Mr. Fiore Aliperti reports

METALLIS ANNOUNCES UPSIZE OF NON-BROKERED PRIVATE PLACEMENT

Metallis Resources Inc., due to strong investor demand, has increased the size of its previously announced non-brokered private placement. The upsized offering will be for a total of $1.25-million, consisting of up to 4,687,500 non-flow-through units at a price of 16 cents per unit for proceeds of up to $750,000 and up to 2.5 million flow-through shares at a price of 20 cents per share for proceeds of up to $500,000.

Each non-flow-through unit will consist of one common share and one non-flow-through, non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of 26 cents per share for a three-year period.

The flow-through shares will qualify as flow-through shares for the purpose of the Income Tax Act (Canada). The proceeds of the flow-through private placement will be incurred on Canadian exploration expenses (within the meaning of the act). The company will renounce these expenses to the purchasers with the effective date no later than Dec. 31, 2026, and as required under the act.

Shares and warrants issued on closing will be subject to a trading hold period expiring four months plus one day from the date of issuance. Closing of the private placement is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange.

About Metallis Resources Inc.

Metallis Resources is a Vancouver-based company focused on the exploration for gold, copper and silver at its 100-per-cent-owned Kirkham property in Canada, situated in northwestern British Columbia's Golden Triangle, and at the Greyhound property, a gold/silver/antimony property 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 85,730,003 common shares issued and outstanding.

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