Metallis Resources samples 2,882 g/t AgEq at Greyhound

Executive Summary

• Metallis Resources provided a corporate update and outlined its 2026 exploration program for the Greyhound property in Idaho, following the completion of its first-ever drill program in 2025.
• The company reported high-grade rock sampling results from the Republican showing, including 2,882 g/t silver equivalent (AgEq), and detailed results from the Birdie target drilling, which evaluated a secondary shear structure.
• The 2026 exploration strategy focuses on expanding drilling at the 1350 zone, testing additional targets like the 500, Akita, and Republican zones, and evaluating near-term development pathways to shorten the timeline to production.

Key Details

• Republican Showing Rock Sampling:
  • Grab sample returned 2,882 g/t AgEq from a 10-centimetre galena-rich interval.
  • Specific grades included: 5.9 g/t Au, 1,555 g/t Ag, 7.0% Zn, 18.5% Pb, and 1.9% Sb.
  • Sample taken from within the historic Republican pit, supporting continuity of the system over the 3.5-kilometre strike length.
• Birdie Target Drilling:
  • Four drill holes completed at Upper and Lower Birdie pads to evaluate a secondary, parallel shear structure located 130 metres northeast of the main Greyhound shear.
  • Drilling intersected granitic to granodioritic intrusive rocks and biotite schists.
  • No significant mineralization was intersected in this secondary structure, but results helped refine the understanding of structural complexity and postmineral dikes.
  • Surface grab samples at Birdie previously returned up to 4,950 g/t Ag and 18.15 g/t Au.
• Bulldog Target Sludge Sampling:
  • Sludge sampling was conducted on holes GH25-03 and GH25-04 due to poor core recovery (75% and 63% respectively) and heavy oxidation.
  • Sludge assays returned silver values 5 to 118 times higher than corresponding core values, with enrichment in lead, antimony, and zinc.
  • Results are considered qualitative only due to limited sample numbers and gravity sorting variability.
• 2026 Exploration Program Plans:
  • Prioritizes stepout and downdip drilling at the 1350 zone (where three holes previously intersected mineralization).
  • Will evaluate the historically mined 500 zone (untested below ~100m depth), Akita zone, and Republican zone.
  • Potential redrilling of the Bulldog area with an east-to-west orientation.
  • Assessment of additional geophysical methods (VLF and drone-based surveys) to refine subsurface targets.
• Property Details:
  • Located in Custer County, Idaho, near Perpetua Resources' Stibnite mine.
  • Total property size is 673 hectares (staked in 2024).
  • Hosts polymetallic quartz-sulphide veins containing gold, silver, antimony, lead, and zinc.
  • Geological similarities noted with the Lucky Friday mine, though no representation is made that comparable results will be achieved.

Notable Quotes

• Fiore Aliperti, President and CEO: "With Greyhound's first-ever drill program complete, our focus has shifted to execution and scale as we prepare for the upcoming exploration season. This includes continued geological interpretation, target refinement, and advancing contractor and logistical planning to enable early mobilization."
• Fiore Aliperti, President and CEO: "In a strong silver market, we believe Greyhound warrants a disciplined but accelerated approach. The system offers multiple development options, and we are currently evaluating pathways that could responsibly shorten the timeline from discovery toward potential extraction."