METALLA REPORTS RECORD FINANCIAL RESULTS FOR THE SECOND QUARTER OF 2026 AND PROVIDES ASSET UPDATES (All dollar amounts are in thousands of United States dollars unless otherwise indicated, except for shares, per ounce, and per share amounts)
METALLA REPORTS RECORD FINANCIAL RESULTS FOR THE SECOND
QUARTER OF 2026 AND PROVIDES ASSET UPDATES
(All dollar amounts are in thousands of United States dollars unless otherwise indicated, except for shares, per
ounce, and per share amounts)
FOR IMMEDIATE RELEASE TSXV: MTA
NYSE American: MTA
August 13, 2026
Vancouver, Canada: Metalla Royalty & Streaming Ltd. (“Metalla” or the “ Company”) (TSXV: MTA)
(NYSE American: MTA) announces its operating and financial results for the three and six months ended
June 30, 202 6. For complete details of the condensed interim consolidated financial statements and
accompanying management's discussion and analysis for the three and six months ended June 30, 2026,
please see the Company's filings on SEDAR+ (www.sedarplus.ca) or EDGAR (www.sec.gov). Shareholders
are encouraged to visit the Company's website at www.metallaroyalty.com.
“Our second quarter reflected the continued growth of Metalla’s portfolio, with record revenue of $ 5.2
million and Adjusted EBITDA of $3.9 million, driven by increasing contributions from our producing assets,”
said Brett Heath, CEO of Metalla. “A key milestone during the quarter was first production from Agnico’s
Amalgamated Kirkland project, adding further cashflow from our portfolio and further strengthening and
diversifying our near-term revenue base.”
“Looking ahead, IAMGOLD’s newly consolidated 20.3 million ounce Measured and Indicated Mineral
Resource at Côté and Gosselin further highlights the scale and long -term value of this world -class gold
system. The updated Côté mine plan and mineral reserve estimate , expected in the fourth quarter , is
anticipated to integrate Gosselin for the first time, representing an important milestone towards cashflow
from Metalla’s 1.5% royalty covering the northern portion of Côté and substantially all of Gosselin . With a
growing base of producing royalties and a high-quality development pipeline continuing to advance toward
production, we believe Metalla is well positioned to deliver meaningful long -term growth on a per -share
basis.”
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COMPANY HIGHLIGHTS
Key Company highlights during the three months ended June 30, 2026, and subsequent period include:
• A record breaking quarter for the Company, recording revenue from royalty and stream interests
of $5. 2 million, net income of $1. 2 million, basic and diluted earnings of $0.01 per share , and
Adjusted EBITDA of $3. 9 million (see Non-IFRS Financial Measures) , all of which were quarterly
records for the Company;
• Recognized revenue from royalty and stream interests, including fixed royalty payments, of $5. 2
million for the three months ended June 30, 2026, a 94% increase compared to revenue of $2.7
million for the three months ended June 30, 2025; net income of $1. 2 million for the three months
ended June 30, 2026, compared to a net loss of $1.7 million for the three months ended June 30,
2025; and Adjusted EBITDA of $3. 9 million for the three months ended June 30, 2026, a 1 59%
increase compared to Adjusted EBITDA of $1.5 million for the three months ended June 30, 2025
(see Non-IFRS Financial Measures);
• Received or accrued payments on 1,1 73 attributable Gold Equivalent Ounces (“ GEOs”) for the
three months ended June 30, 2026 , at an average realized price of $4,50 4 per attributable GEO
(see Non-IFRS Financial Measures);
• On July 29, 2026, Agnico Eagle Mines Ltd. (“ Agnico”) announced that trucking of ore from the
Amalgamated Kirkland (“ AK”) deposit to the LZ5 processing facility commenced in the second
quarter of 2026. The LZ5 mill processed 71,000 tonnes of ore from the AK deposit and produced
7,800 ounces of gold during the quarter . Metalla received its inaugural cash flows from the
Amalgamated Kirkland royalty in the period;
• On June 23, 2026, Mr. Sandeep Singh was elected to the Metalla Board of Directors as a non -
executive Director. The Company also announced that Mr. Singh had purchased 150,000 Common
Shares in the market, and the Company had awarded him an aggregate of 150,000 restricted share
units (“RSUs”) to match his investment. The RSUs will vest in three equal installments annually
from the date of the grant;
• On July 22, 2026, Silver Storm Mining Ltd. (“Silver Storm”) announced the first shipment of lead-
silver and zinc concentrates from La Parrilla silver mine complex. Silver Storm reported that it had
successfully produced an initial batch of concentrates using the La Parrilla sulphide processing
circuit, then subsequently completed an initial shipment of 105 dmt of lead-silver concentrate and
70 dmt of zinc concentrate. The shipment was completed as part of Silver Storm’s previously
announced offtake prepayment agreement. Silver Storm plans to continue increasing s ulphide
circuit processing rates with a goal of ramping up toward the nameplate capacity of 1,250 tonnes
per day. Metalla expects to receive initial cash flows from La Parrilla during the 2026 fiscal year;
• On June 1, 2026, IAMGOLD Corp. (“ IAMGOLD”) announced an updated Mineral Resource
Estimate (“ MRE”) for the Côté gold mine. The updated MRE integrates the Côté and Gosselin
zones, including the connecting saddle area, into a single geological and resource framework.
