Mr. Brett Heath reports

METALLA PROVIDES UPDATE ON GOSSELIN & COTE ROYALTY AND 2024 CATALYSTS

Metalla Royalty and Streaming Ltd. has released the 2024 portfolio catalysts and the updated mineral resource estimates for Gosselin, where Metalla holds a 1.35-per-cent net smelter return (NSR) royalty that covers the northern portion of Cote and 100 per cent of the Gosselin deposit. All dollar amounts are in United States dollars unless otherwise indicated, except for per-share amounts.

Iamgold Corp. announced by press release on Feb. 15, 2024, that the updated Gosselin mineral resource estimate increased, for a total of 4.4 million indicated gold ounces in 161.3 million tonnes (Mt) at 0.85 gram per tonne gold (g/t Au), and three million inferred ounces (123.9 Mt at 0.75 g/t Au). This represents an estimated increase of 1.1 million ounces in indicated and 1.3 million ounces in inferred, representing a 32-per-cent and 74-per-cent increase, respectively.

Brett Heath, president and chief executive officer of Metalla, commented: "Gosselin continues to show that it has potential to become a very significant asset. In 2023, we saw an increase of 2.4 million ounces from 57 diamond drill holes totalling 34,790 metres. Gosselin stands as a substantial deposit on its own with 7.4 million ounces. Combined with Cote, they host an estimated measured and indicated mineral resource of 16.5 million ounces, and an additional 4.2 million ounces of inferred resources. This places the project in an elite league among global gold mines of large scale. In the upcoming year, Iamgold indicated that it will focus on further exploration with a 35,000-metre drill hole program at Gosselin, aiming to probe potential extensions of the breccias between resource pits, as well as delving deeper beneath the mineralized envelopes to ascertain the full extent of these promising deposits."

According to Iamgold, drilling to date suggests the Gosselin deposit has the potential to approach similar dimensions as the adjacent Cote deposit. Drill intercepts obtained from the newly discovered West Breccia have significantly expanded this breccia body which now measures 250 metres by 170 metres and extends for a depth of approximately 400 metres. This has helped to highlight a highly prospective corridor at depth measuring up to 850 metres in strike length that remains to be tested between the Gosselin West Breccia and the Cote deposit hydrothermal breccia. This represents a priority exploration opportunity to further expand the Gosselin resource below the 600-metre vertical depth extent of the current 2023 resources pit shell.

For royalty ounce calculation, Metalla estimates 6 per cent of Cote and 100 per cent of Gosselin's mineral resources and mineral reserves are subject to its royalty interest at a rate of 1.35 per cent.

2024 portfolio catalysts:

• G Mining Ventures' Tocantinzinho production expected in H2 2024 (0.75-per-cent GVR);
• Agnico Eagle Mines' amalgamated Kirkland first production anticipated in H2 2024 (0.45-per-cent NSR);
• Polymetals Resources' Endeavor mine financing update and mine restart expected end of 2024 (4-per-cent NSR);
• Agnico Eagle Mines' Wasamac updated development study anticipated in H1 2024 (1.5-per-cent NSR);
• Agnico Eagle Mines' Fosterville mine drilling at Harrier zone and further extensions of Phoenix decline toward royalty boundary (2.5-per-cent NSR);
• Taca Taca environmental and social impact assessment approval expected in 2024 (0.42-per-cent NSR);
• Hudbay Minerals' Copper World mine state environmental permits expected mid-2024 (0.315-per-cent NSR);
• Sierra Madre Gold & Silver's La Guitarra mine restart study anticipated in Q2 2024 (2-per-cent NSR);
• Silver Storm Mining's La Parrilla mine plan technical study expected in Q4 2024 (2-per-cent NSR).

Conversion of interest under convertible loan agreement

Beedie Capital will increase its equity position by electing to convert $1.5-million (Canadian) of the accrued and unpaid interest under the existing convertible loan facility between Metalla and Beedie into 429,800 common shares of Metalla. As per the terms of the convertible loan facility, any accrued and unpaid interest is convertible into common shares of Metalla, at Beedie's request. The interest will be converted at a price of $3.49 (Canadian) per share, being the closing price of the shares on the TSX Venture Exchange on Feb. 20, 2024. The share conversion is subject to the acceptance of the TSX-V and of the NYSE American. Following the share conversion, Beedie will own approximately 9.99 per cent of the company's issued and outstanding common shares. As per the terms of the convertible loan facility the principal amounts outstanding under the facility have a conversion price of $6 (Canadian).

Qualified person

The technical information contained in this news release has been reviewed and approved by Charles Beaudry, geologist, MSc, member of the Association of Professional Geoscientists of Ontario and of the Ordre des Geologues du Quebec. Mr. Beaudry is a QP as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Metalla Royalty and Streaming Ltd.

Metalla was created to provide shareholders with leveraged precious and strategic metal exposure by acquiring royalties and streams. Its goal is to increase share value by accumulating a diversified portfolio of royalties and streams with attractive returns. Its strong foundation of current and future cash-generating asset base, combined with an experienced team, gives Metalla a path to become one of the leading royalty companies.

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