Metallic Minerals Corp. · TSXV:MMG
Metallic Minerals — Investor Presentation (September 2026)
57 slides from Metallic Minerals's investor presentation, September 2026
Slide 1: Advancing District-Scale Copper & Silver Assets
ADVANCING DISTRICT-SCALE COPPER & SILVER ASSETS IN THE USA & CANADA WITH GOLD, PLATINUM GROUP METALS, AND OTHER CRITICAL MINERALS Plus Hf-Zr-V-REE-Sc-F-Ga La Plata Project Colorado, USA Corporate Presentation – September 2026 TSX.V: MMG | OTCQB: MMNGF | FSE: 9MM1 1
Slide 2: Forward-Looking Information
TSX-V: MMG OTCQB: MMNGF Forward-Looking Information Third-Party Information This presentation contains certain forward-looking statements that reflect the current views and/or expectations of Where this presentation quotes any information or statistics from any external source, Metallic Minerals Inc
Slide 3: Value Through Discovery
TSX-V: MMG OTCQB: MMNGF COPPER, SILVER, GOLD & PRIORITY CRITICAL MINERALS: PLUS PRIORITY CRITICAL MINERALS (Hf-Zr-V-REE-Sc-F-Ga) Metallic Minerals is lead by an experienced management VALUE team with a track record of Tier 1 discoveries as co-founders of NovaGold and other leading companies. Our obj
Slide 4: Copper Production Shortage Forecasted
TSX-V: MMG OTCQB: MMNGF COPPER PRODUCTION SHORTAGE FORECASTED Fewer major discoveries Operating mines are depleting, Demand is rising from global economic have limited new production and global grades are declining growth, energy-transition, grid expansion, coming online AI & data centers, and defen
Slide 5: Enterprise Value Increase
Development Stages Resource Stage PEA Stage PFS Stage Feasibility Stage Production (Preliminary Economic (Pre-Feasibility Study) & Value Creation Assessment) Strategic Equity Investment by Majors for projects that show exceptional potential Transition to Production Often a pause in value growth as p
Slide 6: Exploration Discovery Drought
• Exploration expenditures down >60% from 2012 peak with new discoveries at 60-year lows • Junior Explorer/Developers — the “R&D engine” of the sector — nearly starved of capital over past decade • Mining Industry at the lowest relative valuations in over a century Exploration Discovery Drought Mini
Slide 7: Metallic Group Team Experience with NovaGold
TSX-V: MMG OTCQB: MMNGF Metallic Group Team Experience with NovaGold – Discovery, Expansion and Advancement to Feasibility Donlin1 1 Donlin2 Galore3 Ambler4 Resource Resource Resource M&I Resource Market Cap M&I Resource Acquisition M&I Resource Market Cap Growth Growth Growth 2.4 Blbs Cu3 12 Blbs C
Slide 8: Our Team
OUR TEAM Scott Petsel, BSc, MBA, P.Geo President 35+ years experience in global exploration, mine geology, project management Greg Johnson, BSc, P.Geo and advancement. Senior roles with NovaGold, Trilogy Metals (NovaCopper), Rebecca Moriarty CPA, CA Chief Executive Officer & Board Chairman Barrick (
Slide 9: Leveraging Geologic Expertise and New Technologies
TSX-V: MMG OTCQB: MMNGF Leveraging geologic expertise and new technologies U.S. Geological Survey (USGS) and the Colorado Geological Survey and USGS Colorado Geological Survey are have identified the La Plata district as an mapping the historic La Plata mining area with significant potential for dis
Slide 10: How AI Transforms Discovery
