Metallic Minerals closes C$10.3 million bought-deal placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / June 22, 2026 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF)(FSE:9MM1) (" Metallic " or the " Company ") is pleased to announce the closing of its previously announced and upsized "bought deal" private placement (the "Offering") for aggregate gross proceeds of C$10,294,335.80, which includes the partial exercise of the underwriters' option. Pursuant to the Offering, the Company sold (i) 18,906,985 units of the Company (each, a "Unit") at a price of C$0.28 per Unit (the "Unit Price") for gross proceeds of C$5,293,955.80 from the sale of Units, and (ii) 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 for gross proceeds of C$5,000,380 from the sale of Charity FT Units. Red Cloud Securities Inc. ("Red Cloud") acted as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters that included ATB Capital Markets Corp. and Integrity Capital Group Inc. (collectively, the "Underwriters") in connection with the Offering.

Each Unit consists 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 consists 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 Charity FT Unit Warrant that comprises a Charity FT Unit qualifies 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 entitles 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 from August 22, 2026 to June 22, 2029. "We are very pleased with the strong investor demand that allowed us to upsize this financing," said Greg Johnson, Chairman and CEO of Metallic Minerals. "This reflects growing recognition of the quality of our copper, silver and critical minerals portfolio - underscored by the recent 23% expansion of our La Plata resource and the first quantification of platinum-group elements and other co-occurring critical minerals - as well as the increasing strategic importance of domestically and responsibly produced critical minerals." "With this additional funding in place, we are positioned for an active year ahead as we advance discovery and resource-growth-focused exploration at our La Plata copper-silver-gold-PGE and critical minerals project in southwest Colorado and at our Keno Silver project in the central Yukon, and continue building out our Yukon gold royalty business.

We remain committed to advancing this work safely and responsibly, in ongoing engagement with the local communities, Tribes and First Nations, who are essential partners in these projects." 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. All Qualifying Expenditures will be renounced in favour of the subscribers of the Charity FT Units effective December 31, 2026.