Mr. Fiore Aliperti reports

METALLIS REPORTS STRONG PROGRESS FROM MID-SEASON DRILLING AT GREYHOUND, IDAHO

Metallis Resources Inc. has provided an update on its 2025 diamond drilling campaign at the Greyhound property in central Idaho, United States. To date, seven drill holes have been completed, totalling 1,143 metres, with drilling now advancing to the final target area at Birdie. The property hosts numerous historical workings and offers significant untapped exploration potential, with this year marking the first-ever drill testing of these targets.

The Greyhound is characterized by extensive shear zones that contain polymetallic quartz-sulphide veins hosting silver, gold and antimony mineralization associated with sphalerite, galena and stibnite. This multimetal profile enhances the strategic importance of property, as antimony contributes roughly 20 per cent of the in-situ value alongside silver and gold. Following recent supply disruptions and export restrictions from China, antimony's role as a critical mineral has further underscored the potential value of the project. Importantly, the Greyhound can be advanced based on strong silver-gold fundamentals while retaining significant strategic supply potential from antimony.

Dave Dupre, vice-president of exploration, commented: "This year's drill program has delivered consistently encouraging results as the team works to complete as much as possible before the end of the season. To date, 1,143 metres have been drilled across seven holes targeting the Bulldog and the 1350' zones. The drill has now mobilized to the Birdie target where an additional four holes are planned. We are highly encouraged by what we have seen so far and are excited to be just starting exploration on the exciting Greyhound property."

1350' target

Drilling at the 1350' has expanded a high-grade silver-gold-antimony zone identified from historic mining. The drill holes targeted several zones near the Lower Rufus adit where historical channel sampling along a 36.9 m length of this adit returned 1.85 grams per tonne Au (gold) and 785 g/t Ag (silver) (10.6 g/t AuEq (gold equivalent)). The 2025 drill plan involved intercepting the shear zone above and below the adit as well as the zone 70 m along strike to the south.

Three drill holes totalling 659.8 m from a single pad have intercepted strong sulphide mineralization over substantial lengths in each hole. Shear zones have varied from seven m to 25 m (with unknown true width) and contained sulphides such as arsenopyrite, pyrite, galena, sphalerite and stibnite, all correlative to silver mineralization. The mineralized shear zone has now been traced over 100 m vertically and 70 metres horizontally. With three definitive intercepts, the team is now better able to constrain the morphology of the mineralized shear zone.

Bulldog target

At the Bulldog target, four holes totalling 483.6 metres were drilled from two pads centred on a 12-metre-wide silver-gold-antimony shear zone where surface samples returned up to 4.9 per cent Sb and 3,360 g/t Ag. Drilling has confirmed semi-massive sulphide zones hosted in quartz-sulphide veins containing pyrite, arsenopyrite, and trace sphalerite, galena and stibnite.

Structural analysis revealed east-dipping geometries not previously identified, while postmineral dikes in holes GH25-01 and GH25-04 may have locally offset mineralization. Multiple mineralized veins were encountered across several holes, suggesting the system is more laterally extensive than initially interpreted.

Birdie target

Four drill holes are planned at the Birdie target totalling approximately 500 m. The drill is currently collared at the Upper Birdie where two scissored drill holes are planned underneath the upper portal. Two more holes are planned off another pad, 50 m southeast at the lower Birdie. The Birdie target is located on a parallel trend to the main Greyhound shear. The results of drilling are expected to increase our understanding of parallel shear zones.

Significant gold and silver have been found at the Birdie target, where two trench cuts located 70 m apart as well as historic adits both revealed a sizeable shear zone with quartz sulphide veins of one to three m total width. An 80-centimetre float rock from the Upper Birdie cut yielded 4,900 g/t Ag with other samples nearby returning up to 67.0 g/t AuEq. A 50 cm quartz sulphide vein sampled from Lower Birdie cut returned 18.15 g/t Au. These findings emphasize the Birdie as a gold-rich zone and highlight the exceptional gold values that were historically overlooked.

About the Greyhound property

In February, 2024, the company optioned the property which is located in Custer county, Idaho, approximately 42 km 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 km Greyhound shear.

The Greyhound targets are hosted by prominent shear zones with polymetallic quartz-sulphide veins containing elevated concentrations of gold, silver, antimony (a critical mineral), lead and zinc. They are comparable with numerous mines in North Idaho's Silver Valley along Interstate 90. This famous district is one of the most prolific silver districts in the world. The total quantities produced are impressive: over a billion ounces of silver, three million tons of zinc and eight million tons of lead totalling over $6-billion in value, ranking the Silver Valley among the top 10 mining districts in world history.

Qualified person

David Dupre, 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 on its 100-per-cent-owned Kirkham property in Canada, situated in northwest British Columbia's Golden Triangle, and on the Greyhound property, a gold/silver/antimony target in Idaho, U.S.

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