Company Announcements

VANCOUVER, BC , Oct. 9, 2025 /CNW/ - Metallis Resources Inc. (TSXV: MTS) (OTCQB: MTLFF) (the "Company" or "Metallis") is pleased to provide an update on its 2025 diamond drilling campaign (the "Program") at the Greyhound Property (the "Greyhound" or "Property") in central Idaho, USA. To date, seven drill holes have been completed, totaling 1,143 meters, with drilling now advancing to the final target area at Birdie (See Map 1). The Property hosts numerous historical workings and offers significant untapped exploration potential, with this year marking the first-ever drill testing of these targets.

The Greyhound is characterized by extensive shear zones that contain polymetallic quartz-sulfide veins hosting silver, gold, and antimony mineralization associated with sphalerite, galena, and stibnite. This multi-metal profile enhances the strategic importance of Property, as antimony contributes roughly 20% of the in-situ value alongside silver and gold. Following recent supply disruptions and export restrictions from China, antimony's role as a critical mineral has further underscored the potential value of the project. Importantly, the Greyhound can be advanced based on strong silver-gold fundamentals while retaining significant strategic supply potential from antimony.

Dave Dupre, VP of Exploration commented, "This year's drill program has delivered consistently encouraging results as the team works to complete as much as possible before the end of the season. To date, 1,143 metres have been drilled across seven holes targeting the Bulldog and the 1350' zones. The drill has now mobilized to the Birdie target where an additional four holes are planned. We are highly encouraged by what we have seen so far and are excited to be just starting exploration on the exciting Greyhound Property."

1350' Target

Drilling at the 1350' has expanded a high-grade silver-gold-antimony zone identified from historic mining. The drill holes targeted several zones near the Lower Rufus adit where historical channel sampling^† along a 36.9 m length of this adit returned 1.85 g/t Au and 785 g/t Ag (10.6 g/t AuEq*). The 2025 drill plan involved intercepting the shear zone above and below the adit as well as the zone 70 m along strike to the south.

Three drill holes totalling 659.8 m from a single pad have intercepted strong sulphide mineralization over substantial lengths in each hole. Shear zones have varied from 7m to 25m (with unknown true width) and contained sulphides such as arsenopyrite, pyrite, galena, sphalerite and stibnite, all correlative to silver mineralization (See Image 1). The mineralized shear zone has now been traced over 100 m vertically and 70 meters horizontally. With 3 definitive intercepts, the team is now better able to constrain the morphology of the mineralized shear zone.

Bulldog target

At the Bulldog target, four holes totaling 483.6 metres were drilled from two pads centered on a 12 meter wide silver-gold-antimony shear zone where surface samples returned up to 4.9% Sb and 3,360 g/t Ag. Drilling has confirmed semi-massive sulphide zones hosted in quartz-sulphide veins containing pyrite, arsenopyrite, and trace sphalerite, galena, and stibnite.

Structural analysis revealed east-dipping geometries not previously identified, while post-mineral dykes in holes GH25-01 and GH25-04 (See Image 3) may have locally offset mineralization. Multiple mineralized veins were encountered across several holes, suggesting the system is more laterally extensive than initially interpreted.

Birdie Target

Four drill holes are planned at the Birdie target totaling approximately 500 m (See Image 5). The drill is currently collared at the Upper Birdie where two scissored drill holes are planned underneath the upper portal. Two more holes are planned off another pad, 50 m southeast at the lower Birdie (See Map 1). The Birdie target is located on a parallel trend to the main Greyhound shear. The results of drilling are expected to increase our understanding of parallel shear zones.

Significant gold and silver have been found at the Birdie target, where two trench cuts located 70 m apart as well as historic adits both revealed a sizeable shear zone with quartz sulfide veins of 1-3 m total width.  An 80 cm float rock from the Upper Birdie cut yielded 4,900 g/t Ag with other samples nearby returning up to 67.0 g/t AuEq*. A 50 cm quartz sulphide vein sampled from Lower Birdie cut returned 18.15 g/t Au. These findings emphasize the Birdie as a gold rich zone and highlight the exceptional gold values that were historically overlooked.

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'sSilver 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 grades of the Greyhound 1350' zone are historical and can therefore not be verified by Metallis although there is no reason to believe they are inaccurate.

* Gold and Silver equivalent values are derived from the following prices in USD; Au $2,500 per ounce, Ag $28 per once, Pb $0.90 per pound, Zn $1.20 per pound, Sb $12.00 per pound

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'sGolden 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.

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SOURCE Metallis Resources Inc.