METALLIS PROVIDES CORPORATE UPDATE AND OUTLINES 2026 EXPLORATION PROGRAM AT GREYHOUND PROPERTY

Metallis Resources Inc. (MTS) issued a corporate update on February 19, 2026, summarizing 2025 exploration results and outlining plans for the 2026 field season at its Greyhound Property in Idaho. The company reported rock sampling results with grades reaching up to 2,882 g/t AgEq, 5.9 g/t Au, and 1,555 g/t Ag.

Management confirmed the completion of its first-ever drill program, which totaled 1,605 meters across the Birdie and Bulldog targets. The company is now focusing on target refinement and logistical planning for an expanded 2026 program. CEO Fiore Aliperti stated a desire to shorten the timeline from discovery toward potential extraction, citing a strong silver market.

Metallis Resources Inc. (MTS) released news regarding surface grades from rock and grab samples, which were described as exceptionally high but selective in nature and not representative of the true scale of the deposit. The company outlined plans for further work in 2026, including an "expanded" program intended to shorten the timeline to extraction. However, the announcement did not include new drill assays.

Historically, the market reacted negatively to similar high-grade announcements. On December 4, 2025, the stock plummeted from a high of $0.55 to the mid-$0.20s on massive volume of 3.3 million shares after the company announced high-grade discovery results of 795 g/t AgEq over a narrow 1.48-meter intercept. That sell-off suggested investor disappointment with the lack of width in the discovery.

Fundamentally, the confirmation of an expanded program indicates a need for significant capital that Metallis Resources Inc. does not currently appear to have on hand based on its most recent financials. The company does not yet have a NI 43-101 compliant resource estimate or a Preliminary Economic Assessment (PEA).

Metallis Resources Inc. (MTS) is a Canadian explorer focused on the Greyhound Property in Custer County, Idaho. The property is a past-producing silver, gold, and antimony camp located near Perpetua Resources’ Stibnite mine.

The company’s flagship asset is the 673-hectare Greyhound Property, with a secondary focus on the Kirkham Property in the Golden Triangle, BC. Metallis is targeting high-grade polymetallic shear zones, leveraging the "critical minerals" narrative regarding antimony (Sb), which contributes roughly 20% of the in-situ value.