MTA.V · 2023-12-06 12:00:00

Metalla Provides Three-Year Corporate Strategy and Highlights Near-Term Catalysts

Shareholder Letters & Outlook

METALLA PROVIDES THREE-YEAR CORPORATE STRATEGY

AND HIGHLIGHTS NEAR-TERM CATALYSTS

(All dollar amounts are in United States dollars unless otherwise indicated)

TSXV:

MTA

NYSE American:

MTA

VANCOUVER, BC

Dec. 6, 2023

/CNW/ -

Metalla Royalty & Streaming Ltd.

Metalla

" or the "

Company

") (TSXV: MTA) (NYSE American:

MTA) is pleased to profile its post-merger core assets and provide a three-year corporate strategy and highlights near-term portfolio catalysts.

CORPORATE HIGHLIGHTS

An emerging mid-tier royalty and streaming company now with over 100 royalties and streams with several cornerstone assets

including Côté-

Gosselin and Taca Taca

Six producing assets with three more scheduled to commence production in 2024

Key production contributors for 2024/2025 are expected to be Tocantinzinho, Wharf, Aranzazu,

La Encantada

, Amalgamated Kirkland, and

Endeavor

Projected gold equivalent ounce ("

GEO

") production of over 30,000 ounces annually by 2030 from high-quality, long-life projects, expected

to result in substantial growth in cash flow

Best in class jurisdictional risk profile with royalties on assets located in established mining regions across

North America

South America

and

Australia

Approximately

$35 million

in total liquidity available

Brett Heath

, President, and CEO of Metalla commented, "After a combined 12 years of respective acquisitions of high-quality growth assets

at Metalla and Nova Royalty Corp., the combination underpins a portfolio that is expected to produce over 30,000 GEOs annually by 2030.

We anticipate near-term free cash flow growth to be driven by Tocantinzinho, Endeavor, and Amalgamated Kirkland for the 2024/2025

period, firmly establishing our business as a mid-tier royalty company."

Mr. Heath continued, "Over the next three years as we benefit from the many upcoming catalysts in our portfolio, we intend to focus on

additional strategic transactions and the development of a capital return strategy."

THREE-YEAR STRATEGY OBJECTIVES

Pursue additional strategic transactions to complement best-in-class growth portfolio

Focus on increasing shareholder value, including the development of a capital return strategy

Reduce debt and maintain a strong balance sheet

TERMINATION OF AT-THE-MARKET FACILITY

May 27, 2022

, the Company announced that it had entered into an equity distribution agreement to establish an At-The-Market equity

program (the "

ATM Program

"), which could be terminated at any time by the Company or the syndicate of agents. On

November 30, 2023

, the

Board of Directors authorized the termination of the ATM Program and no further sales will take place thereunder. From inception to

termination, the Company distributed 1,328,079 common shares under the ATM Program at an average price of

$5.01

for gross proceeds of

$6.6 million

, however, there had been no sales during the five months ended

November 30, 2023

CORE PORTFOLIO VALUE CONTRIBUTORS

Metalla will enter 2024 with royalties on six producing assets and three new mines that are expected to commence production during the year.

The portfolio hosts a commodity mix of gold, silver, and copper, creating blended leverage to monetary, strategic, and inflation resilient metals

to preserve purchasing power and grow value over the long term. The portfolio is anchored by 10 core assets profiled below, representing over

50% of the consensus NAV of the portfolio.

Côté and Gosselin (1.35% NSR)

Côté is located near

Sudbury, Ontario

and is poised to become

Canada's

third largest gold mine with IAMGOLD Corp. ("

IAMGOLD

") (TSX:

IMG) announcing an expected annual output of 495Koz and total cash costs of

US$693

/oz in the first six years of operation. The main driver of

growth at the Côté mine is expected to be the 5Moz gold Gosselin deposit located adjacent to the 14 Moz Côté pit. Construction is ongoing at

Côté and was ~92% complete as of

September 30, 2023

. The project remains on track to commence production in early 2024.

Since the inaugural resource estimate at Gosselin, an additional 57 holes for

34,790m

have been drilled at the deposit which are expected to

be incorporated in the year-end resource update. Recent holes have highlighted the depth potential at Gosselin where IAMGOLD intends to

drill to a similar depth as the Côté deposit. Metalla's royalty covers the northern portion of Côté and all of the Gosselin deposit.

