METALLA INCREASES ITS COTE & GOSSELIN ROYALTY TO 1.5% AND PROVIDES PORTFOLIO UPDATES

The news, dated November 3, 2025, announces that Metalla has acquired the remaining 0.15% Net Smelter Return (NSR) royalty on the Côté Gold Mine and Gosselin deposit for C$3.4 million in cash. This acquisition increases Metalla's total NSR royalty on the project to 1.5%. The release also includes general updates on its royalty portfolio, highlighting operator IAMGOLD's continued drilling and development at the Côté-Gosselin complex.

This is a material and strategically sound acquisition. While the incremental 0.15% may seem small, it meaningfully increases Metalla's exposure to what is arguably its most important, tier-one asset.

• Strategic Bolt-on: The Côté-Gosselin complex is a cornerstone asset for Metalla. This transaction demonstrates management's confidence and discipline in consolidating its position on a world-class, long-life Canadian gold project. Paying C$3.4 million in cash shows a commitment to deploying capital into their best assets.

• Asset Validation: The value of royalties on this project was significantly highlighted in May 2025 when Franco-Nevada acquired a separate royalty on the same asset for over US$1 billion. This third-party validation de-risks the asset's perceived value, and Metalla's move to increase its stake is a logical follow-on.

• Embedded Growth: IAMGOLD, the operator, is aggressively exploring and developing the Gosselin deposit with a planned 45,000-metre drill program in 2025. The stated goal is to integrate Gosselin into the main Côté mine plan by the end of 2026. Metalla benefits from this exploration and potential expansion at no additional cost.

• Financial Impact: The C$3.4 million cash payment will utilize approximately one-third of the company's C$9.9 million cash balance as of June 30, 2025. While this reduces liquidity, the company has its new revolving credit facility (RCF) for flexibility. This is a prudent use of cash to acquire a future cash-flowing asset rather than speculative exploration ground.

Tracing the company's progress over the past year reveals a significant transformation. In late 2024, the company was dealing with an expensive convertible loan and a stock price under C$4.00. The key turning point was the June 2025 refinancing, which retired the convertible debt in favor of a traditional RCF with major banks. This, combined with production commencing at Tocantinzinho and La Guitarra, and positive developments across the portfolio (notably the Franco-Nevada deal and the Mitsubishi investment in Copper World), has propelled the stock upwards.

This latest acquisition fits perfectly into the narrative of a company maturing, strengthening its balance sheet, and consolidating its best assets. It is a confident, value-accretive move that should be well-received by the market.

Metalla Royalty & Streaming Ltd. is a precious metals royalty and streaming company. It acquires royalties and streams on mines and development projects, providing shareholders with leveraged exposure to commodity prices and exploration success without the risks of mine operation.

The company's portfolio is now anchored by several key assets, with the Côté Gold Mine and adjacent Gosselin deposit in Ontario, Canada, emerging as the flagship asset. Operated by IAMGOLD, Côté is a new, large-scale, long-life open-pit gold mine in a top-tier jurisdiction. Metalla's 1.5% NSR on this project represents a significant source of future, long-term cash flow and value for the company.