June 20, 2024 – Vancouver, BC – Metallic Minerals Corp. (TSX.V: MMG; OTCQB: MMNGF) (“Metallic Minerals” or the “Company”) s pleased to announce a non-brokered private placement of up to 5,000,000 flow-through common shares (the “FT Common Shares”) of the Company at a price of $0.40 per FT Common Share for gross proceeds of up to $2,000,000 (the “Offering”). Red Cloud Securities Inc. of Toronto, Ontario, has been engaged on a “best efforts” basis for the Offering.

Proceeds from the Offering are intended to be used toward eligible Canadian Exploration Expenses, within the meaning of the Canadian Income Tax Act, at the Company’s high-grade Keno Silver project and the Company’s alluvial gold royalty portfolio in Canada’s Yukon Territory.

The Company may pay finders’ fees under the Offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. Closing is expected to occur on or around June 24, 2024.  All the securities issued are subject to a hold period of four months and one day from their date of issuance, under applicable Canadian securities laws. Completion of the private placement is subject to TSX-V final approval.

The FT Shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Metallic Minerals

Metallic Minerals Corp. is a resource-stage mineral exploration company, focused on copper, silver, gold, and platinum group elements in top North American mining jurisdictions. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.

At the Company’s La Plata project in southwestern Colorado, the expanded NI 43-101 mineral resource estimate highlights a significant porphyry copper-silver resource containing 1.2 Blbs copper and 17.6 Moz of silver, with numerous additional targets showing potential for a district scale porphyry system. In May 2023, the Company announced a 9.5% strategic investment by Newmont Corporation (previously Newcrest Mining which was acquired by Newmont Corporation in November 2023). The U.S. Geological Survey (“USGS”) has identified the La Plata mining district as a potential critical minerals resource area under the Earth Mapping Resources Initiative program and in 2023 completed significant geologic and geophysical studies to enhance understanding of the critical mineral occurrence in the district.

In Canada’s Yukon Territory, Metallic Minerals has 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 18.2 Moz silver equivalent to the Company’s total resources. Hecla is the largest primary silver producer in the USA and soon to be Canada’s largest with full production at its Keno Hill operations in 2024.

The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators.

Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in North America, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team is committed to responsible and sustainable resource development and has worked closely with Canadian First Nation groups, US Tribal/Native Corporations, and local communities to support successful project development.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com                                         Phone: 604-629-7800

Email: cackerman@mmgsilver.com                                    Toll Free: 1-888-570-4420