TSX-V: MMG OTCQB: MMNGF Powering the future of minerals with new technologies Overview • Strategic partnership with VRIFY Technology to apply AI and machine learning across Metallic’s project portfolio. • Focused on the La Plata Cu-Ag-Au-PGE Project (Colorado) and Keno Silver Project (Yukon) with te
Slide 11: La Plata, Keno Silver, Klondike Gold
TSX-V: MMG OTCQB: MMNGF LA PLATA KENO SILVER KLONDIKE GOLD COPPER-SILVER-PGM-GOLD PROJECT SILVER-LEAD-ZINC-GOLD PROJECT ALLUVIAL PRODUCTION Precious Metals Rich Porphyry High-Grade Silver Gold and Silver Royalties 1.31 Blbs Cu 18.2 Moz AgEq Royalty agreements in place with 17.0 Moz Ag Inaugural Infe
Slide 12: La Plata Copper-Silver-Gold-PGE Project
TSX-V: MMG OTCQB: MMNGF LA PLATA COPPER-SILVER-GOLD-PGE PROJECT PLUS OTHER CRITICAL MINERALS (Hf-Zr-V-REE-Sc-F-Ga) Updated NI 43-101 Resource Estimate January 2026 1.31 BLBS CU1 17.0 MOZ AG 272 Koz PGE+Au (0.37% Cu, 3.92 g/t Ag 0.05 g/t PGE+Au) 1) See Metallic Minerals News Release January 26, 2026,
Slide 13: +20 Critical Minerals + REEs
+20 Critical Minerals + REEs Increased Impact to US GDP Hosted in the La Plata Project plus 13 listed high-priority F critical elements Sc Ti V Cu Ga Increased Probability of Supply Disruption Rb Sr Zr Pd Ag Te Hf Pt Au • 60 minerals listed as critical by the USGS • Metallic Minerals has +20 critica
Slide 14: Regional Infrastructure and Access
Transparency Professionalism Commitment TSX-V: MMG OTCQB: MMNGF REGIONAL INFRASTRUCTURE AND ACCESS The La Plata Project is located in the La Plata Mountains between Cortez and Durango Hermosa Cortez FSR 567 Hwy 20-minute drive from 550 Mancos Mayday Durango via highway Hwy 160 and County Road 160 CR
Slide 15: Giant Porphyry Cu Deposits
Giant Porphyry Cu Deposits Worldwide locations of large, giant and super giant porphyry deposits Porphyry Copper deposits are the world’s major source of Cu with ∼75% of production from only 400 deposits 30% are precious metals rich La Plata deposits producing ~20% of the world’s Au and ~15% of Ag w
Slide 16: La Plata
TSX-V: MMG OTCQB: MMNGF Bingham Canyon La Plata Lisbon Valley Questa Lonestar/Safford Morenci TSX: PGE.V OTCQB: 16 PGEZF Kucks, Robert P., 1999, Isostatic residual gravity anomaly data grid for the conterminous US FSE: 5D32
Slide 17: World Class Metallogenic Province for Copper, Silver, Gold, and Critical Minerals
TSX-V: MMG OTCQB: MMNGF Rio Tinto Bingham Copper King Bingham Tintic Belt Cu-Au Canyon Continental Scale Structures (Gravity and Magnetics) Tintic District Henderson Climax World Class Metallogenic Global HQ Province for Copper, Silver, Central City Lisbon Valley Au Gold, and Critical Minerals Leadv
Slide 18: Alkaline Porphyry Deposits
TSX-V: MMG OTCQB: MMNGF Precious metal rich copper porphyries are multi-generational assets Deposit class includes some of the world’s largest, highest-grade and longest-lived copper producers De ve Rio Tinto stalop ge me nt Alkaline Porphyry Deposits Bingham Canyon (Utah, USA) Galore Creek (BC, Can
Slide 19: La Plata – Potential District Scale Porphyry Corridor
TSX-V: MMG OTCQB: MMNGF La Plata +6km La Plata – Potential District Scale Porphyry Corridor La Plata Allard Au >0.1g/t in soils Cu >500ppm in soils 0.2% CuEq (Cu & Mo >20ppm in soils Ag) cut off n Allard how e S Resource Lin n c tio Se Cadia Exploration Similarities to other Target Concept large sca
