Overview

La Plata Copper-Silver-Gold-PGE Project (100%-owned):

• 9.5% strategic equity investment by Newmont Mining completed May 2023. Technical committee formed provides access to team of Newmont technical specialists.
  
  
• The 2026 MRE expands the Inferred Resource tonnage by 23% and, for the first time, incorporates platinum, palladium, and gold, supported by an additional 4,530 metres of diamond drilling since the 2023 resource.
  
  
• The updated resource totals 181.4 million tonnes (Mt) at an average grade of 0.36% copper equivalent (CuEq) (0.33% Cu and 2.9 g/t Ag), containing 1.31 billion pounds of copper and 17.0 million ounces of silver, or 1.46 billion pounds CuEq, constrained within a block-cave-optimized underground mining shape. A 45.4 Mt subset includes 91,000 oz Pt, 121,000 oz Pd, and 60,000 oz Au, totaling 272,000 oz PGE+Au at 0.18 g/t PGE+Au (0.06 g/t Pt, 0.08 g/t Pd, 0.04 g/t Au).
  
  
• 2023 updated NI 43-101 Inferred Mineral Resource Estimate of 1,317 lbs CuEq consisting of 147.3 Mt at an average grade of 0.41% CuEq (0.37% Cu and 3.72 g/t Ag) announced July 2023.1
  
  
• Updated resource was based on 2022 drilling which intercepted 816.0 m of 0.41% CuEq (0.30% Cu, 2.47 g/t Ag, 0.04 g/t Au, 0.06 g/t Pt and 0.09 g/t Pd) with the final 5.2 m grading 5.39% CuEq (2.44% Cu, 18.7 g/t Ag, 0.47 g/t Au, 1.76 g/t Pt and 2.78 g/t Pd) and ending in mineralization. 2
  
  
• The 4,530 m of 2023 drilling is leading towards an updated Mineral Resource Estimate expected to be finalized around the end of 2025 that will likely include a new subset of Pt, Pd and Au with the main resource elements of Cu and Ag from previous estimates.
  
  
• 2024 activities included target refinement work consisting of surface mapping and soil and rock sampling on several of the 16 high-priority targets within the 10 sq km footprint of the alkalic porphyry system in preparation for future drill testing.
  
  
• Located in the prolific high-grade La Plata mining district of Colorado, USA.
  
  
• Central porphyry Cu-Ag-Au + PGM system with 16 identified mineralized intrusive centers, surrounded by high-grade Ag and Au-rich epithermal system hosting 56 identified vein, replacement and breccia structures.
  
  
• Historical high-grade Ag and Au production from the 1870s to the 1940s with 15 to 30 Oz/t (500 to 1,000 g/t) Ag and + 1.0 Oz/t (30 g/t) Au grades.3
  
  
• Explored by Bear Creek (Rio Tinto), Exxon and Phelps Dodge (Freeport McMoRan) between the 1950s and the 1970s focused on bulk tonnage disseminated and stockwork porphyry Cu mineralization.
  
  
• For community focused project information see https://laplataproject.com/
  
  
• For a virtual tour of the La Plata Project click here.

Keno Silver Project (100%-owned):

• 171 square kilometre brownfields project is the second-largest land position adjacent to Hecla Mining’s mining operations in the historic, ultra-high-grade Keno Hill Silver District of Canada's Yukon Territory.
  
  
• Inaugural 43-101 Inferred Mineral Resource Estimate announced February 2024 consisting of 18.2 Moz AgEq grading 223.0 g/t AgEq (120.0 g/t Ag, 0.10 g/t Au, 0.80% Pb and 1.77% Zn) in four distinct deposits combining bulk tonnage and high-grade underground mining opportunities.4
  
  
• Each deposit is within 250 m depth from surface and completely open at depth and along strike in all directions.
  
  
• The Keno Silver project area hosted eight historical mines, including five with average recovered grades above 5,000 g/t Ag.5
  
  
• There are 11+ target areas that have returned positive results from initial drill testing to date and 40 additional targets identified on the 171 Sq Km project since 2016 remaining undrilled.
  
  
• Resource expansion drilling at the Formo deposit and discovery target drill testing at the Rain and Shine vein target was conducted in 2024.
  
  
• The district features excellent access infrastructure and available grid power.

Klondike Gold District Royalties:

• Over 20 Moz have been produced from the Klondike since its discovery in 1898. 6
  
  
• Australia Creek and Dominion Creek are the upstream continuation of the largest alluvial producers in the Yukon. These large-scale alluvial mining operations produce 50% of the gold in the Yukon.
  
  
• Metallic receives a 10-15% production royalty from experienced mining operators.
  
  
• There is room for royalty expansion with the potential for up to 10 operations once fully developed.
  
  
• The Company has received royalty revenue from alluvial operations in both 2023 and 2024 and expects to expand operations with the announcement of new operators in 2025.

Footnotes

1. See La Plata News Releasedated September 14, 2023.
2. See La Plata News Release dated February 28, 2023.
3. Historic La Plata production grades: Geology and Ore Deposits of the La Plata District Colorado – Eckel, Williams, Galbraith, 1949.
4. See Keno Silver News Release dated February 26, 2024 and Technical Report dated April 11, 2024.
5. https://pubs.usgs.gov/pp/0219/report.pdf (report.pdf) Historic production data from Cathro, R.J., 2006. Great mining camps of Canada - The history and Geology of the Keno Hill Silver Camp, Yukon Territory, Geoscience Canada Vol. 33.
6. Yukon Geological Survey (“YGS”) Yukon Placer Mining Industry Report 2010-2014.