Côté Reserve & Resource Estimate:

Côté

Gosselin

Tonnes

Gold

Tonnes

Gold

Royalty GEOs

(000's)

(g/t)

(000's)

(g/t)

(000's)

Proven & Probable

233,331

1.0

7,174

5.8

Measured & Indicated

365,916

0.9

10,206

124,500

0.8

3,350

53.6

Inferred Resources

189,108

0.6

3,813

72,900

0.7

1,710

26.1

For royalty ounce calculation, Metalla estimates 6% of Côté and 100% of Gosselin's Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 1.35%.

Tocantinzinho (0.75% NSR)

Tocantinzinho is an advanced-stage gold development project in Pará State,

Brazil

owned by G Mining Ventures (TSXV: GMIN) with a planned

10.5 year mine life and an expected annual gold production of 196Koz over the first five years at an AISC of

$666

/oz. The fully funded project

was 51% complete as of

September 12, 2023

, and trending on time and on budget for commercial production in the second half of 2024.

Metalla holds a 0.75% Gross Value Royalty interest on Tocantinzinho.

Tocantinzinho Reserve & Resource Estimate:

Tonnes

Gold

Royalty GEOs

(000's)

(g/t)

(Koz)

(000s)

Proven & Probable Reserves

48,676

1.31

2,042

15.3

Measured & Indicated Resources

48,114

1.36

2,102

15.8

Inferred Resources

1,580

0.98

3.8

For royalty ounce calculation, Metalla estimates 100% of the Tocantinzinho Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 0.75%.

Castle Mountain (5% NSR

)

Castle Mountain is an operating heap leach and mill gold mine operated by Equinox Gold Corp. ("

Equinox

") (TSX: EQX) (NYSE: EQX) and

located in

California, USA

, north of Equinox's Mesquite mine. Phase 1 is currently operating at the JSLA, Jumbo, and

Oro Belle

pits with an

expected production of 30-40Koz of gold annually. Phase 2, which is expected to begin in 2026 and includes South Domes which is covered by

Metalla's royalty, is projected to expand production to more 218Koz at an AISC of

$858

/oz over the 14-year Phase 2 mine plan. Equinox has

outlined the potential to expand the Mineral Reserve pits outlined in the 2021 feasibility study to ultimately connect the JSLA and South Domes

pits. Metalla holds a 5% Net Smelter Return ("

NSR

") royalty on the South Domes portion of the mine.

Castle Mountain South Domes Reserve & Resource Estimate:

Tonnes

Gold

Royalty GEOs

(000's)

(g/t)

(Koz)

(000s)

Proven & Probable Reserves

54,800

0.63

1,100

Measured & Indicated Resources

66,406

0.63

1,347

67.4

Inferred Resources

39,190

0.47

588

29.4

For royalty ounce calculation, Metalla estimates 100% of the South Domes Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 5.0%.

Taca Taca (0.42% NSR)

Taca Taca, located in Salta,

Argentina

, is one of the largest undeveloped copper projects in the Americas, wholly-owned by First Quantum

Minerals Ltd. ("

First Quantum

") (TSX: FM). Taca Taca is planned to consist of an open pit mine with a large 60 Mtpa processing plant

expected to produce more than 275,000 tonnes of copper per year at its peak along with 106,000 ounces of gold and 2,205 tonnes of

molybdenum. Taca Taca is expected to be a long-life asset with an initial 32-year mine life and an exceptionally large resource base providing a

pre-tax net present value at an 8% discount rate ("

NPV

") of

$3.4B

and a 17.4% internal rate of return ("

IRR

"). Pre-development activities

are ongoing including positive progress on water sourcing and power line development. An initial Environmental and Social Impact Assessment

for the project was submitted in 2019 with final approval expected in 2024. First Quantum expects to make a development decision on Taca

Taca in 2024.