Slide 20: Exploration Target Areas
TSX-V: MMG OTCQB: MMNGF EXPLORATION TARGET AREAS La Plata project area looking south. Target areas shown in white italics. Mancos, Co Cortez, Co Durango, Co Allard Resource 25 km2 Porphyry Complex Madden Evening Star Alteration Signature Copper Age Allard Tunnel Morning Star East Mancos Rd Renegade
Slide 21: La Plata Project Showing Surface Rock Sample Results
TSX-V: MMG OTCQB: MMNGF • La Plata Project showing surface Boren Gulch rock sample results over soil 6.37% CuEq, 0.71% Cu, 426 g/t Ag, geochemistry contours 1.92 g/t Au, 41.3 g/t Te Little Kate 27.57% CuEq, • Copper >200 ppm 32.0 g/t Au Gold >0.1 ppm Dolly Morning Star Divide • High Au-Ag-Te epither
Slide 22: La Plata Project District Significant Surface Rock Sample Results
TSX-V: MMG OTCQB: MMNGF CuEq Cu Ag Au Pt Pd Au+PGE Te • La Plata project district significant surface rock sample results over Target Style (% Rec) (%) (g/t) (g/t) (g/t) (g/t) (g/t) (g/t) 18.36 17.9 169.31 1.18 0.09 0.11 1.37 undrilled porphyry and epithermal targets Copper Hill Porphyry 6.43 0.01 6
Slide 23: La Plata Project Looking North Towards Spiller Peak
TSX-V: MMG OTCQB: MMNGF La Plata Project looking North towards Spiller Peak N 25 Km2 Area of Alteration Century Legend Allard Resource Area s Polari Little Kate Advance-Stage Targets Narrow Boren Gulch Gauge Group Dolly-B Early-Stage Targets Divide Rock/Soil anomalies T-29 Dolly Morning Star Evening
Slide 24: La Plata Project Looking East from Montezuma County
TSX-V: MMG OTCQB: MMNGF E La Plata Project looking east from Montezuma County Legend Advance-Stage Target Areas 2 Km Open Open 1 Km (3,281 ft.) TSX: PGE.V OTCQB: 24 PGEZF FSE: 5D32
Slide 25: La Plata Project Plan
La Plata Project Allard Resource Area 2026 Allard Drillhole Traces = CuEq (%) LAP23-08* Inferred Mineral N 551m @ 0.28% CuEq 2 Incl. 72 m @ 0.51% CuEq 2 112.8m @ 0.40% Cu Open Resource ending in mineralization * CuEq (%) includes a La Plata metal recovery factor CA-01 Open AC-08 Project Plan 88 Dril
Slide 26: Isometric X-Section - Allard Deposit
ISOMETRIC X-SECTION - ALLARD DEPOSIT TSX-V: MMG OTCQB: MMNGF The Allard resource, as currently defined, is open for expansion with addition drill testing. Section looks NW Southwest (Azimuth 210⁰). Extension Potential: Copper Age/West Allard Targets with exposed mineralization, channel sampled in 20
Slide 27: Looking Northwest
TSX-V: MMG OTCQB: MMNGF D Looking Northwest D’ SW NE 2026 blocks (Cu %) • Updated NI 43-101 mineral resource estimate dated January 2026 newly includes Pt + Pd +Au: • 23% increase in tonnage 2022 Resource Outline • 10% increase in CuEq metal EN OP • 272 Koz PGE+Au in new subset Proposed area of reso
Slide 28: Allard Resource Area Looking West
TSX-V: MMG OTCQB: MMNGF • Scale of alteration and similarities to other giant porphyry systems like Cadia and Galore highlight potential for world-class Cu-Ag system • Updated mineral resource estimate issued January 2026 • Addition of Au plus PGEs • Higher confidence geologic model for deposit • Me
Slide 29: USGS Critical Minerals Resource Area
