Mr. Fiore Aliperti reports

METALLIS COMMENCES 2026 FIELD SEASON AT GREYHOUND PROJECT, IDAHO

Exploration crews have arrived at Metallis Resources Inc.'s Greyhound project in central Idaho, marking the commencement of the 2026 field season.

Initial field activities include road and access route maintenance, establishing camp facilities and site visits to priority exploration targets, and to verify drill pad locations.

The 2026 exploration program will include diamond drilling, geological mapping, trenching and geochemical sampling. These programs are intended to enhance the company's understanding of the Greyhound shear zone, refine existing drill targets and identify additional mineralized structures for future exploration.

Initial drilling will focus on the Rufus zone, where the company's 2025 drill program confirmed a broad mineralized shear zone hosting multiple quartz veins associated with gold, silver, lead, zinc and antimony mineralization. Building upon last year's results, the 2026 program is designed to further evaluate the geometry, continuity and structural controls of interpreted higher-grade mineralized shoots within the broader Greyhound shear system.

Beyond Rufus, field crews will continue advancing several emerging target areas, including Republican, Bulldog, Akita, Idaho, Ridge Cut and Birdie. Specifically, continuing mapping, trenching, and sampling will continue to enhance the company's data models and serve to help prioritize targets for future drill testing as exploration progresses across the property.

Dave Nuttall, vice-president of exploration, stated: "While drilling is often the most visible component of an exploration program, the success of any campaign begins with thorough preparation and target validation. The mobilization phase allows us to confirm our geological interpretations in the field and optimize drill targeting before the rig arrives on site. We are particularly excited to return to the Rufus zone, where last year's drilling significantly improved our understanding of the scale and mineralized potential of the system. Our objective this season is to better define the structural controls on mineralization and further evaluate the continuity of higher-grade shoots within the broader shear zone."

The 2026 exploration program builds upon the company's inaugural 2025 campaign, which confirmed silver-gold-antimony mineralization at multiple locations across the Greyhound project and significantly improved the company's understanding of the Greyhound shear zone. Geological modelling and interpretation completed throughout the winter and spring has refined several priority targets that will be evaluated during the current field season.

The company expects drilling to commence following the completion of mobilization activities and final target verification. Additional updates will be provided as exploration progresses throughout the field season.

Fiore Aliperti, president and chief executive officer of Metallis, added: "Having our geological team and service partners back on the ground at Greyhound marks the beginning of what we expect will be an exciting and highly productive field season. The work completed during last year's inaugural drill program has given us a much stronger understanding of the project and increased our confidence in several priority targets. With drilling, geophysics, geological mapping and surface exploration planned across the property, we expect to generate a steady flow of meaningful news as the season progresses while continuing to unlock the broader potential of the Greyhound property."

About the Greyhound property

In February, 2024, the company optioned the Greyhound property, located in Custer county, Idaho, approximately 42 kilometres 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-kilometre Greyhound shear. In 2024, the company staked additional land around Greyhound for a total current property size of 673 hectares.

The Greyhound mineralization is hosted by prominent shear zones with polymetallic quartz-sulphide veins containing elevated concentrations of gold, silver, antimony (a critical mineral), lead, and zinc.

Greyhound shares certain geological characteristics with the Lucky Friday mine in northern Idaho. Both properties exhibit vein mineralization occurring as fracture-fillings, disseminations, and tabular masses of galena and tetrahedrite along with accessory pyrite in a gangue of siderite, calcite and quartz. The Lucky Friday zone is a singular, curved tabular body that dips almost vertically. The vein at Lucky Friday has a strike length of up to 450 m and a width that varies from centimetres to as much as six m. The average varies from 1.2 to 1.8 m over the full length (SLR, 2022).

Metallis states that while the Lucky Friday mine may share some geological similarities with the Greyhound property, no representation is made that comparable results will be achieved at Greyhound.

Qualified person

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

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 northwest British Columbia's Golden Triangle and at the Greyhound property, a gold/silver/antimony property in Idaho, United States.

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 101,018,836 common shares issued and outstanding.

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