(All dollar amounts are in United
States dollars unless otherwise indicated)
TSXV: MTA
NYSE American: MTA
VANCOUVER, BC, Feb. 20,
2025 /PRNewswire/ - Metalla Royalty &
Streaming Ltd. ("Metalla" or the "Company")
(NYSE American: MTA) (TSXV: MTA) is pleased to report the following
recent developments in its royalty portfolio:
- Wharf (1.0% GVR) – Gold Measured and Indicated
Resources more than doubled; Gold Inferred Resources more than
tripled.
- Endeavor (4.0% NSR) – Production on track for Q2
2025 with A$35 million equity capital
raise funding secured for the growth of Endeavor Mine.
- Taca Taca (0.42% NSR) – Key ESIA milestones met in Q4
2024 and updated NI 43-101 in progress ahead of expected RIGI
incentive regime application.
- Wasamac (1.5% NSR) – Initial declaration of Mineral
Reserves with further technical evaluation and exploration
ongoing.
- Hoyle Pond (2.0% NSR) – New operator brings fresh
perspective to exploration.
- Amalgamated Kirkland
(0.45% NSR) – 2025 Guidance of 10 Koz gold and 50 - 60 Koz
gold in 2026 and 2027.
WHARF (1.0% GVR)
Metalla holds a 1.0% Gross Value Return ("GVR") royalty
on Coeur Mining, Inc's ("Coeur") Wharf Mine ("Wharf")
in the Black Hills, South Dakota,
USA.
On February 18, 2025, Coeur
announced that mine optimization initiatives drove a substantial
increase in Mineral Resources, positioning Wharf for significant
mine life extensions as infill drilling is expected to accelerate
in 2025. At year end, Proven and Probable Reserves totaled 757 Koz
at 0.81 g/t gold, Measured Resources totaled 175 Koz at 0.53 g/t
gold, Indicated Resources totaled 845 Koz at 0.53 g/t gold and
Inferred Resources totaled 470 Koz at 0.56 g/t gold.
For more information, please view Coeur Mining's February 18, 2025 Press Release.
ENDEAVOR (4.0% NSR)
Metalla holds a 4.0% Net Smelter Return ("NSR") royalty
on Polymetals Resources Ltd. ("Polymetals") Endeavor project
("Endeavor") in Cobar, Australia.
On February 10, 2025, Polymetals
announced a A$35 million
single-tranche equity capital raise to strengthen the balance sheet
as Polymetals transitions towards first production at the Endeavor
Mine in Q2 2025. Polymetals also stated they will accelerate
near-mine and regional exploration activities. With a pro forma
cash position of ~A$37 million and
access to ~A$26 million in undrawn
debt finance facilities, Polymetals is well positioned for the
capital required for the near-term Endeavor mine restart.
Polymetals continues to reiterate that first production is
expected in April 2025 and first cash
flows in May 2025.
For more information, please view Polymetals Resources
February 10 2025 Press Release.
TACA TACA (0.42% NSR)
Metalla holds a 0.42% NSR Royalty on First Quantum Minerals
("First Quantum") Taca Taca project ("Taca Taca") in
Salta, Argentina.
On February 11, 2025, First
Quantum reported that key ESIA milestones were met during the
fourth quarter 2024, including an independent evaluation by SEGEMAR
(Argentinian Geological and Mining Service). The ESIA continues to
be reviewed by the Secretariat of Mining of Salta Province.
First Quantum is preparing an update of the Taca Taca's NI
43-101 Technical Report, and plans to submit an application for the
RIGI regime, a new incentive regime for large investments.
For more information, please view First Quantum MD&A dated
February 11, 2025.
WASAMAC (1.5% NSR)
Metalla holds a 1.5% NSR royalty on Agnico Eagle Mines Limited's
("Agnico") Wasamac Mine ("Wasamac") near Rouyn-Noranda, Canada.
On February 13, 2025, Agnico
reported the initial declaration of Proven and Probable Mineral
Reserves of 1.38 Moz at 2.9 g/t gold, an Indicated Resource of 667
Koz at 2.19 g/t gold (exclusive) and Inferred Resources were 312
Koz at 1.65 g/t gold. This is the first declaration of
Mineral Reserves by Agnico at Wasamac since its acquisition from
Yamana Gold Inc. in 2023.
Agnico reported that it plans to spend $2.3 million for 10,000 meters of drilling at
Wasamac in 2025 and an additional $6.8
million is expected to be spent in 2025 for further
technical evaluation to assess various scenarios regarding optimal
mining rates and milling strategies.