Taca Taca Reserve & Resource Estimate:

Tonnes

Copper

Gold

Molybdenum

Royalty GEOs

(Mt)

( %)

(Mlbs)

(g/t)

(Moz)

( %)

(000 t)

(000s)

Proven & Probable

1,758.5

0.44

17,053

0.09

5.1

0.012

214

149

Measured & Indicated

2,203.3

0.43

20,836

0.09

6.1

0.012

265

182

Inferred

716.9

0.31

4,863

0.05

1.2

0.009

For royalty ounce calculation, Metalla estimates 100% of Taca Taca's Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 0.357% is applicable for the copper and molybdenum Royalty GEOs (which factors in a 15% NSR

smelting charge). Copper has been converted to Royalty GEOs assuming $3.50 per pound. Molybdenum has been converted to Royalty GEOs assuming $10.00 per pound.

Copper World Complex (0.315% NSR)

Copper World is a large open pit copper development project in

Arizona, USA

, owned by Hudbay Minerals Inc. ("

Hudbay

") (TSX: HBM)

(NYSE: HBM). The 2023 Pre-Feasibility study contemplates four planned open pit mines with a two-phased mine-plan. A 20-year mine life

Phase I plan is expected to produce 92,000 tonnes of copper per year in the first 10 years. Phase II extends the mine life to 44 years through

an expansion of the processing facilities, resulting in up to 100,000 tonnes of annual copper production. Hudbay has indicated that it expects to

receive the two outstanding operating state permits for Phase I by early 2024. Metalla holds a right of first refusal for an additional 0.36%

NSR.

Copper World Reserve & Resource Estimate:

Royalty

Tonnes

Copper

Gold

Silver

Molybdenum

GEOs

(Mt)

( %)

(Mlbs)

(g/t)

(Moz)

(g/t)

(Moz)

(ppm)

(Mlbs)

(000s)

Proven & Probable

385

0.52

4,412

0.02

0.350

5.44

108

Measured & Indicated

1,205

0.42

11,074

0.02

0.780

4.22

163

117

312

Inferred

275

0.32

1,940

0.01

0.089

2.82

106

For royalty ounce calculation, Metalla estimates 99% of the Copper World Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 0.268% is applicable for the copper and molybdenum Royalty GEOs (which factors in a 15%

NSR smelting charge). Copper has been converted to Royalty GEOs assuming $3.50 per pound of copper. Molybdenum has been converted to Royalty GEOs assuming $10.00 per pound. Silver has been converted to Royalty GEOs assuming $23.00 per

ounce.

Wharf (1% NSR)

Wharf is an open pit, heap leach gold mine operated by Coeur Mining Inc. (NYSE: CDE) in the Black Hills of

South Dakota

. Wharf has been in

operation since 1982 and continues to be a steady-state gold operation with total 2022 production of 79.8 Koz gold. Wharf currently has an

eight-year mine life, and gold production guidance for 2023 is expected to be 88-95 koz gold. Metalla holds a 1% royalty on Wharf.

Wharf Reserve & Resource Estimate:

Tons

Gold

Royalty GEOs

(000's)

(oz/t)

(Koz)

(000s)

Proven & Probable Reserves

33,707

0.027

908

9.1

Measured & Indicated Resources

14,468

0.020

293

2.9

Inferred Resources

3,149

0.020

6.3

For royalty ounce calculation, Metalla estimates 100% of the Wharf Mineral Resources and Mineral Reserves are subject to our royalty interest at a rate of 1.0%.

Aranzazu (1% NSR)

Aranzazu is an underground copper-gold-silver mine in

Zacatecas, Mexico

owned and operated by Aura Minerals Inc. ("

Aura

") (TSX: ORA).

The mine reopened in 2018 as a 3,350 tonne per day operation which produced 111,531 GEOs in 2022 at a

$680

/oz gold-equivalent cash

cost. Guidance for 2023 is for 101–116Koz of GEOs. Aura has a long history of replacing reserves at Aranzazu, since restarting production in

2018, Aura has increased its Proven and Probable Reserves by 53% net of depletion. Exploration is ongoing with 29,400 meters of drilling

budgeted for 2023 on the property of which only 6% has been drill-tested to date.

Aranzazu Reserve & Resource Estimate:

Tonnes

Copper

Silver

Gold

Royalty GEOs

(kt)

( %)

(Mlbs)

(g/t)

(Moz)

(g/t)

(Koz)

(000s)

Proven & Probable

9,572

1.23

259

17.6

5.4

0.81

249

7.5

Measured & Indicated

15,072

1.44

477

21.4

10.4

0.97

471

13.9

Inferred

4,324

1.04

16.4

2.3

0.55

2.7

For royalty ounce calculation, Metalla estimates 100% of the Aranzazu Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 0.85% is applicable for the copper Royalty GEOs (which factors in a 15% NSR smelting charge).

