Mr. Fiore Aliperti reports

METALLIS COMPLETES SUCCESSFUL INAUGURAL DRILL CAMPAIGN AT GREYHOUND, IDAHO

Metallis Resources Inc. has completed its 2025 diamond drilling program at the Greyhound property in central Idaho. The program consisted of 11 diamond drill holes (see the attached table) totalling 1,605 metres (m), targeting three previously identified prospects: Bulldog, 1350 and Birdie. This was the first drill campaign ever conducted on the property. The company reports drilling intersected zones of quartz-sulphide veining with visible mineralization. All samples have been submitted for analysis, with results now being received. Following analysis and interpretation, initial results are expected to be released in the coming weeks.

Dave Dupre (Metallis vice-president of exploration) commented: "Greyhound's first drill program has been a major success, delivering a meaningful improvement in our understanding of the mineralized structures across all three tested targets. The visual results are encouraging, particularly the continuity of the shear zones and the presence of polymetallic sulphides. We look forward to receiving all the assay data, which will allow us to quantify these observations and refine our exploration model. These results will be key in guiding our geological team as we plan future drill campaigns at Greyhound."

Bulldog target

At the Bulldog target, four holes totalling 484 m were drilled from two pads centred on a 12 m wide silver-gold-antimony shear zone where surface samples previously returned up to 4.9 per cent antimony (Sb) and 3,360 grams per tonne (g/t) silver (Ag) in grab samples (Metallis news release dated Oct. 30, 2025). Drilling encountered semi-massive sulphides hosted in quartz-sulphide veins containing pyrite, arsenopyrite, and trace sphalerite, galena and stibnite. Drill cuttings were also sampled at this location and will be interpreted in conjunction with the drill core assays.

1350 target

Three drill holes totalling 660 m have yielded compelling results, revealing significant sulphide mineralization across substantial lengths in each hole. Specifically, the company's drill holes strategically targeted several zones near the Lower Rufus adit, where historical channel sampling* revealed impressive results along a 36.9 m length, returning 1.85 g/t gold (Au) and an astonishing 785 g/t Ag* (Metallis news release dated Oct. 30, 2025). Encouragingly, the company's mineralized shear zone has now been traced over 60 m vertically and 70 m horizontally. With three definitive intercepts, the company is gaining a clearer understanding of the morphology of this promising mineralized shear zone.

Birdie target

Four drill holes were completed at the Birdie target, totalling approximately 462 m. Two scissored drill holes were drilled underneath the Upper Birdie portal. Two more holes were drilled off another pad, 50 m southeast of the Lower Birdie. Notably, two trench cuts spaced 70 m apart, along with historic adits, have highlighted a substantial shear zone featuring quartz sulphide veins measuring one m to three m in total width.

Analytical techniques

Core samples taken for assay are halved with a diamond saw, with one-half being sent to ALS Labs (a laboratory independent from the company) and the other half being retained on site for future reference. All the samples are analyzed using the ME-MS61 methodology (four-acid supertrace analysis). In addition, all samples are fire assayed (ME-GRA21) with a 30-gram sample and a gravimetric finish. Known standards and blanks are inserted into the stream of samples on a regular basis. Additionally, all cores are photographed with a high-resolution camera for future viewing. Assay results are expected throughout November and December, 2025, and will be reported as they are received, interpreted and verified that QA/QC (quality assurance/quality control) has been met.

Acknowledgements

Metallis would like to sincerely thank its exploration team and all contractors involved in the successful execution of the 2025 Greyhound drill program. With their professionalism, expertise and dedication, the company was able to complete the first-ever drill campaign at Greyhound safely, on time and within budget. In particular, the company acknowledges the contributions of Foraco Drilling, Brian Brewer Exploration, and the many subcontractors and individuals who worked tirelessly to support field operations throughout the season. Their collective efforts were essential in delivering a smooth and efficient program.

About the Greyhound property

In February, 2024, the company optioned the property, which is in Custer county, Idaho, approximately 42 kilometres (km) northwest of the town of Stanley and 35 km south of Perpetua Resources' Stibnite mine. The property was the centre of an active silver mining camp in the early 1900s and at one point contained a smelter and two active mines situated along the 3.5 km Greyhound shear.

The Greyhound targets are hosted by prominent shear zones with polymetallic quartz-sulphide veins containing elevated concentrations of gold, silver, antimony (a critical mineral), lead and zinc. They are comparable with numerous mines in North Idaho's Silver Valley. This famous district is one of the most prolific silver districts in the world. The total quantities produced are impressive: over a billion ounces of silver, three million tons of zinc and eight million tons of lead, ranking the Silver Valley among the top 10 mining districts in world history.

References

E.H. Bennett, 2006 (The fabulous Coeur d'Alene district: Presentation for North Idaho Chamber of Commerce Legislative Tour, November, 2006, Post Falls, Idaho).

* The grades of the Greyhound 1350 zone are historical and can therefore not be verified by Metallis although there is no reason to believe they are inaccurate.

Qualified person

David Dupre, PGeo, vice-president of exploration and the qualified person, as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About Metallis Resources Inc.

Metallis Resources is a Vancouver-based company focused on the exploration for gold, copper and silver on its 100-per-cent-owned Kirkham property in Canada, situated in northwestern British Columbia's Golden Triangle, and on the Greyhound property, a gold/silver/antimony target in Idaho.

Metallis trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB Exchange and 0CVM on the Frankfurt Stock Exchange, and has 85,380,003 common shares issued and outstanding.

We seek Safe Harbor.