For more information, please view Agnico Exploration Press
Release dated February 13, 2025.
HOYLE POND (2.0% NSR)
Metalla holds a 2.0% NSR royalty on a portion of Discovery
Silver Corporation's ("Discovery Silver") planned
acquisition of the Hoyle Pond mine ("Hoyle Pond").
On January 27, 2025, Discovery
Silver announced the acquisition of Newmont Corporation's Porcupine
complex, including the Hoyle Pond Underground mine. Discovery
Silver outlined significant opportunities that exist to grow
production, reduce costs and extend mine life at Hoyle Pond through
improved ventilation systems, material handling and backfill
systems, and increased automation. In addition, Discovery Silver
plans to evaluate zones of mineralization that currently do not
have Mineral Resource estimates and were not included in the
life-on-mine plan, specifically the TVZ Zone.
Metalla's 2.0% NSR royalty covers the main production zone
called the S Vein and portions of the TVZ zone, subject to a 500
koz gold exemption. Metalla also holds a 2.0% NSR royalty on a
claim block which partially covers the TVZ Zone, which is not
subject to the exemption (see figure below).
For more information, please view Discovery Silver January 27, 2025 Press Release.
AMALGAMATED KIRKLAND (0.45%
NSR)
Metalla holds a 0.45% NSR royalty on Agnico's Amalgamated
Kirkland project ("AK") near Kirkland Lake, Canada.
On February 13, 2025, Agnico
announced that AK ores will be processed at the LZ5 mill at LaRonde
beginning in the fourth quarter of 2025. Production from the AK
deposit is forecast to be approximately 10 Koz gold in 2025, and 50
– 60 Koz gold in 2026 and in 2027.
For more information, please view Agnico Eagle Mines
February 13 2025 Press Release.
QUALIFIED PERSON
The technical information contained in this news release has
been reviewed and approved by Charles
Beaudry, geologist M.Sc., member of the Association of
Professional Geoscientists of Ontario and of the Ordre des Géologues du
Québec. Mr. Beaudry is a QP as defined in National Instrument
43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101").
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 BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
Chief Executive Officer
Website: www.metallaroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accept responsibility for the adequacy or accuracy of this
alert.
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 the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable
exemption from registration requirements.
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 U.S. Securities and
Exchange Commission (the
"SEC") applicable to U.S.
domestic issuers. Accordingly, the scientific and technical
information contained or referenced in this alert may
not be comparable to similar information made public
by U.S. companies subject to the reporting and
disclosure requirements of the SEC.
"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 positioning of Wharf for significant mine life
expansion, and acceleration of infill drilling in 2025; timing for
first silver and gold production and cash flows at Endeavour mine; review of the ESIA, the
preparation of a new technical report and the submission of an
application for the RIGI regime at Taca Taca; anticipated drilling
and technical evaluation at Wasmac, including the timing thereof;
benefits of new operator at Hoyle Pond, including opportunities to
grow production, reduce costs and extend life of mine and
evaluation of new zones of mineralization; and production guidance
and anticipated ore processing, including timing thereof, at
Amalgamated Kirkland; 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 Wharf mine life expansion and infill drilling will not occur
as planned; that the timing for first silver and gold production
and cash flows at Endeavour mine
will not be as anticipated; that the ESIA at Taca Taca will not be
approved, the technical report will not be prepared or the
application for the RIGI regime at Taca Taca will not be submitted;
that the anticipated drilling and technical evaluation at Wasmac,
including the timing thereof, will not occur as planned; the
benefits of new operator at Hoyle Pond, including opportunities to
grow production, reduce costs and extend life of mine and
evaluation of new zones of mineralization will not be realized; and
production guidance and anticipated ore processing, including
timing thereof, at Amalgamated Kirkland will not be as 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 U.S.
federal tax laws; and the other risks and uncertainties disclosed
under the heading "Risk Factors" in the Company's most recent
annual information form, annual report on Form 40-F and other
documents filed with or submitted to the Canadian securities
regulatory authorities on the SEDAR website at www.sedar.com and
the U.S. Securities and Exchange Commission on the EDGAR website at
www.sec.gov. Metalla undertakes no obligation to update
forward-looking information except as required by applicable law.
Such forward-looking information represents management's best
judgment based on information currently available. No
forward-looking statement can be guaranteed, and actual future
results may vary materially. Accordingly, readers are advised not
to place undue reliance on forward-looking statements.
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SOURCE Metalla Royalty & Streaming Ltd.