Updated Measured and Indicated Mineral Resources, inclusive of Mineral Reserves, total led 12.7
million ounces of gold at Côté, and 7.4 million ounces of gold at Gosselin, and a total consolidated
Measured and Indicated Resource, inclusive of Mineral Reserves, of 20.3 million ounces of gold.
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Updated Inferred Mineral Resources totalled 2.0 million ounces of gold at Côté, and 0.9 million
ounces of gold at Gosselin, and a total Inferred Mineral Resource of 3.5 million ounces of gold. The
updated MRE will inform the upcoming Côté Gold Technical Report and mine plan, which remains
on track for release in the fourth quarter of 2026;
• On July 27, 2026, the Company filed a short form base shelf prospectus, and a corresponding
registration statement on Form F-10 that replaced the expiring base shelf prospectus and Form F-
10 registration statement previously filed by the Company in 2024; and
• On June 23, 2026, the Company announced the release of its 2026 Asset Handbook outlining the
Company’s gold, silver, and copper production, development, and exploration assets, as well as
Mineral Reserve and Mineral Resource data for the underlying properties. The Asset Handbook is
available on the Company’s website.
Key operating and financial metrics for the Company include:
Three months ended Six months ended
June 30, June 30, June 30, June 30,
2026 2025 2026 2025
Revenue from royalty interests(1) $ 5,224 $ 2,695 $ 8,288 $ 4,416
Net income (loss) $ 1,223 $ (1,736) $ 1,334 $ (2,467)
Earnings (loss) per share - basic and diluted $ 0.01 $ (0.02) $ 0.01 $ (0.03)
Adjusted EBITDA(2) $ 3,850 $ 1,485 $ 5,713 $ 2,351
Total attributable GEOs(2) 1,173 840 1,833 1,468
Average realized price per attributable GEO(2) $ 4,504 $ 3,289 $ 4,636 $ 3,104
(1) Includes fixed royalty payments.
(2) For the methodology used to calculate these measures including GEOs see Non-IFRS Financial Measures.
OUTLOOK
In 2026, the Company continues to expect to receive or accrue payments on 3,500 to 4,500 attributable
GEOs. The lower end of the range reflects current operating assumptions and known constraints, while the
upper end incorporates the potential impact of improved grades, continued ramp -up of key assets, and
contributions from new sources of cash flow. Attributable GEOs are expected to be weighted toward the
second half of 2026, reflecting the timing of higher -grade production and the continued ramp -up of key
assets.
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ASSET UPDATES
Below are updates during the three months ended June 30, 2026, and subsequent period to certain of the
Company’s assets, based on information publicly filed by the applicable project owner:
Producing Assets
Tocantinzinho
On July 9, 2026, G Mining Ventures Corp. (“G Mining”) announced preliminary gold production of 36,845
oz at Tocantinzinho, an increase of 16% compared to the first quarter, and gold sales of 37,439 oz during
the second quarter of 2026. G Mining reported that Tocantinzinho achieved record quarterly mining of 6.3
Mt in Q2 2026, and the planned commissioning of additional haul trucks and a front-end loader is expected
to further support increased mining rates. G Mining also stated that it remains on track to achieve its 2026
production guidance of 160–190 koz of gold with production expected to be weighted towards the second
half of the year as higher -grade phase 2 mineralization becomes available in accordance with the mine
plan.
Metalla accrued 280 GEOs from Tocantinzinho for the second quarter of 2026.
Metalla holds a 0.75% GVR royalty on Tocantinzinho.
Wharf
On August 5, 2026, Coeur Mining, Inc. (“Coeur”) reported second quarter gold production of 18.1 koz at
Wharf, an increase of 85% quarter over quarter. Coeur stated that higher production during the quarter
was driven by increased ore tonnes placed, reflecting the successful return to normal crushing rates
following the November 2025 crusher fire, bolstered by contract crushing exceeding planned throughput.
Concurrent with the completion of the secondary and tertiary crusher upgrades, demobilization of the
contract crushing is complete and normal site operations have resumed. Coeur also announced that
exploration expenditures during the second quarter totalled $5 million and were focused on a mix of
expansion and infill drilling at Juno, North Foley, Boston, and Summit Flat targets. In 2026, exploration
programs at Juno and North Foley are expected to build on the 2025 expansion and infill drilling. Other
targets, including Annie Creek and Summit Flat, are also expected to undergo expansion and infill drilling,
while scout drilling is expected to continue development of the inferred resource pipeline. Coeur reiterated
its previous guidance for 2026 of 72-90 koz gold production and $10-$12 million on exploration expenses.
Metalla accrued 344 GEOs from Wharf for the second quarter of 2026.
Metalla holds a 1.0% GVR royalty on the gold produced at Wharf mine.
