Metalla Royalty lifts Cote-Gosselin royalty to 1.5%

Executive Summary

• Metalla Royalty & Streaming Ltd. completed the acquisition of the remaining 0.15% interest in the Cote/Gosselin NSR royalty for $3.4 million, increasing its total holding to 1.5%.
• The release provides significant operational updates across Metalla’s portfolio, including production guidance increases at Wharf, expansion plans at La Guitarra, and restart timelines for La Parrilla.
• Key exploration and operational milestones were reported for Endeavor (resumption of operations post-incident and new discovery) and San Luis (significant high-grade drill intercepts).

Key Details

• Cote/Gosselin Acquisition:
  • Metalla acquired the remaining 0.15% interest in the Cote/Gosselin NSR royalty from an arm's-length seller.
  • Total consideration: $3.4 million in cash.
  • New consolidated holding: 1.5% NSR.
  • Cote mine reached commercial production in August 2024 (first gold in March 2024) with a nameplate capacity of 36,000 tonnes per day.
  • Iamgold plans to drill 45,000 metres at Gosselin in 2025; updated mineral reserves/resources and technical report expected by year-end 2026.
• La Guitarra (Sierra Madre Gold & Silver):
  • Metalla holds a 2.0% NSR royalty.
  • Two-stage expansion plan: Capacity to increase from 500 tpd to 750-800 tpd by Q2 2026, and further to 1,200-1,500 tpd by Q3 2027.
  • $3.5 million exploration program announced on Oct 23, 2025, targeting the East district with 20,000-25,000 metres of drilling.
• La Parrilla (Silver Storm Mining):
  • Metalla holds a 2.0% NSR royalty.
  • Rehabilitation activities commenced on Oct 21, 2025.
  • Sulphide circuit expansion to 1,250 tpd underway; SRK Consulting retained to review restart plan.
  • Target restart of operations as early as Q2 2026 (7-9 month rehabilitation period).
• Endeavor (Polymetals Resources):
  • Metalla holds a 4.0% NSR royalty.
  • Operations suspended following a fatal incident on Oct 28, 2025; staged resumption planned.
  • Exploration drilling and concentrate transport expected to commence the week of Oct 31, 2025; personnel return Nov 5, 2025.
  • New massive sulphide zone discovered at the Carpark prospect south of the mine.
• San Luis (Highlander Silver):
  • Metalla holds a 1.0% NSR royalty.
  • Sept 16, 2025: Step-out drilling at Bonita pit returned 7.43 g/t Au and 16.45 g/t Ag over 24.8m, and 3.42 g/t Au and 16.93 g/t Ag over 40.4m.
  • Oct 6, 2025: Discovery of new "Kusy" zone returned 15.56 g/t Au and 74.49 g/t Ag over 23.6m.
• Wharf (Coeur Mining):
  • Metalla holds a 1.0% GVR royalty.
  • Full-year 2025 production guidance increased to 93,000–103,000 ounces of gold (announced Oct 29, 2025).
  • Q3 exploration expenditures: $3 million; Juno expansion and infill drilling completed.

Notable Quotes

• Brett Heath, CEO of Metalla: "The additional 0.15 per cent of the Cote/Gosselin royalty further strengthens our position on one of the most significant gold assets in Canada... By increasing our royalty, we have enhanced our leverage to one of the premier gold assets globally."
• Silver Storm CEO: "With the existing infrastructure in place and recent financings completed, we are taking decisive steps in respect of the Silver Storm's objective of bringing the historic La Parrilla back into production and creating value for our shareholders and the communities of Durango."