Mr. Brett Heath reports

METALLA REPORTS PORTFOLIO UPDATES

Metalla Royalty and Streaming Ltd. has released the following recent developments in its royalty portfolio (all dollar amounts are in U.S. dollars unless otherwise indicated):

• Wharf (1.0-per-cent gross value return royalty): gold measured and indicated resources more than doubled; gold inferred resources more than tripled;
• Endeavor (4.0-per-cent net smelter royalty): production on track for second quarter 2025 with $35-million (Australian) equity capital raise funding secured for the growth of Endeavor mine;
• Taca Taca (0.42-per-cent NSR): key environmental and social impact assessment milestones met in fourth quarter 2024 and updated National Instrument 43-101 in progress ahead of expected Incentive Regime for Large Investments incentive regime application;
• Wasamac (1.5-per-cent NSR): initial declaration of mineral reserves with further technical evaluation and exploration continuing;
• Hoyle Pond (2.0-per-cent NSR): new operator brings fresh perspective to exploration;
• Amalgamated Kirkland (0.45-per-cent NSR): 2025 guidance of 10,000 ounces gold and 50,000 to 60,000 oz gold in 2026 and 2027.

Wharf (1.0-per-cent GVR)

Metalla holds a 1.0-per-cent gross value return royalty on Coeur Mining Inc.'s Wharf mine in the Black Hills, South Dakota, United States.

On Feb. 18, 2025, Coeur announced that mine optimization initiatives drove a substantial increase in mineral resources, positioning Wharf for significant mine life extensions as infill drilling is expected to accelerate in 2025. At year-end, proven and probable reserves totalled 757,000 oz at 0.81 gram per tonne gold, measured resources totalled 175,000 oz at 0.53 g/t gold, indicated resources totalled 845,000 oz at 0.53 g/t gold, and inferred resources totalled 470,000 oz at 0.56 g/t gold.

For more information, please view Coeur Mining's Feb. 18, 2025, press release.

Endeavor (4.0-per-cent NSR)

Metalla holds a 4.0-per-cent net smelter return royalty on Polymetals Resources Ltd.'s Endeavor project in Cobar, Australia.

On Feb. 10, 2025, Polymetals announced a $35-million (Australian) single-tranche equity capital raise to strengthen the balance sheet as Polymetals transitions toward first production at the Endeavor mine in second quarter 2025. Polymetals also stated it will accelerate near-mine and regional exploration activities. With a pro forma cash position of approximately $37-million (Australian) and access to approximately $26-million (Australian) in undrawn debt finance facilities, Polymetals is well positioned for the capital required for the near-term Endeavor mine restart.

Polymetals continues to reiterate that first production is expected in April, 2025, and first cash flows in May, 2025.

For more information, please view Polymetals Resources' Feb. 10, 2025, press release.

Taca Taca (0.42-per-cent NSR)

Metalla holds a 0.42-per-cent NSR royalty on First Quantum Minerals' Taca Taca project in Salta, Argentina.

On Feb. 11, 2025, First Quantum reported that key ESIA milestones were met during the fourth quarter 2024, including an independent evaluation by Segemar (Argentine Geological and Mining Service). The ESIA continues to be reviewed by the secretariat of mining of Salta province.

First Quantum is preparing an update of the Taca Taca National Instrument 43-101 technical report, and plans to submit an application for the RIGI regime, a new incentive regime for large investments.

For more information, please view First Quantum's management's discussion and analysis dated Feb. 11, 2025.

Wasamac (1.5-per-cent NSR)

Metalla holds a 1.5-per-cent NSR royalty on Agnico Eagle Mines Ltd.'s Wasamac mine near Rouyn-Noranda, Canada.

On Feb. 13, 2025, Agnico reported the initial declaration of proven and probable mineral reserves of 1.38 million ounces at 2.9 grams per tonne gold, an indicated resource of 667,000 oz at 2.19 g/t gold (exclusive), and inferred resources were 312,000 oz at 1.65 g/t gold. This is the first declaration of mineral reserves by Agnico at Wasamac since its acquisition from Yamana Gold Inc. in 2023.

Agnico reported that it plans to spend $2.3-million for 10,000 metres of drilling at Wasamac in 2025, and an additional $6.8-million is expected to be spent in 2025 for further technical evaluation to assess various scenarios regarding optimal mining rates and milling strategies.

For more information, please view Agnico Exploration press release dated Feb. 13, 2025.

Hoyle Pond (2.0-per-cent NSR)

Metalla holds a 2.0-per-cent NSR royalty on a portion of Discovery Silver Corp.'s planned acquisition of the Hoyle Pond mine.

On Jan. 27, 2025, Discovery Silver announced the acquisition of Newmont Corp.'s Porcupine complex, including the Hoyle Pond underground mine. Discovery Silver outlined significant opportunities that exist to increase production, reduce costs and extend mine life at Hoyle Pond through improved ventilation systems, material handling and backfill systems, and increased automation. In addition, Discovery Silver plans to evaluate zones of mineralization that currently do not have mineral resource estimates and were not included in the life-on-mine plan, specifically the TVZ zone.

Metalla's 2.0-per-cent NSR royalty covers the main production zone called the S vein and portions of the TVZ zone, subject to a 500,000-ounce-gold exemption. Metalla also holds a 2.0-per-cent NSR royalty on a claim block which partially covers the TVZ zone, which is not subject to the exemption.

For more information, please view Discovery Silver's Jan. 27, 2025, press release.

Amalgamated Kirkland (0.45-per-cent NSR)

Metalla holds a 0.45-per-cent NSR royalty on Agnico's Amalgamated Kirkland project near Kirkland Lake, Canada.

On Feb. 13, 2025, Agnico announced that AK ores will be processed at the LZ5 mill at LaRonde beginning in the fourth quarter of 2025. Production from the AK deposit is forecast to be approximately 10,000 oz gold in 2025, and 50,000 to 60,000 oz gold in 2026 and in 2027, respectively.

For more information, please view Agnico Eagle's Feb. 13, 2025, press release.

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 provides shareholders with leveraged gold, silver and copper 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.

Technical and third party information

Metalla has limited, if any, access to the properties on which Metalla holds a royalty, stream or other interest. Metalla is dependent on: (i) the operators of the mines or properties and their qualified persons to provide technical or other information to Metalla; or (ii) publicly available information to prepare disclosure pertaining to properties and operations on the mines or properties on which Metalla holds a royalty, stream or other interest, and generally has limited or no ability to independently verify such information. Although Metalla does not have any knowledge that such information may not be accurate, there can be no assurance that such third party information is complete or accurate. Some information publicly reported by operators may relate to a larger property than the area covered by Metalla's royalty, stream or other interests. Metalla's royalty, stream or other interests can cover less than 100 per cent and some times only a portion of the publicly reported mineral reserves, resources and production of a property. Ounces are converted to grams using a multiple of 31.1035.

Unless otherwise indicated, the technical and scientific disclosure contained or referenced in this alert, including any references to mineral resources or mineral reserves, was prepared in accordance with Canadian NI 43-101, which differs significantly from the requirements of the U.S. Securities and Exchange Commission applicable to U.S. domestic issuers. Accordingly, the scientific and technical information contained or referenced in this alert may not be comparable with similar information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC.

Inferred mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.

We seek Safe Harbor.