Metallis closes $1,174,550 private placement

Canada NewsWire VANCOUVER, BC , July 29, 2026 /CNW/ -- Metallis Resources Inc. (TSXV: MTS) (OTCQB: MTLFF) ("Metallis" or the "Company") announces that the Company has closed its private placement (the "Financing"), raising $1,174,550 in one tranche. The final amount raised has been adjusted from the first tranche closing of $1,203,950 announced on June 30, 2026, reflecting the non-completion of one subscription. The Financing consists of 7,830,333 units at a price of $0.15 per unit for gross proceeds of $1,174,550.

Each unit consists of one common share and ½ of one non-transferable share purchase warrant. Each full warrant entitles the holder to purchase one additional common share at a price of $0.20 per share for a 3-year period. Finders' fees paid to registered finders consists of $83,764 and 558,426 full warrants, also exercisable at $0.20 per share for a 3-year period.

Finders' fees remain unchanged as first announced on June 16, 2026. Shares and warrants issued on closing are subject to a trading hold period expiring four months plus one day from the date of issuance. The closing of the Financing is subject to receipt of all necessary regulatory approvals and final acceptance by the TSXV.

The proceeds are for exploration at the Greyhound Property and working capital. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirement. 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 has 100,822,836 common shares issued and outstanding, including the Financing. 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.