Metallic Minerals Corp. announced the first National Instrument 43-101 mineral resource estimate (the "2024 Resource Estimate") on the Company's Keno Silver project, adjacent to Hecla Mining's ("Hecla") high-grade operations in the iconic Keno Silver District of Canada'sYukon Territory. Subsequent campaigns, expected to commence in the 2024 field season, will focus on expansion through the drilling of extensions of current resource deposits, definition drilling of very prospective early-stage drilled targets and targeting of new discoveries at high-priority targets that have yet to be drill tested.

This 2024 Resource Estimate is contained within four of 11 target areas that have returned positive results from initial drill testing to date, with 42 additional targets identified on the 171 square kilometer project since 2016 remaining, as yet, undrilled. Having identified the productive structures and defined this very significant mineral resource, the Company expects to be able to add significant ounces during subsequent drill campaigns. The 2024 Resource Estimate was completed by SGS Geological Services ("SGS") based on 293 surface diamond core and reverse circulation drill holes totaling 17,654.6 meters.

The Keno Silver Project 2024 Resource Estimate is an important milestone following acquisition of most of the land package from 2016 to 2018 on the less explored eastern and southern extensions of the Keno Hill district. In May 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited (acquired by Newmont Corporation in November 2023) to accelerate the advancement of the La Plata project. A 4,500-meter drill program focused on expanding the current mineral resource and testing extensions of strong porphyry-style mineralization was completed in December 2023 with results pending.

In Canada'sYukon Territory, Metallic Minerals has consolidated the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla Mining Company's operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. The new 2024 Resource Estimate at the Company's Keno Silver Project adds 18.16 Moz silver equivalent (including 9.81 Moz silver) to the district, representing an 8.4% increase to the district's total silver resource. The Mineral Resource Estimate for the Keno Silver Project was completed by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services.

Dr. Armitage has reviewed and approved the technical content regarding the Mineral Resource Estimate in this news release. Taylor Haid, P.Geo, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure, not pertaining to the resource estimate, contained in this news release. Of Langley, British Columbia for the 2023 drill program at the Keno Silver Project.