Mr. Greg Johnson reports

METALLIC MINERALS TRIPLES YUKON GOLD ROYALTY OPERATIONS FOR 2026 PRODUCTION SEASON

Metallic Minerals Corp. has provided an update on the growth of its Yukon alluvial gold royalty portfolio, where the company is advancing from a single producing operation into a diversified, multioperator royalty platform across the Klondike goldfields near Dawson City and Mayo goldfields near Keno Hill in the Yukon Territory.

Highlights

• Multioperation royalty platform emerging: Metallic has completed agreements with three experienced operators for the 2026 season across Australia Creek, Dominion Creek and South Keno/Granite Creek. The three operations are now mobilizing and entering start-up ahead of production.
• Over $1.1-million in cumulative royalty production to date: Since royalty production commenced in 2023, the company's initial Australia Creek operation has generated more than $1.1-million in royalty gold value at current gold prices, with 2025 representing the company's largest annual royalty gold production to date.
• Potential record 2026 royalty production year: Metallic is one of the largest holders of alluvial mining claims in the Yukon holding approximately 64 square kilometres. With three operations now in start-up for 2026, Metallic believes the upcoming field season is positioned to deliver a significant step-change in royalty gold production and cash flow compared with the prior years.
• Australia Creek expansion advancing: During 2025, a total of 26 drill holes were completed at Australia Creek to support expansion of the existing operation, together with another 17 exploration holes designed to extend known gold-bearing horizons and identify new areas capable of supporting future operator-based production.
• Additional Australia Creek drilling under way: Drilling is currently under way on the middle and upper blocks at Australia Creek, up-valley from the current lower-block operator, to advance these areas for potential additional operator-based production.
• Dominion Creek moving into production: A second Klondike-area operation commenced test mining at Dominion Creek last fall and mobilization is under way for full production during the 2026 season.
• South Keno/Granite Creek advancing as a new royalty opportunity: Exploration in fall 2025 at Granite Creek included drilling and resistivity geophysics designed to refine subsurface paleochannel gold targets for a potential future operation. The first operating agreement has been signed and mobilization is under way for start-up.
• Differentiated junior model with scalable royalty platform: Metallic combines conventional exploration upside at its La Plata copper-silver-PGE-(platinum group element)-gold and Keno silver projects with growing gold royalty cash flow from broad, underexplored Yukon alluvial paleochannel systems at Australia Creek and Granite Creek capable of supporting multiple, large-scale operations over time.

"Metallic Minerals is building something that is highly unusual among junior exploration and development companies -- a growing gold royalty production business in one of the world's great historic placer gold jurisdictions -- combined with exposure to two advancing district-scale copper and silver assets," stated Greg Johnson, chairman and chief executive officer of Metallic Minerals. "Over the past couple of seasons, our initial Yukon alluvial operations have been growing steadily. With three operator agreements now in place for 2026 and additional areas being advanced, we believe Metallic is positioned for a record year of royalty gold production and cash flow."

Mr. Johnson continued: "The strategic value of this portfolio is its scalability. Australia Creek, Dominion Creek and Granite Creek are large alluvial systems extending over kilometres, with broad valley settings and paleochannel environments capable of supporting multiple operations over time. Our model allows experienced Yukon operators to fund and conduct mining, while Metallic retains exposure to production growth through royalties and continues to advance its core resource stage copper and silver hard-rock exploration assets at La Plata and Keno Silver."

A scalable Yukon gold royalty platform

Metallic's Yukon alluvial royalty portfolio is based on a partnership model with experienced placer mining operators. Under this structure, operators are responsible for mining, equipment, staffing and site-level execution, while Metallic receives royalty exposure to gold production from its 100-per-cent-owned alluvial claims. This model provides Metallic with potential near-term cash flow and gold-price leverage without the capital intensity typically associated with mine development. Royalty rates vary by operator agreement and operating block, generally ranging from 10 per cent to 15 per cent, reflecting the depth and grade of the deposit and infrastructure development needs of the property, and are structured to align operator incentives with sustained production growth across the company's portfolio.

The company believes the Yukon alluvial portfolio could ultimately support as many as 10 operations over time, subject to exploration success, mine planning, permitting, operator agreements, equipment availability, water management and other operational considerations.

Beyond the three areas advancing into 2026 production, Metallic holds additional alluvial claims at Melba Creek and California Creek in the Klondike goldfields, and McKim Creek, Faith Creek and Allen Creek in the South Keno area. These holdings represent further pipeline opportunities for future operator agreements and underpin the company's view that the broader Yukon alluvial portfolio could ultimately support multiple additional operations beyond those currently in start-up.