Copper has been converted to Royalty GEOs assuming $3.50/lb. Silver has been converted to Royalty GEOs assuming $23/oz

Vizcachitas (0.49% NSR on Underground, 0.98% NSR on Open Pit)

Vizcachitas is a large copper-molybdenum porphyry deposit in central

Chile

, owned by Los Andes Copper Ltd. ("

Los Andes

") (TSXV: LA). The

2023 pre-feasibility study outlined an initial 26-year open pit mine life with annual copper production of 183,000 tonnes in the first eight years, a

post-tax NPV

$2.8B

and an IRR of 24%. The project has existing infrastructure including transport, power, and access to desalinated

water. Los Andes has resumed exploration and optimization drilling where several targets include possible resource extensions to the east,

west and at depth. Los Andes expect to complete a Feasibility study between 2023 and 2024, with potential commencement of commercial

production in 2029. The royalty covers approximately 50% of the open pit.

Vizcachitas Reserve & Resource Estimate:

Tonnes

Copper

Silver

Molybdenum

Royalty GEOs

(Mt)

( %)

(Mlbs)

(g/t)

(Moz)

(ppm)

(Mlbs)

(000s)

Proven & Probable

1,220

0.36

9,623

1.1

45.2

136

365

Measured & Indicated

1,541

0.38

13,021

1.1

53.8

155

526

121

Inferred

1,823

0.34

13,747

0.9

55.3

123

495

126

For royalty ounce calculation, Metalla estimates 50% of the Vizcachitas Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 0.417% is applicable for the copper and molybdenum Royalty GEOs (which factors in a 15%

NSR smelting charge). Copper has been converted to Royalty GEOs assuming $3.50 per pound. Molybdenum has been converted to Royalty GEOs assuming $10.00 per pound. Silver has been converted to Royalty GEOs assuming $23.00 per ounce.

Endeavor (4% NSR)

Endeavor is a past-producing major underground silver-zinc-lead mine in Cobar,

Australia

owned by Polymetals Resources Limited

Polymetals

") (ASX: POL). As part of the restart plan Polymetals declared an initial 10-year mine life producing 9.8 Moz silver, 210 kt zinc

and 62 kt lead with first concentrate production targeted for H2-2024. The mine restart study produced a NPV

A$201 million

and an IRR

of 91%, with expenditures estimated to be

A$23.7 million

. Metalla holds a 4.0% NSR royalty on all silver, zinc, and lead produced from

Endeavor.

Endeavor Reserve & Resource Estimate:

Lead

Tonnes

Zinc

Silver

Royalty GEOs

(Mt)

( %)

(Mlbs)

(g/t)

(Moz)

( %)

(Mlbs)

(000s)

Proven & Probable

5.6

4.04

499

14.1

1.79

221

Measured & Indicated

14.8

7.2

2,338

72.9

34.7

4.3

1,387

Inferred

3.1

7.7

526

7.8

3.7

253

For royalty ounce calculation, Metalla estimates 100% of the Endeavor Mineral Resources and Mineral Reserves are subject to our royalty interest and the zinc and lead Royalty GEOs factor in a 15% NSR smelting charge). Zinc has been converted to Royalty

GEOs assuming $1.10 per pound. Lead has been converted to Royalty GEOs assuming $1.00 per/oz. Silver has been converted to Royalty GEOs assuming $23.00/oz.

Wasamac (1.5% NSR)

Wasamac is a development-stage underground gold project near

Rouyn-Noranda, Quebec

owned and operated by Agnico Eagle Mines Ltd

Agnico Eagle

") (TSX: AEM) (NYSE: AEM). Agnico Eagle envisions the project as an underground bulk mining operation with production of up

to 200 Koz gold per year. Studies are ongoing to assess the potential to process the ores of Wasamac at the LaRonde or Canadian Malartic

processing facilities with preliminary results expected in 2024.

