VANCOUVER, BC, July 8, 2026 /CNW/ - Metallis Resources Inc. (TSXV: MTS) (OTCQB: MTLFF) (the "Company" or "Metallis") is pleased to announce that exploration crews have arrived at its Greyhound Project (the "Project" or "Greyhound") 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 (see Figure 1), 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, ongoing mapping, trenching and sampling will continue to enhance our data models and serve to help prioritize targets for future drill testing as exploration progresses across the property.
Dave Nuttall, VP 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 CEO 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 km northwest of the town of Stanley and 35 km south of Perpetua Resources' Stibnite Mine. The property was the center of an active silver mining camp in the early 1900's and at one point contained a smelter and two active mines situated along the 3.5 km 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 centimeters to as much as 6 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.
References
SLR, 2022 Technical Report Summary on the Lucky Friday Mine, Idaho, USA S-K 1300 Report Hecla Mining.
Historical results of rock and chip sampling in the lower Rufus adit cannot be confirmed but are believed to be valid and are presented for completeness of disclosure.
2024-2025 rock, chip, and soil samples were collected by company geologists under supervision from a P.Geo and delivered to an independent analytical laboratory (ALS Labs).
Qualified Person
Dave Nuttall, P.Geo, 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
Metallis Resources Inc. is a Vancouver-based company focused on the exploration for gold, copper and silver at its 100%-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, USA.
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.
On behalf of the Board of Directors:
/s/ "Fiore Aliperti"
Chief Executive Officer, President, and Director
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This Press Release may contain statements which constitute 'forward-looking' statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may," "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements because of numerous factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities' regulatory authorities, including quarterly and annual Management's Discussion and Analysis, which may be viewed on SEDAR at www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected.
Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated, or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
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SOURCE Metallis Resources Inc.
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For further information contact Mr. Aliperti at: Tel: 604-688-5077, Email: info@metallisresources.com, Web: www.metallisresources.com