Newmont exercises participation rights for Metallic Minerals shares

VANCOUVER, BC / ACCESS Newswire / July 21, 2026 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF)(FSE:9MM1) (" Metallic " or the " Company ") is pleased to announce that it has completed a non-brokered private placement with Newmont Corporation (" Newmont "), through a wholly owned subsidiary pursuant to its participation rights under the Investor Rights Agreement ("IRA") dated May 18, 2023. Newmont subscribed for 3,224,700 units (each, a "Unit") of the Company at a price of $0.28 per Unit, for gross proceeds of $902,916, reflecting the same terms as the Company's recently closed $10.3 million bought deal financing in June.

Each Unit consists of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.40 per share for a period of 36 months, commencing 61 days following the closing date.

This private placement maintains Newmont's approximately 9.2% ownership interest in the Company. The Company intends to use the net proceeds to advance exploration and development activities at its La Plata copper-silver-PGE-gold and associated critical minerals project in southwestern Colorado, USA, as well as for working capital and general corporate purposes.

The recently updated 2026 NI 43-101 Mineral Resource Estimate at the La Plata project marks a major milestone for the Company. The updated estimate expands the Inferred resource to 181.4 Mt at 0.36% copper equivalent, containing 1,307 Mlbs of copper and 17.0 Moz of silver (1,455 Mlbs CuEq). This updated estimate incorporates platinum, palladium and gold for the first time, with a 45.4 Mt subset now reporting 91,000 oz Pt, 121,000 oz Pd and 60,000 oz Au totaling ~272,000 oz of platinum group elements plus gold, which along with additional priority critical minerals designated by the U.S. government enhances the overall value and metal diversity of the deposit.

Greg Johnson, Chairman and CEO said, "Newmont has been a valued strategic shareholder since 2023, and we have appreciated the collaboration with their technical team via our IRA technical committee. The recently updated and expanded Allard resource remains open to expansion and the district-scale La Plata project has another 20 developing surface targets, which may represent additional porphyry centers. With these financing activities complete field programs are being initiated with additional updates to follow. The fundamentals for copper and critical minerals remain very strong and underscore La Plata's potential to emerge not only as a significant copper and precious metal (Ag, Au, Pt and Pd) resource, but also as a strategic source of critical minerals in the U.S. that are essential to support advanced technologies, energy transition and domestic economic development."

No fees or commissions were paid related to the private placement. The securities issued under the private placement are subject to a statutory hold period expiring four months and one day following the closing date, in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange. The private placement is subject to final acceptance of the TSX Venture Exchange.