Australia Creek: flagship Klondike goldfields growth area

Australia Creek is currently Metallic's flagship alluvial royalty growth area. The property lies within the eastern continuation of the prolific Klondike goldfields, the Yukon's largest placer gold-producing region with over 20 million ounces of past production. Metallic holds a 100-per-cent interest in more than 37.8 square kilometres of highly prospective alluvial ground along the Australia Creek and Dominion Creek drainages south of Dawson City.

Despite extensive historic mining elsewhere in the Klondike, Australia Creek itself was not historically mined because it served as a source of water and hydroelectric power for historic dredging operations in the region. Recent exploration and mining have demonstrated the potential for Australia Creek to host gold-bearing gravels comparable with some of the most productive areas of the Klondike.

During 2025, approximately 26 drill holes were completed at Australia Creek to support expansion of the existing operation and a fall program completed another 17 exploration holes designed to extend known gold-bearing horizons and identify additional areas capable of supporting future operator-based production. The current Australia Creek royalty agreement covers the lower-block area, where production is continuing, while drilling is currently under way on the middle and upper blocks up-valley to advance these areas for potential additional operator-based production, further demonstrating the potential for multiple operations along the Australia Creek valley system.

Dominion Creek: second klondike operation moving toward production

Dominion Creek provides Metallic with a second Klondike-area source of potential royalty production. Dominion Creek is a well-established gold-producing area representing one of the largest producing areas within the broader Klondike goldfields. The operation commenced test mining in late 2025 and mobilization of equipment is under way to support full production during the 2026 season.

The company believes Dominion Creek represents an important step in the evolution of its Yukon alluvial royalty portfolio, expanding Metallic's royalty exposure beyond Australia Creek and supporting the transition toward a multioperation production platform.

South Keno/Granite Creek: new district-scale royalty opportunity

At South Keno/Granite Creek, Metallic is advancing a second district-scale alluvial royalty opportunity within the Mayo goldfields south of the Keno Hill silver district. The company's 100-per-cent-owned South Keno alluvial property covers approximately 25.7 square kilometres, which was recently expanded with additional claims, and partly overlaps Metallic's high-grade Keno silver project, which sits adjacent to Hecla Mining's producing Keno Hill operations -- the largest primary silver producer in both the United States and Canada, and a district hosting more than 300 million ounces of silver in past production and current reserves and resources. The South Keno area is noted for coarse gold and thick, stacked gold-bearing horizons, offering potential for large-scale alluvial operations.

Recent work at Granite Creek included a fall 2025 reverse circulation drill program and ground-based resistivity geophysical surveys designed to refine subsurface stratigraphy, identify buried channel targets and prioritize areas with potential to support future production and expand the known gold-bearing zones from adjacent up-valley operations that have produced over 12,000 ounces over the last several years.

The 2025 program at Granite Creek confirmed a laterally extensive, thick gold-bearing alluvial system with all seven RC drill holes returning visible gold flakes within the gravel units. The average thickness of the gold-bearing horizons was 14.8 metres (48.7 feet) starting from seven to 12 m (25 to 40 ft) depth across the seven drill holes.

This initial work program confirmed the presence of gold-bearing gravels, while resistivity surveys have mapped the subsurface stratigraphy and defined the gold-hosting units. Metallic believes Granite Creek may represent a sizeable paleochannel-hosted alluvial gold system with potential for multiple phases of operator-based development. Mobilization of equipment is under way to begin test mining at Granite Creek in 2026.

A differentiated junior exploration and royalty model

Metallic believes its Yukon alluvial royalty portfolio represents a differentiated and increasingly valuable component of the company's business. Unlike many junior exploration companies that rely solely on equity financing while advancing exploration-stage assets, Metallic has established a growing gold royalty production platform in proven Yukon mining districts.

The company's broader portfolio provides investors with exposure to precious metals, copper, platinum group elements and critical minerals in top-tier North American jurisdictions, while the Yukon alluvial portfolio provides near-term gold-price leverage and potential non-dilutive cash flow.

About Metallic Minerals Corp.

Metallic Minerals is a resource-stage exploration and development company focused on advancing copper, silver, gold, platinum group elements and other critical minerals at the La Plata project in southwestern Colorado, and high-grade silver 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 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 is committed to responsible and sustainable resource development, engaging, and collaborating with Canadian first nations, United States tribal and native corporations, and local communities to support long-term project advancement.

Upcoming events

Metallic's management team will be attending several upcoming key industry events over the coming months and welcomes the opportunity to meet with investors and stakeholders:

• Global Commodities Expo Washington DC -- Washington, D.C., U.S., May 17 to May 19, 2026;
• Global Commodities Expo Florida -- Ft. Lauderdale, Fla., U.S., May 20 to May 22, 2026;
• Western Mining Summit 2026 -- Denver, Colo, U.S., May 20 to May 22, 2026.

Qualified person

The scientific and technical information contained in this news release 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.

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