TSX-V: MMG OTCQB: MMNGF Metallic Tellurium USGS Critical Minerals Resource Area § The USGS has designated the La Plata mining district as a Critical Minerals Resource area under the Earth MRI program due to its alkalic porphyry system and the surrounding and overlapping epithermal mineralization Pla
Slide 30: 1.31 Blbs Cu 17 Moz Ag
TSX-V: MMG OTCQB: MMNGF Updated NI 43-101 Inferred Mineral Resource Estimate Base case - NSR Cut-off $18.00 Announced Jan 2026 Tonnes Grades Contained Metal Domain (Mt) CuEq% Cu% Ag g/t Pt g/t Pd g/t Au g/t PGE+Au g/t Cu Mlbs Ag Moz Pd Koz Pt Koz Au Koz PGE+Au Koz 1.31 BLB CU1 Cu-Ag Shell 136 0.35 0
Slide 31: Keno Silver
TSX-V: MMG OTCQB: MMNGF KENO SILVER SILVER-LEAD-ZINC-GOLD PROJECT Inaugural NI 43-101 Inferred Resource Estimate 18.2 MOZ AGEQ1 (120 g/t Ag, 0.10 g/t Au, 0.80% Pb, 1.77% Zn) 1) See Metallic News Release on NI-43-101 Resource Estimate @ $22.50/Oz Silver, February 26,2024 31
Slide 32: Yukon
TSX-V: MMG OTCQB: MMNGF Excellent access & power infrastructure ALLUVIAL GOLD Mining is the Yukon’s #1 economic sector with a KENO SILVER PROJECT well-defined regulatory system ALASKA Keno City Existing road access along Yukon highway 11 and 2 Yukon Canada NORTHWEST TERRITORIES Deep sea, year-round
Slide 33: Keno Hill Mill Complex
TSX-V: MMG OTCQB: MMNGF Keno Hill Mill Complex • Hecla completed acquisition of Alexco Resources in September 2022 • Keno is the highest grade mine in Hecla’s portfolio and will be Canada’s largest silver producer • Production restarted in Q3 2023, ramping to commercial production 2025 Keno Hill Hig
Slide 34: Selwyn Basin
TSX-V: MMG OTCQB: MMNGF Selwyn Basin Selwyn Basin shown as a higher-temp, Ag-Pb-Zn veins Duvernay Basin deep extension of the WCSB along Keno Hill deep OVER-PRESSURED strike. The Selwyn Basin was subjected Devonian shale gas to hard overpressures while at depth, thrus H2O-CH4-CO2 prior to uplift and
Slide 35: Western Keno Hill District
WESTERNWestern KENOKeno HILL HillDISTRICT District Central Keno Hill District EASTERN KENO HILL DISTRICT Eastern Keno Hill District 1,2 (New Discoveries) (205 Moz Ag) (220 Moz Ag) 1,2 (100 Moz Ag) 1,2 (New Discoveries) N Cobalt Hill West Avenue Cobalt Fox 2020 Rumtum Beauvette Formo Sadie Vancouver
Slide 36: Keno Silver Project Target Areas
KENO SILVER TSX-V: MMG OTCQB: MMNGF PROJECT TARGET AREAS Avenue Beauvette 4 Resource areas and expansion targets 12 Lightning Advanced-stage targets Large-scale soil anomalies 40+ (above 5 g/t Ag Eq) - including 22 early-stage targets 8 McMillan Historic Producing Mines Historic Mines on MMG Claims1
Slide 37: Regional Scale Thrust Faults
TSX-V: MMG OTCQB: MMNGF Transition of magnetic low to magnetic high demonstrates close proximity with mineralization West Cobalt Avenue Cobalt Hill Beauvette Sadie Lucky Ladue Queen Rumtum Pick Axe Caribou Vancouver Lightning Blanco Duncan Creek N. Fox Formo Keno Faith Fox Hill Gold Galkeno Hill Zon
Slide 38: Formo Zone Cross Section – Looking NE
TSX-V: MMG OTCQB: MMNGF Formo Zone Cross Section – Looking NE 135m Section Slice SE Formo Zone NW 900 m FOR20-006: 2.2m @ 740.6 g/t Ag Eq1 FORMO: 12.8 Moz Incl. 0.7m @ 2,255.9 g/t Ag Eq1 Ag eq. 800 m Inferred Mineral Resource Estimate FOR21-06: Drill Hole Samples 11.4m @ 413.7 g/t Ag Eq2 g/t Ag Eq.
