silver operations. The company is also one of the largest holders of alluvial gold claims in the 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 with Canadian first nations, U.S. tribal nations and native corporations, and with local communities to support long-term project advancement.

Qualified person

The scientific and technical information contained in this news release relating to 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 National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. Petsel is not independent of the company. The 2026 La Plata mineral resource estimate referred to in this news release was prepared by Brian Hartman, MS, PGeo, of SLR USA Advisory Inc., an independent qualified person as defined by National Instrument 43-101.

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