Wasamac Reserve & Resource Estimate:

Tonnes

Gold

Royalty GEOs

(000's)

(g/t)

(Koz)

(000s)

Proven & Probable Reserves

26,835

2.52

2,170

32.6

Measured & Indicated Resources

6,030

1.75

340

5.1

Inferred Resources

7,090

2.00

455

6.8

For royalty ounce calculation, Metalla estimates 100% of the Wasamac Mineral Resources and Mineral Reserves are subject to our royalty interest and a rate of 1.50% is applicable. Agnico Eagle classify the Wasamac Reserve & Resource estimate as

historic as the estimate was prepared on behalf of a prior owner of the property.

CORPORATE UPDATE

E.B. Tucker retires from the Board of Directors

The Company announces the retirement of E.B. Tucker from the Board of Directors after serving as a member for the past seven years.

Brett Heath

, President and CEO of Metalla commented, "Today E.B. Tucker has retired from the Metalla board of directors after almost

seven years of service. E.B. was a founding director of Metalla shortly after its initial public offering in 2016 and played a key role in the

Company's growth and success. On behalf of the Company and the Board of Directors, we would like to thank E.B. for his unwavering

dedication and insightful leadership and wish him the best to focus on his future endeavors."

E.B. Tucker, former director of Metalla commented, "It's been an honor to serve the shareholders of Metalla for almost seven years. A period

where its portfolio of royalties grew from a handful to more than 100 today. As a shareholder I'm excited for what's ahead for this new,

larger, emerging royalty company."

Shares for services agreements

In connection with the closing of the acquisition by Metalla (the "

Arrangement

") of all of the issued and outstanding shares of Nova Royalty

Corp. ("

Nova

"), Metalla announces that it has entered into a shares for services agreement with Trinity Advisors Corporation ("

Trinity

Advisors

") (the "

Trinity Shares for Services Agreement

"), pursuant to which, subject to receipt of TSXV approval and NYSE American

approval, Metalla will issue to Trinity Advisors of 143,832 Metalla Shares at a deemed price of

C$5.29

per share (which is equal to the closing

price of the Metalla Shares on the date of announcement of the Arrangement), as partial payment of the success fee payable by Metalla to

Trinity in connection with the completion of the Arrangement. In addition, Nova, Metalla, and PI Financial Corp. ("

PI Financial

") have entered

into a shares for services agreement pursuant to which, subject to receipt of TSXV approval and NYSE American approval, Nova agreed to

assign, and Metalla agreed to assume, the obligation to pay a portion of the success fee payable to PI Financial in connection with the

completion of the Arrangement, by issuance to PI Financial of 164,379 Metalla Shares, also at a deemed price of

C$5.29

per share (being the

closing price of the Metalla Shares on the date of announcement of the Arrangement).

Both Trinity Advisors and PI Financial are arm's length parties to Metalla, Nova and each of their affiliates.

QUALIFIED PERSON

The technical information contained in this news release has been reviewed and approved by Charles Beaudry, M.Sc., geologist and member

of the Association of Professional Geoscientists of Ontario and the Ordre des Géologues du Québec and a consultant to Metalla. Mr. Beaudry

is a Qualified Person as defined in National Instrument 43-101,

Standards of Disclosure for Mineral Projects

NI 43–101

").

ABOUT METALLA

Metalla is an emerging mid-tier royalty and streaming company focused on leveraged exposure to gold, silver, and copper. Our goal is to

increase share value by accumulating a diversified portfolio of royalties and streams with attractive returns on high quality assets with

experienced operators in low-risk jurisdictions. 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 the next commodities cycle.

For further information, please visit our website at

www.metallaroyalty.com

ON BEHALF OF METALLA ROYALTY & STREAMING LTD.

(signed) "Brett Heath" President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)

accept responsibility for the adequacy or accuracy of this release.

Notes:

Numbers may not add due to rounding.

(1)

For details, please refer to IAMGOLD's 2023 Annual Information Form and IAMGOLD's Press Release dated October 23, 2023 available at sedarplus.ca

(2)

For details, please refer to the Feasibility Study – NI 43-101 Technical Report for the Tocantinzinho Gold Project with an effective date of December 10, 2021 and the G Mining Ventures' Press Release dated September 12, 2023.