Slide 39: Ag: 12.77 Moz Au: High Grade Values
TSX-V: MMG OTCQB: MMNGF Ag: 12.77 Moz Au: high grade values, infill sampling needed 17.0 g/t 24.8 g/t 6.2 g/t 5.6 g/t 250 m 8.7 g/t 8.2, 12 and 6.2 g/t 39 39
Slide 40: Keno Hill Silver District
TSX-V: MMG OTCQB: MMNGF • Keno Hill silver district is Canada’s largest primary silver producer and Hecla’s highest-grade silver operation • Historic production of over 220 Moz of high-grade silver with 130 Moz in current resources and reserves • Metallic Minerals’ eastern half of the Keno Hill dist
Slide 41: 18.2 Moz AgEq Inaugural Resource Estimate
TSX-V: MMG OTCQB: MMNGF Inaugural NI 43-101 Inferred Mineral Resource Estimate Announced Feb. 2024 Keno Silver 2024 Inaugural Inferred Mineral Resource Estimate Cut-off Grade = 50 g/t AgEq open-pit & 150 g/t AgEq underground 18.2 MOZS Deposit Cut-off Grade (AgEq Tonnes AgEq (g/t) Ag (g/t) Au (g/t) P
Slide 42: Klondike Gold
KLONDIKE GOLD ALLUVIAL ROYALTY PROJECT 3 Active Royalty Operations Focus on expanded production in 2026 following record year in 2025
Slide 43: Revenue Generating Production Royalties in Place
TSX-V: MMG OTCQB: MMNGF Revenue Generating Production Royalties in Place Royalty gold production began in August 2023 on Australia Creek. Royalties continued in 2024 with focus on new pit development for expanded production in 2025 10-15% 10+ Royalties to be Operations will received by Metallic pote
Slide 44: US Copper Companies by Market Cap
Market Cap (MM) Iv an $1,000 $100 $200 $300 $400 $500 $600 $700 $800 $900 $- ho e El ec Fa tr ra ic da y C op pe Tr r i lo gy M C$1.53B C$1.48B et al s H er cu Sa le nd s fi r e Pre-resource* Am H er ic ig Cap hl a an d C Company Li op on pe Co r A p m pe er r& ic G an ol Pa d ci fi c M M in in et a
Slide 45: North American Silver Companies by Market Cap
TSX-V: MMG OTCQB: MMNGF North American Silver Companies by North American Silver Projects by Market Cap Resource Size C$2.29B $1,000 160 $900 140 $800 Resource Size (Moz) 120 $700 Market Cap (MM) 100 $600 $500 80 $400 60 Pre-resource* Pre-resource* Pre-resource* $300 Pre-resource* 40 $200 20 $100 $-
Slide 46: Colorado and Keno Silver Timeline
TSX-V: MMG OTCQB: MMNGF La Plata Resource Expansion Drilling Drilling on high-priority targets outside of resource area LA PLATA Metallurgical testwork for copper, precious Colorado metals and critical Exploration & Inaugural Resource New Target Updated Resource mineral recovery Project Target Resou
Slide 47: Enterprise Value Increase
TSX-V: MMG OTCQB: MMNGF Potential Exponential Increase in Value from Resource Growth Through Feasibility Feasibility Stage Producer Valuations La Plata – A Company Making Asset Avg $200/oz +$400/oz AuEq AuEq Typically reflect Profit Margin/oz or Profit Margin/lb Explorer / Developer Valuations PFS S
Slide 48: Venture Index
TSX-V: MMG OTCQB: MMNGF Venture Cycle High CDNX Venture Last cycle highs: 2026 Current Levels Spot Gold Small Cap Index Gold 1900 Gold 4485 140% higher than 2011 XAU Large XAU 232 XAU 415 80% above 2011 levels Cap Gold Venture 3400 Venture 972 3.5x gap to 2007 highs Equities 17 Year Generational 3.5
