Star Metro - Metallic Minerals Announces Bought Deal LIFE Private Placement for Gross Proceeds of C$8.0 Million

VANCOUVER, BC / ACCESS Newswire / June 1, 2026 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF)(FSE:9MM1) ("Metallic" or the "Company") is pleased to announce that it has entered into an engagement letter 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 on a "bought deal" basis in a private placement for aggregate gross proceeds of C$8,000,230 (the "Underwritten Offering"):

• 14,286,000 units of the Company (each, a "Unit") at a price of C$0.28 per Unit (the "Unit Price") for gross proceeds of C$4,000,080 from the sale of Units; and

• 10,390,000 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$4,000,150 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 "Over-Allotment 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. All Qualifying Expenditures will be renounced in favour of the subscribers of the Charity FT Units effective December 31, 2026.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offered Securities will be offered for sale to purchasers in all the provinces of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The securities issuable from the sale of Offered Securities are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Units will also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction.

There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at www.metallic-minerals.com. Prospective investors should read this Offering Document before making an investment decision.

The Offering is scheduled to close on June 22, 2026 or such other date as the Company and Red Cloud may agree (the "Closing Date"). Completion of the Offering is subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The securities being offered pursuant to the Offering have not been, nor will they 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 an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Metallic Minerals

Metallic Minerals Corp. is a resource-stage exploration and development company advancing copper, silver, gold, platinum group elements, and other critical minerals at the La Plata project in southwestern Colorado, and high-grade silver, gold, lead and zinc exploration at the Keno Silver project in the Yukon Territory, adjacent to Hecla Mining's Keno Hill silver operations. The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business through partnerships with experienced mining operators.

Metallic is led by a team with a strong track record of discovery and exploration success across multiple precious and base metal deposits in North America and is backed by strategic investment by Newmont Corporation and Eric Sprott. The Company integrates advanced data analytics into its exploration process to support target generation, accelerate discovery, and unlock value across its portfolio.

Metallic's project districts have a history of significant mineral production and benefit from existing infrastructure, including road access and nearby power. The Company's team has been recognized for environmental stewardship practices and is committed to responsible and sustainable resource development, engaging and collaborating with Canadian First Nations, U.S. Tribal and Native Corporations, and local communities to support long-term project advancement.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: metallic-minerals.com Phone: 604-629-7800

Email: [email protected] Toll Free: 1-888-570-4420

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". Forward-looking statements included in this press release includes, but is not limited to, statements with respect to the expectation that the Offering will close in the timeframe and on the terms as anticipated by management, statements regarding the Offering, the anticipated closing date of the Offering, the intended use of proceeds of the Offering, the approval of the Offering by the TSX Venture Exchange. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting timelines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, statements about expected results of operations, royalties, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. The Company notes that Newmont Corporation ("Newmont") is a shareholder; however, Newmont's participation in prior financings should not be construed as a commitment to future funding, operational involvement, or endorsement of the Company's plans. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, unsuccessful operations, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Metallic Minerals Corp

View the original press release on ACCESS Newswire

K.Morrison--SMC