(3)

For details, please refer to the Technical Report for the Castle Mountain Project Feasibility Study with an effective date of February 26, 2021, NI 43-101 Technical Report on the Preliminary Feasibility Study for the Castle Mountain Project dated

August 28, 2018 and Equinox Gold's Q3 2023 Management and Discussion available on sedarplus.ca

(4)

For details, please refer to the Taca Taca Project, Salta Province Argentina, Amended and Restated NI 43-101 Technical Report issued March 30, 2021 and First Quantum Minerals' Q3 2023 MD&A.

(5)

For details, please refer to the NI 43-101 Technical Report, Copper World Complex, Pima County, Arizona USA, with an effective date of May 1, 2022, Hudbay Minerals' 2022 Annual Information Form and the Information outlined on

www.copperworldaz.com

and the Copper World Pre-Feasibility Study dated September 8, 2023.

(6)

For details, please refer to Coeur Mining's 2023 Annual Information Form and Coeur Mining's Q3 2023 Management Discussion and Analysis 10-Q SEC Filing report.

(7)

For details, please refer to the Feasibility Study of the Re-Opening of the Aranzazu Mine, Zacatecas, Mexico with an effective date of January 31, 2018 and Aura Minerals' 2023 Annual Information Form.

(8)

For details, please refer to the Vizcachitas Project Pre-Feasibility Study, Valparaiso Region, Chile, NI 43-101 Technical Report, with an effective date of February 20, 2023 and the Los Andes Copper's 2022 Annual Information Form

(9)

For details, please refer to the Polymetals Resources' Mine Restart Study for the Endeavor Mine dated October 16 2023 and filed on ASX.com.au

(10)

For details, please refer to Agnico Eagle Mines' Q2 2023 and Q3 2023 Financial Statements and Yamana Gold's 2023 Annual Information Form

Non-IFRS Financial Measures

Metalla has included certain performance measures in this press release that do not have any standardized meaning prescribed by

International Financial Reporting Standards (IFRS) including attributable gold equivalent ounces (GEOs). The Company believes that, in

addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's

performance and ability to generate cash flow.

Attributable GEOs are a non-IFRS financial measure that is composed of gold ounces attributable to the Company, plus an amount

calculated by taking the expected revenue by the Company from payable silver ounces, copper pounds, lead pounds and zinc pounds

attributable to the Company, less material costs, divided by the price of gold. The Company presents attributable GEOs as it believes that

certain investors use this information to evaluate the Company's performance in comparison to other streaming and royalty companies in the

precious metals mining industry who present attributable ounces on a similar basis

The presentation of these non-IFRS financial measures is intended to provide additional information and should not be considered in

isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS

financial measures differently.

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.

Unless otherwise indicated, the technical and scientific disclosure contained or referenced in this press release,

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 press

release 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 release 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 expected GEO production by 2030; the key production contributors for 2024/2025; the anticipated near-

term free cash flow growth; the establishment of Metalla as an emerging mid-tier royalty company; the three years strategic objectives of

Metalla; the termination of the ATM Program; the expected production at the projects in which Metalla holds a royalty interest; the expected

commencement of production at Côté mine and the timing thereof;

the start of Phase 2 at Castle Mountain; the potential expansion of

production at Castle Mountain; the mine life expectancy at Taca Taca; the final approval of the Environmental and Social Impact Assessment

for Taca Taca and the timing thereof; the making of a development decision for Taca Taca by First Quantum and the expected timing

thereof; the two-phased mine plan for Copper World; the receipt of outstanding operating state permits for Phase I at the Copper World

Complex and the expected timing thereof; drilling at Aranzazu; the completion of a feasibility study by Los Andes at Vizcachitas and the

timing thereof; the anticipating timing of commencement of commercial production at Vizcachitas; the results of the studies at Wasamac and

the timing thereof; 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; the issuance of Metalla Shares to Trinity Advisors and PI Financial under the Shares for Services

Agreements; the receipt of TSXV approval and NYSE American approval for the Shares for Services Agreements;

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: 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 and Streaming Ltd.

View original content to download multimedia:

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%SEDAR: 00005157E

For further information:

Metalla Royalty & Streaming Ltd., Brett Heath, President & CEO, Phone: 604-696-0741, Email:

[email protected]; Kristina Pillon, Investor Relations, Phone: 604-908-1695, Email:

[email protected], Website:

www.metallaroyalty.com

CO: Metalla Royalty and Streaming Ltd.

CNW 07:00e 06-DEC-23

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