Metallis Closes $1,262,000 Private Placement and Appoints New VP of Exploration
METALLIS CLOSES $1,262,000 PRIVATE
PLACEMENT AND APPOINTS NEW VP OF
EXPLORATION
VANCOUVER, BC
,
March 10, 2026
/CNW/ -
Metallis Resources Inc.
(TSXV: MTS) (OTCQB:
MTLFF) (FSE: 0CVM) (the "Company" or "Metallis") announces the closing of its non-brokered
private placement (the "Financing") and appointment of new Vice-President of Exploration. Details
announcing the Financing can be found in the Company's previous news releases dated February
24
th
and 25
th
, 2026. The Financing remains subject to final acceptance by the TSX Venture
Exchange.
Total proceeds from the Financing are $1,262,000, resulting in the issuance of 4,762,500 non-flow-
through units at a price of $0.16 per unit for proceeds of $762,000, and 2,500,000 flow-through
common shares at a price of $0.20 per share for proceeds of $500,000. The Financing resulted in
the issuance of a total of 7,262,500 shares.
Each non-flow-through unit consists of one common share and one non-transferable share purchase
warrant entitling the holder to purchase one additional common share at a price of $0.26 per share
for a period of three years.
The flow-through shares issued will qualify as "flow-through shares" for the purpose of the Income
Tax Act (Canada) (the "Act"). All flow-through proceeds will be used to incur "Canadian exploration
expenses" (within the meaning of the Act). The Company will renounce these expenses to the
purchasers with the effective date of no later than December 31, 2026, in accordance with the
requirements of the Act.
Shares and warrants issued on closing are subject to a trading hold period expiring four months plus
one day from the date of issuance.
Finder fees of $37,280 along with 45,500 finder's warrants, also exercisable at a price of $0.26 per
share for a period of three years, were paid to registered finders.
Use of Proceeds
The proceeds from the flow-through shares will be used for qualifying expenditures at the Kirkham
Property in northwest British Columbia. Proceeds from the non-flow-through units will be used to
advance exploration activities at both the Company's Greyhound and Kirkham projects, as well as
for general corporate purposes.
Corporate Update
The Company is also very pleased to announce the appointment of Mr. Dave Nuttal as its Vice-
President of Exploration.
Dave Nuttall, P.Geo., is a Professional Geoscientist registered with Engineers and Geoscientists
British Columbia with extensive experience leading and advancing mineral exploration projects and
contributing to multiple mineral discoveries across Canada and the United States. Mr. Nuttall brings a
strong blend of field, technical, and leadership expertise gained through senior roles including
President of Geo Exploration, VP Exploration at Serac Exploration, Technical Advisor at Walker
River Resources, and Chief Geologist at Scottie Resources Corp. Throughout his career he has
managed multidisciplinary exploration teams and overseen programs ranging from project evaluation
and early-stage target generation through advanced resource definition and production drilling in both
open-pit and underground operations.
Mr. Nuttall completed his education at the University of British Columbia, where his research focused
on magma chamber dynamics within the Coast Plutonic Complex of British Columbia. During his
academic career, he received several prestigious awards, including the Shell Mapping Award, the
Economic Geology Scholarship, the Endeavour Silver Scholarship, and the GAC Logan Award.
Mr. Nuttall has played key roles in multiple new mineral discoveries and significant extensions to
known mineralized zones, with experience spanning a broad range of precious and base metal
deposit types, including epithermal, orogenic, Carlin-type, porphyry, VMS, skarn, SEDEX and IOCG
systems. He has contributed directly to new and extension discoveries, including the Blueberry
Contact Zone, Gulley, Wolf, Road, and Serac Zones (Scottie Resources), Krakatoa (BMC
Minerals), and the Fork, Wedge, and South Austin extensions (Pure Gold).
The Company believes Mr. Nuttall's combination of technical expertise, discovery experience, and
leadership in advancing exploration projects will play an important role in refining exploration targets
and advancing the discovery potential of Metallis' Greyhound and Kirkham projects in northwest
British Columbia.
