METALLA REPORTS PORTFOLIO UPDATES
(All dollar amounts are in United States dollars unless otherwise indicated)
-
Côté & Gosselin – Franco-Nevada announces acquisition of existing Côté & Gosselin gross margin royalty for
$1.05 billion . - Endeavor – Commissioning underway and first cash flow scheduled in June.
- Joaquin – Drilling confirms significant extensions to the La Negra deposit.
"We are encouraged by Franco-Nevada's strong vote of confidence in Côté and Gosselin as demonstrated by their commitment of over
Côté & Gosselin (1.35% NSR royalty)
Metalla holds a 1.35% Net Smelter Return ("NSR") royalty interest covering all of IAMGOLD Corporation's ("IAMGOLD") Gosselin deposit and the northern portion of the Côté mine in
Metalla notes the announcement made by Franco-Nevada Corporation ("Franco-Nevada") on
Franco-Nevada stated, after completing detailed due diligence, that the large Resource endowment offers excellent potential to expand milling capacity and grow the current Resource. Franco-Nevada expects the mill to ramp up to nameplate capacity of 13 Mtpa by year-end with potential to expand to 20 Mtpa in the longer term to better align with current mining capacity.
Further, Renaud Adams, President & CEO of IAMGOLD, commented: "…The value upside of the Côté
(1) For more information, please view the Franco-Nevada
Endeavor (4.0% NSR royalty)
Metalla holds a 4.0% NSR royalty interest on Polymetals Resources Ltd.'s ("Polymetals")
On
In addition, diamond drilling continues at the Carpark prospect targeting south extensions to the Main Lode.
For more information, please view the Polymetals Resources
Joaquin (2.0% NSR royalty)
Metalla holds a 2.0% NSR royalty on
On
For more information, please view the
QUALIFIED PERSON
The technical information contained in this news release has been reviewed and approved by
ABOUT METALLA
Metalla provides shareholders with leveraged gold, silver, and copper exposure by acquiring royalties and streams. Our goal is to increase share value by accumulating a diversified portfolio of royalties and streams with attractive returns. Our strong foundation of current and future cash-generating asset base, combined with an experienced team, gives Metalla a path to become one of the leading royalty companies.
For further information, please visit our website at www.metallaroyalty.com.
ON
(signed) "Brett Heath"
Chief Executive Officer
Neither the
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in
Technical and Third-Party Information
Metalla has limited, if any, access to the properties on which Metalla holds a royalty, stream or other interest. Metalla is dependent on (i) the operators of the mines or properties and their qualified persons to provide technical or other information to Metalla, or (ii) publicly available information to prepare disclosure pertaining to properties and operations on the mines or properties on which Metalla holds a royalty, stream or other interest, and generally has limited or no ability to independently verify such information. Although Metalla does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some information publicly reported by operators may relate to a larger property than the area covered by Metalla's royalty, stream or other interests. Metalla's royalty, stream or other interests can cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, resources and production of a property. Ounces are converted to grams using a multiple of 31.1035.
Unless otherwise indicated, the technical and scientific disclosure contained or referenced in this alert,
including any
references to mineral resources or mineral reserves, was prepared in accordance with Canadian
NI 43-101
, which differs significantly from the requirements of the
" Inferred mineral resources " have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Historical results or feasibility models presented herein are not guarantees or expectations of future performance.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This alert contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities legislation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur, or be achieved. Forward-looking statements include, but are not limited to, the statements of the property owners/operators with respect to the properties on which Metalla holds a royalty; the statements of management regarding an extensive resource endowment that has high potential to continue expanding at Cote and Gosselin; the potential to expand milling capacity and grow the current resource at Cote and Gosselin; that the Gosselin zone is expected to drive most of the expansion; that the Côté and Gosselin transaction could materially enhance market recognition of the value of Metalla's royalty interest; the ramp-up to nameplate capacity at Côté and Gosselin, and the expected timing thereof; the commencement of processing at Endeavor and the expected timing thereof; the initial cash flow at Endeavor and the expected timing thereof; the commencement of production from high-grade silver ore areas at Endeavor and the expected timing thereof; the expected processing rate for the second half of 2025 at Endeavor; potential south extensions to the Main Lode; the focus of the next phase of drilling at Joaquin; the expectations generally of Metalla the property owners/operators and the authors of relevant technical reports and studies with respect to the mineral projects in which Metalla has an interest, including without limitation, estimates of mineral resources and mineral reserves and updates thereto, production, mine life, NPV, IRR, costs, drilling, development, permitting, water sourcing, commodity mix and prices, and the timing thereof; future opportunities and acquisitions; future exploration, financing, development, production and other anticipated developments on the properties in which the Company has or has agreed to acquire an interest; future growth, increased share value, cash generation and returns; and Metalla having a path to becoming a leading gold and silver royalty company.
Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Metalla to control or predict, that may cause Metalla's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: that the milling capacity and the current resource at Cote and Gosselin may not expand and grow as anticipated; that the Gosselin zone may not drive most of the expansion; that the Côté and Gosselin transaction may not materially enhance market recognition of the value of Metalla's royalty interest; that the ramp-up to nameplate capacity at Côté and Gosselin may not occur at all or in the expected timing thereof; that the processing at Endeavor may not commence at all or in the expected timing thereof; that cash flow may not start at Endeavor at all or in the expected timing thereof; that the production from high-grade silver ore areas at Endeavor may not commence at all or in the expected timing thereof; that the processing rate for the second half of 2025 at Endeavor may differ from the expectations; that the Main Lode may not expand to the south; that the focus of the next phase of drilling at Joaquin may differ from anticipated; the absence of control over mining operations from which Metalla will purchase precious metals or from which it will receive stream or royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans are refined; problems related to the ability to market precious metals or other metals; industry conditions, including commodity price fluctuations, interest and exchange rate fluctuations; interpretation by government entities of tax laws or the implementation of new tax laws; regulatory, political or economic developments in any of the countries where properties in which Metalla holds a royalty, stream or other interest are located or through which they are held; risks related to the operators of the properties in which Metalla holds a royalty or stream or other interest, including changes in the ownership and control of such operators; risks related to global pandemics, including the current novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens; influence of macroeconomic developments; business opportunities that become available to, or are pursued by Metalla; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which Metalla holds a royalty, stream or other interest; the volatility of the stock market; competition; future sales or issuances of debt or equity securities; use of proceeds; dividend policy and future payment of dividends; liquidity; market for securities; enforcement of civil judgments; and risks relating to Metalla potentially being a passive foreign investment company within the meaning of
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