Metallic Minerals upsizes bought-deal placement for C$10 million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / June 3, 2026 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF)(FSE:9MM1) (" Metallic " or the " Company ") is pleased to announce that as a result of strong investor demand, the Company has increased the gross proceeds of its previously announced "bought deal" private placement (the " Underwritten Offering ") from C$8,000,230 to C$10,000,620. The Company has entered into an amended agreement with Red Cloud Securities Inc. (" Red Cloud "), as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the " Underwriters "), pursuant to which the Underwriters have agreed to purchase for resale, with the right to arrange for substitute purchasers to purchase, the following: 17,858,000 units of the Company (each, a " Unit ") at a price of C$0.28 per Unit (the " Unit Price ") for gross proceeds of C$5,000,240 from the sale of Units; and 12,988,000 flow-through units of the Company (each, a " Charity FT Unit ", and collectively with the Units, the " Offered Securities ") at a price of C$0.385 per Charity FT Unit (the " Charity FT Unit Price ") for gross proceeds of C$5,000,380 from the sale of Charity FT Units. Each Unit will consist of (i) one common share of the Company (a " Unit Share ") and (ii) one-half of one common share purchase warrant of the Company (each whole warrant, a " Unit Warrant ").

Each Charity FT Unit will consist of (i) one common share of the Company (each, a " Charity FT Unit Share ") and (ii) one-half of one common share purchase warrant of the Company (each whole warrant, a " Charity FT Unit Warrant "). Each Charity FT Unit Share and each half of one Charity FT Unit Warrant comprising a Charity FT Unit will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the " Income Tax Act "). Each whole Unit Warrant and Charity FT Unit Warrant shall entitle the holder to purchase one common share of the Company on a non-flow-through basis (each, a " Warrant Share ") at a price of C$0.40 at any time during the period beginning on the date that is 61 days following the Closing Date (as defined herein) and ending on the date which is 36 months following the Closing Date.

The Company will grant to the Underwriters an option, exercisable in full or in part, up to 48 hours prior to the Closing Date, to purchase for resale up to that number of additional Offered Securities in any combination of Units and Charity FT Units at their respective offering prices for additional gross proceeds of up to C$2,000,000 (the " Underwriters' Option ", and together with the Underwritten Offering, the " Offering "). The Company intends to use the net proceeds from the sale of Units for the exploration and advancement of the Company's La Plata Project in southwestern Colorado, as well as for general corporate purposes and working capital. The gross proceeds from the sale of Charity FT Units will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (the " Qualifying Expenditures ") related to the Company's Keno Silver Project in the Yukon Territory on or before December 31, 2027.