METALLIC MINERALS CORP - MMNGF STOCK NEWS

Metallic Minerals (MMNGF) has launched its 2022 field activities at the Keno Silver project in Yukon, a prime silver district. The program includes 3,000 meters of diamond drilling targeting established deposits and new discoveries. The company aims to advance its resources to formal NI 43-101 standards. Recently, Hecla Mining acquired Alexco Resource Corp, enhancing the district's appeal. Additionally, Metallic raised $4.65 million from private placements to fund exploration. The Keno district boasts a history of over 300 million ounces of silver production, underscoring its potential.

Metallic Minerals has successfully closed a second non-brokered private placement financing, raising $617,820 through the issuance of 1,471,000 units at $0.42 per unit. This includes 846,000 flow-through units for $355,320 and 625,000 non flow-through units for $262,500. Proceeds from the flow-through component will fund eligible Canadian Exploration Expenses. The warrants included allow holders to acquire common shares at $0.50 for a period of 30 months. An insider participated by acquiring 25,000 NFT units.

Metallic Minerals has filed a National Instrument 43-101 technical report for the Allard Cu-Ag Porphyry Deposit, revealing an inaugural resource of 889 million pounds of copper and 15 million ounces of silver (Inferred). This milestone is seen as significant for the company's growth prospects. The project team is preparing for further exploration activities, including geophysical surveys and additional drilling. The report, authored by an independent Qualified Person, is available on SEDAR and the company’s website.

Metallic Minerals has successfully completed a non-brokered private placement financing, generating $4,032,000 through the sale of 9,600,000 units at $0.42 each. Each unit comprises one flow-through common share and a half warrant, exercisable at $0.50 for 30 months. Proceeds will fund exploration at the Keno Silver Project in Yukon and other projects. CEO Greg Johnson highlighted the addition of new institutional investors, while the company awaits TSX-V approval.

The financing includes participation from an officer, considered a related-party transaction.

Metallic Minerals has released final assay results from its 2021 drilling at the Keno Silver Project in Yukon, confirming high-grade silver-gold-lead-zinc mineralization at the Formo deposit. Highlights include drill hole FOR21-05, which returned multiple intervals exceeding 1,000 g/t silver equivalent. The results indicate strong potential for resource expansion in the Formo target area, which remains open for further exploration. Plans are underway to define an inaugural resource estimate while continuing exploration efforts, with updates expected soon.

Metallic Minerals Corp. has announced a non-brokered private placement offering of 9,600,000 flow-through units priced at $0.42 per unit, yielding gross proceeds of $4,032,000. The funds will primarily support Canadian Exploration Expenses at its Keno Silver project. Each unit includes a flow-through share and a half warrant, with warrants exercisable at $0.50 for 30 months. Closing is anticipated around June 8, 2022, pending regulatory approval. CEO Greg Johnson expressed optimism about the exploration prospects and investor interest.

Metallic Minerals has established a dedicated Community & First Nations Relations team to enhance relationships with local communities and governments. Lindsay Wilson has been appointed as Manager, Community and Investor Relations, collaborating with Lauren Blackburn, who manages regulatory and permitting efforts. This initiative aligns with the company’s commitment to environmental, social, and governance (ESG) practices. The team will participate in the Arctic Indigenous Investment Conference on May 4-5, promoting indigenous partnerships and economic growth in the north.

Metallic Minerals has announced its inaugural NI 43-101 mineral resource estimate for the La Plata project, which includes the Allard copper-silver porphyry deposit. The estimate reveals 115.7 million tonnes of resource at an average grade of 0.39% copper equivalent (0.35% Cu and 4.02 g/t Ag), equating to 889 million pounds of copper and 14.975 million ounces of silver. The deposit remains open to expansion and is located in a historically productive mining district. Upcoming exploration plans aim to further define and expand this resource.

Metallic Minerals announced further exploration results from its Keno Silver project in Yukon, Canada. The 2021 field program included drilling, mapping, and soil sampling, revealing silver mineralization in 10 of 12 holes. Key highlights include:

• 24 high-grade intervals over 100 g/t Ag Eq, with a peak of 1,049 g/t Ag Eq.
• Notable broad zones of continuous mineralization, including 112.8 m of 36.5 g/t Ag Eq.
• Identification of new conductive features for further exploration.

Excitement builds for the 2022 season with targeted core drilling expected to advance resource definitions.