Fiore Aliperti, Chief Executive Officer of Metallis Resources, commented, "With great pleasure we
welcome Dave to the Metallis team. With planned work at both our Greyhound and Kirkham
projects, 2026 is shaping up to be an exciting year for the Company, and Dave's technical expertise
and leadership will strengthen our exploration capabilities as we continue advancing our projects."
The Board would also like to thank Dave Dupré for his 13 years of dedicated service as Vice-
President of Exploration. Mr. Dupré has played a key role in advancing the Company's exploration
initiatives and has served Metallis and its shareholders with professionalism, knowledge, and
integrity. Mr. Dupré will continue to support the Company as a member of its Technical Advisory
Board.
The Company also announces that, pursuant to the terms of the Company's Stock Option Plan, the
Board of Directors has approved the grant of an aggregate of 1,850,000 incentive stock options (the
"Options") to its directors, officers and certain consultants at an exercise price of $0.18 per share,
exercisable for a five-year period. The Options are subject to regulatory approval from the TSX
Venture Exchange. Along with previously granted and unexercised stock options that remain
outstanding, the Company now has 7,800,000 outstanding stock options, representing 8.39% of the
Company's outstanding common shares.
About the Kirkham Property
The wholly owned, 106 sq. km Kirkham Property is located about 65 km north of Stewart, B.C., in
the heart of the Golden Triangle's prolific Eskay (Sulphurets) Camp. The Property is contiguous to
Garibaldi Resources Corp.'s E&L Nickel Mountain Project to the north and Eskay Mining Corp. to the
east. It is located along a strategic geological boundary – the "Red-line" exposed on the western
margin of the Eskay Rift system and is prospective for multiple mineral deposit types. The Kirkham
Property is within 20 km of the past producing Eskay Creek mine while the eastern border is within
12 – 20 km of Seabridge Gold's KSM deposits and Newcrest Mining's producing Brucejack mine.
About
the Greyhound
Property
In February 2024, the Company optioned the Greyhound Property, 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. In
2024, the Company staked additional land around Greyhound for a total current property size of 673
hectares.
Greyhound mineralization is hosted by prominent shear zones with polymetallic quartz-sulphide
veins containing elevated concentrations of gold, silver, antimony (a critical mineral), lead, and zinc.
Greyhound shares certain geological characteristics with the Lucky Friday Mine in northern Idaho.
Both properties exhibit vein mineralization occurring as fracture-fillings, disseminations, and tabular
masses of galena and tetrahedrite along with accessory pyrite in a gangue of siderite, calcite, and
quartz. The Lucky Friday zone is a singular, curved tabular body that dips almost vertically. The vein
at Lucky Friday has a strike length of up to 450 m and a width that varies from centimeters to as
much as 6 m. The average varies from 1.2 to 1.8 m over the full length (SLR, 2022).
Metallis states that while the Lucky Friday Mine may share some geological similarities with the
Greyhound Property, no representation is made that comparable results will be achieved at
Greyhound.
References
SLR, 2022 Technical Report Summary on the Lucky Friday Mine, Idaho, USA S-K 1300 Report
Hecla Mining.
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.
About Metallis
Metallis Resources Inc. is a Vancouver-based company focused on the exploration for gold, copper
and silver at its 100%-owned Kirkham Property in Canada, situated in northwest British Columbia's
Golden Triangle, and at the Greyhound Property, a gold/silver/antimony property 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 92,992,503 common shares issued
and outstanding, after giving effect to the Financing.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. The TSX-V Stock Exchange has neither approved nor disapproved of the contents of this
news release.
SOURCE Metallis Resources Inc.
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For further information:
For further information contact Mr. Aliperti at: Tel: 604-688-5077, Email:
[email protected], Web: www.metallisresources.com
CO: Metallis Resources Inc.
CNW 08:00e 10-MAR-26