METALLIS COMPLETES SUCCESSFUL INAUGURAL DRILL CAMPAIGN AT GREYHOUND, IDAHO

Metallis Resources Inc. announced on November 6, 2025, the successful completion of its inaugural diamond drill campaign at the Greyhound Property in Idaho. The program involved drilling 1,605 meters across 11 holes, targeting three key prospects: Bulldog, 1350, and Birdie. The company reported intersecting zones of quartz-sulphide veining with visible mineralization during drilling. All collected samples have been sent for analysis, with assay results anticipated in the coming weeks. Dave Dupre, Vice President of Exploration, expressed satisfaction with the program, stating it was a "major success" in enhancing the understanding of the mineralized structures and that the visual results, particularly the continuity of shear zones and the presence of polymetallic sulphides, are encouraging. He emphasized the importance of the upcoming assay data for quantifying observations and guiding future drill campaigns.

This news release confirms the successful execution of a significant operational milestone – the completion of the maiden drill program at Greyhound, which was a planned activity for summer/fall 2025 as indicated in previous releases. The observation of visible mineralization is a positive qualitative indicator, suggesting that the company is intersecting mineralized structures as hoped. This provides preliminary validation for their geological model and target selection.

However, the impact remains Routine - Positive rather than "Material." While the completion of drilling and visual results are encouraging, they do not provide quantitative data on grades or widths, which are essential for determining the economic viability and overall materiality of the discovery. The stock price typically reacts most strongly to actual assay results that quantify mineralization. The market had already been anticipating the drilling campaign and likely some positive visual indications, given the prior news outlining the targets and initial progress.

The news reduces a degree of operational risk associated with completing the program but elevates the importance of the pending assay results. Without these assays, the "success" is largely based on visual interpretation and operational efficiency. The true test of the program's impact will come with the analytical data.

Metallis Resources Inc. (TSX-V: MTS) is a junior mineral exploration company primarily focused on advancing its Greyhound Property in central Idaho, USA. The company acquired an option on Greyhound in February 2024.

Flagship Project: Greyhound Property * Location: Situated in Custer County, Idaho, within the Stibnite mining district, approximately 42 km northwest of Stanley and 35 km south of Perpetua Resources' Stibnite mine. * Historical Context: The property was a center of active silver mining in the early 1900s, featuring a smelter and two active mines along the 3.5-kilometer Greyhound shear. Despite this history, it remained substantially underexplored using modern techniques. * Geology and Mineralization: Characterized by extensive shear zones containing polymetallic quartz-sulphide veins. The primary target minerals are high-grade Silver, Gold, Antimony, along with Lead and Zinc. Antimony is a key focus, recognized as a critical mineral due to its scarcity and strategic applications (defense, energy, semiconductors), contributing an estimated 15-20% of the in-situ value. * Exploration Highlights leading to drilling: * 2024 Field Programs: Conducted geological mapping, rock, and soil sampling, yielding high-grade results. Notable assays included 4.96% Sb, 4,950 g/t Ag, and 18.15 g/t Au from various prospects (Bulldog, 1350, Birdie, Akita). * 2025 Geophysical Surveys: Completed high-resolution drone magnetic and Induced Polarization (IP) surveys in Spring 2025 to delineate structural controls and refine drill targets. * Permitting: Most mineralization lies on patented claims, which simplifies and expedites the permitting process, requiring only a minor county application. * Inaugural Drill Program (Summer/Fall 2025): The company completed a 1,605-meter diamond drilling program across 11 holes, targeting the Bulldog, 1350, and Birdie prospects. Visual observations reported quartz-sulphide veining with visible polymetallic sulphides. Assay results are pending. * Royalties: The Greyhound Property is subject to a 2% Net Smelter Returns (NSR) Royalty, which Metallis has the option to reduce to 1% by paying US$5 million.