CLARIFICATION OF PRIVATE PLACEMENT CLOSING ANNOUNCED MARCH 10, 2026

Metallis Resources Inc. (TSXV: MTS; OTCQB: MTLFF; FSE: 0CVM), a Vancouver-based exploration company, has issued a clarification regarding its private placement financing that was initially announced on March 10, 2026. The company is raising $1,262,000 through this private placement, but has formally disclosed that it paid aggregate cash finder's fees totaling $7,280 to eligible intermediaries involved in the transaction.

The private placement is designed to support Metallis’s ongoing exploration efforts at its wholly-owned Kirkham Property, located within British Columbia's renowned Golden Triangle, which is rich in gold, copper, and silver deposits. Additionally, the company is working on the Greyhound Property, which contains gold/silver/antimony resources in Idaho, USA.

Despite the clarification regarding finder's fees, all other aspects of the financing remain unchanged and are still pending final acceptance from the TSX Venture Exchange. Following the completion of this financing, Metallis has reported a total of 92,992,503 common shares outstanding.

Metallis Resources is concentrated on enhancing its portfolio of properties, and with this financing, the company aims to bolster its exploration capabilities aimed at locating precious and base metals. The leadership, including CEO and President Fiore Aliperti, continues to maintain a committed focus on growth and resource development aimed at maximizing shareholder value.

This update is vital for current and potential investors who are keen on the developments surrounding Metallis Resources and its strategic initiatives in the resource sector. Further updates will likely follow as the company progresses with its exploration and financing efforts.

As a financial analyst, it is important to dissect the implications of Metallis Resources Inc.’s recent announcement regarding its private placement closing, which ultimately resulted in raising $1,262,000 for the company. This strategic move aligns with their ongoing exploration efforts for gold, copper, and silver at key properties in Canada and the United States.

The announcement of the $7,280 finder's fees reflects a modest operational expense associated with the financing, indicating the company has been judicious in its fundraising efforts. Such careful financial management can resonate well with both potential and existing investors, as it suggests a focus on maximizing capital utilization.

From a market perspective, investors should observe how this financing will support Metallis’ exploration activities and the potential for future resource discoveries in the highly lucrative Golden Triangle region of British Columbia. The region is known for its rich mineral deposits, and successful exploration results could significantly enhance the company’s valuation.

Given that Metallis has 92,992,503 shares outstanding, the financing dilutes existing shareholder positions slightly, but the capital infusion is crucial for maintaining operations and drilling activities. With the stock being publicly traded on various exchanges, including the TSXV, OTCQB, and Frankfurt Stock Exchange, it has significant exposure and liquidity, providing opportunities for investors looking to capitalize on mining sector dynamics.

As the private placement is subject to final approval by the TSX Venture Exchange, investors should monitor regulatory developments closely. Should Metallis release positive exploration results in the near future, the stock could see upward price momentum. Investors should weigh the potential risks associated with mining exploration against the upside of increased resource values and broader market trends in commodity sectors, particularly gold and copper, which often serve as safe-haven assets in times of market volatility.