METALLIS COMMENCES DRILLING AT GREYHOUND, IDAHO

METALLIS COMMENCES DRILLING AT GREYHOUND, IDAHO

VANCOUVER, BC, Aug. 22, 2025 /CNW/ - Metallis Resources Inc. (TSXV: MTS) (OTCQB: MTLFF) Metallis Resources Inc. (the "Company" or "Metallis") is pleased to announce the commencement of its inaugural drill program (the "Program") at the Greyhound Property, located in the historic Stibnite Mining District of central Idaho. This first-ever drilling campaign will test high-grade silver, gold and antimony targets within a 3.5 km-long mineralized shear zone.

Fiore Aliperti, CEO of Metallis, commented, "Launching our inaugural drill program at Greyhound marks a milestone moment for Metallis and for this historic property. For the first time, we are drill testing a richly mineralized shear zone that has intrigued prospectors for over a century but has never truly been explored with modern techniques. The combination of encouraging historical work, our detailed groundwork, and the presence of multiple high-grade showings make the Greyhound a highly compelling opportunity. With Foraco Drilling as our partner, our team is excited to begin revealing the true potential of this underexplored property. We believe the results from this inaugural program will provide the foundation for significant value creation for our shareholders."

Key Highlights

• Drill program has been contracted to Foraco Drilling Ltd., a leading global drilling services provider;
• Up to 2,000 m of diamond drilling is planned for the inaugural campaign;
• The Program has been designed to test three high-priority targets along the 3.5 km mineralized shear zone; and
• This is the first systematic drill testing to ever be done at Greyhound, a historically significant but underexplored property.

About the Program

The 2025 Program will consist of approximately 2,000 metres of diamond drilling across three high-priority areas (See News Release, May 21, 2025). Drilling will test the 1350' Target, where channel sampling along a 36.9 m length of the Lower Rufus Adit returned 1.85 g/t Au and 785 g/t Ag^† which warrants modern exploration; the Bulldog Target, a broad shear zone with multiple quartz-sulfide veins and existing road access; and the Birdie Target, a parallel shear trend with adits and trenches that point to additional mineralized potential.

About the Greyhound Property

In February 2024, the Company optioned the Property which is located in Custer County, Idaho, approximately 42 km northwest of the town of Stanley and 35 km south of Perpetua Resources' Stibnite Mine. The Property was the center of an active silver mining camp in the early 1900's and at one point contained a smelter and two active mines situated along the 3.5 km Greyhound shear.

The Greyhound targets are hosted by prominent shear zones with polymetallic quartz - sulphide veins containing elevated concentrations of gold, silver, antimony (a critical mineral), lead and zinc. They are comparable to numerous mines in North Idaho's Silver Valley along Interstate 90. This famous district is one of the most prolific silver districts in the world. The total quantities produced are impressive: over a billion ounces of silver, 3 million tons of zinc, and 8 million tons of lead totaling over $6 billion in value, ranking the Silver Valley among the top ten mining districts in world history.

Qualified Person

David Dupre, P.Geo, Vice President - Exploration and the Qualified Person, as defined by National Instrument 43-101, has reviewed, and approved the technical information contained in this release.

^† The reader is cautioned that these measurements and metal grades are derived from historical reports and Metallis has not independently confirmed the results. See Metallis news release dated May 14, 2024 for more details.

About Metallis

Metallis Resources Inc. is a Vancouver-based company focused on the exploration for gold, copper and silver on its 100%-owned Kirkham Property in Canada, situated in northwest British Columbia's Golden Triangle, and on the Greyhound Property, a gold/silver/antimony target in Idaho, USA.

Metallis trades under the symbols MTS on the TSX Venture Exchange, MTLFF on the OTCQB Exchange, and 0CVM on the Frankfurt Stock Exchange, and has 84,680,003 common shares outstanding.

On behalf of the Board of Directors:

/s/ "Fiore Aliperti"
Chief Executive Officer, President, and Director

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute 'forward-looking' statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements because of numerous factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities' regulatory authorities, including quarterly and annual Management's Discussion and Analysis, which may be viewed on SEDAR at www.sedarplus.ca. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected.

Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated, or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX-V Stock Exchange has neither approved nor disapproved the contents of this news release.

SOURCE Metallis Resources Inc.