Slide 49: Venture Index
TSX-V: MMG OTCQB: MMNGF 8 Month Recent Metals Sector Context: Consolidation to Uptrend Support from Strongly Overbought to Deeply Oversold Over 8 Months Spot Gold Venture Small CDNX Venture Cap Index Small Cap Index Spot Silver Gold Price Spot Gold Spot Silver Venture Index Venture Index Uptrend Sup
Slide 50: Relative Performance
TSX-V: MMG OTCQB: MMNGF Spot COPPER Strategic Investments TSX Venture Spot GOLD & RELATIVE PERFORMANCE Spot Silver MMG.V Recent Share Price (September 2, 2026) C$0.24 Shares Issued & Outstanding 248.7M Options (avg. price: $0.31) 16.6M SHAREHOLDER COMPOSITION* Mgmt / Newmont Insiders Eric Sprott War
Slide 51: Typical Trough to Peak Periods
TSX-V: MMG OTCQB: MMNGF Typical trough to peak periods have been ~10-15 years 9/11 WWII TSX: PGE.V 51 OTCQB: 51 PGEZF FSE: 5D32
Slide 52: Base Metals / S&P500 Precious Metals / S&P500
TSX-V: MMG OTCQB: MMNGF The latest commodity cycle has seen an exceptionally long bear market phase Commodity Cycle Peak 10 Year 15 Year New Bull Bull Market Bear Market Market Cycle Precious Metals / S&P500 Base Metals / S&P500 5 Year Precious Metals Index Bear Market Base Metals Index Oil & Gas En
Slide 53: Trading Range Reset Triples Copper Prices
TSX-V: MMG OTCQB: MMNGF Spot Copper New Price Discovery Trading Ranges Being Established 20 Year Upper Range Breakout Trading Range Reset Triples Copper Prices 20 Year Upper Trading Range $4.50/lb and Establishes New Long-Term Trading Ranges 20 Year Upper Range Breakout 20+ Year Upper Trading Range
Slide 54: Trading Range Breakout Establishes New Long-Term Trading Ranges
TSX-V: MMG OTCQB: MMNGF $100 /oz New Price Discovery Trading Ranges Being Established $60/oz 2011 Inflation Adjusted Silver Price $75/oz in 2026 dollars Range Breakout $50/oz 1980 Inflation Adjusted Silver Price $185/oz in 2026 dollars 20 Year Trading Ranges Trading Range Breakout Establishes New Lo
Slide 55: Gold : Copper Ratio
TSX-V: MMG OTCQB: MMNGF $4250/oz Au Gold : Copper Ratio Gold : Silver Ratio $4250/oz Au $60/oz Ag $6.70/lb Cu $40/oz Gold:Copper Ratio Gold:Silver Ratio $6/lb $6.50/lb $50/oz $60/oz $8.50/lb Long Term Mean Long Term Mean $10/lb $90/oz $15/lb $125/oz $250/oz Gold:Silver and Gold:Copper Ratio Since 19
Slide 56: World Class Asset Checklist
TSX-V: MMG OTCQB: MMNGF WORLD CLASS INVESTMENT OPPORTUNITY Experienced Leadership Proven track record of discovery, growth and advancement of Tier 1 assets World Class Asset Backed by Strategic Investors Checklist Opportunity to co-invest along with Newmont Mining and Eric Sprott Potential for Signi
Slide 57: Contact Information
TSX-V: MMG OTCQB: MMNGF FSE: 9MM1 CONTACT INFORMATION Corporate Head Office: Colorado Office: Yukon Office: WWW.METALLIC-MINERALS.COM 904 – 409 Granville Street 799 Tech Center Drive Unit A2 434 - 108 Elliott Street Vancouver, BC V6C 1T2 Durango, CO 81301 Whitehorse, Yukon Y1A 6C4 Phone: 604-629-780
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