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Aranzazu
On July 10, 2026, Aura Minerals Inc. (“ Aura”) reported second quarter preliminary production from
Aranzazu of 17,882 GEOs (as defined by Aura), marking a 14% increase over the first quarter of 2026,
resulting mainly from metal prices and their impact on conversion to GEOs (as defined by Aura).
Metalla accrued 157 GEOs from Aranzazu for the second quarter of 2026.
Metalla holds a 1.0% NSR royalty on Aranzazu.
Endeavor
On July 14, 2026, Polymetals Resources Ltd. (“Polymetals”) reported silver production of 396,485 oz, zinc
production of 3,268 tonnes, and lead production of 2,061 tonnes in the second quarter of 2026. Record
production was achieved during the quarter increasing by 48% quarter -on-quarter with ore drawn from
both the Main Lode and the Upper North Lode ( “UNL”). Subsequent to quarter end, Polymetals
commenced its first processing trial campaign of high-grade UNL ore. Polymetals stated that initial results
have been positive and demonstrated a pathway to optimize value by leveraging both concentrate from
milling and Direct Shipping Ore to markets to maximize revenue. Polymetals also reported revenue of
A$45.8 million in the quarter, an increase of 65% quarter-on-quarter.
On June 24, 2026, Polymetals reported that the first 12 underground diamond holes of a 34-hole campaign
confirmed broad zones of high-grade silver-lead-zinc mineralization remain intact in the upper Main Lode,
adjacent to existing mine development. Polymetals stated that the drilling and assaying has strengthened
the potential to add high-grade silver-lead-zinc mineralization to the mining inventory at Endeavor.
Metalla accrued 314 GEOs from Endeavor for the second quarter of 2026.
Metalla holds a 4.0% NSR royalty on lead, zinc and silver produced from Endeavor.
La Guitarra
On July 14, 2026, Sierra Madre Gold and Silver Ltd. (“ Sierra Madre”) reported that it had received
regulatory approval for drilling in the East District of the Guitarra Mine silver-gold complex. The drilling will
test up to 30 different mapped vein systems and will be the first phase of a fully budgeted 30,000 metre
drill program.
Metalla accrued 34 GEOs from La Guitarra for the second quarter of 2026.
Metalla holds a 2.0% NSR royalty on La Guitarra, subject to a 1.0% buyback for $2.0 million. The Company’s
NSR royalty covers 100% of the Guitarra complex, including the Guitarra, Coloso, and Nazareno mines.
La Encantada
On July 8, 2026, First Majestic Silver Corp. (“First Majestic”) reported production of 35 oz of gold from La
Encantada in the second quarter of 2026. During the quarter, two surface drill rigs completed 4,357 m of
drilling to concurrently test several new exploration targets and potential near -term mineralization
expansion areas.
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Metalla accrued 24 GEOs from La Encantada for the second quarter of 2026.
Metalla holds a 100% GVR royalty on gold produced at the La Encantada mine limited to 1.0 koz annually.
Amalgamated Kirkland (“AK”)
On July 29, 2026, Agnico announced that trucking of ore from the AK deposit to the LZ5 processing facility
commenced in the second quarter of 2026. The LZ5 mill processed 71,000 tonnes of ore from the AK
deposit and produced 7,800 ounces of gold.
On April 30, 2026, Agnico announced that it had received a permit amendment allowing ore from the AK
deposit to be processed at the LZ5 processing facility at LaRonde. Production from the AK deposit is
forecast to be approximately 40,000 ounces of gold in 2026.
Metalla received initial inaugural flows from AK during the second quarter of 2026 and accrued 6 GEOs
from AK for the second quarter of 2026.
Metalla holds a 0.45% NSR royalty on the Amalgamated Kirkland.
Development & Exploration Stage Assets
Côté-Gosselin
On June 1, 2026, IAMGOLD announced an updated National Instrument 43-101 - Standards of Disclosure
for Mineral Projects (“NI 43-101”) compliant MRE for the Côté gold mine. The updated MRE integrates the
Côté and Gosselin zones, including the connecting saddle area, into a single geological and resource
framework. Measured and Indicated Mineral Resources, inclusive of Mineral Reserves, totalled 12.7 million
ounces of gold at Côté, and 7.4 million ounces of gold at Gosselin, and a total consolidated Measured and
Indicated Resource, inclusive of Mineral Reserves, of 20.3 million ounces of gold. Inferred Mineral
Resources totalled 2.0 million ounces of gold at Côté, and 0.9 million ounces of gold at Gosselin, and a
total Inferred Mineral Resource of 3.5 million ounces of gold. The updated MRE will inform the upcoming
Côté Gold Technical Report and mine plan, which remains on track for release in the fourth quarter of
2026. The updated technical report is expected to outline an updated life -of-mine plan incorporating the
consolidated Côté and Gosselin pit, evaluate options for a plant expansion to leverage the larger
consolidated resource base, and update Mineral Reserves accordingly. Further details on the design,
scheduling, and economic parameters of the integrated operation will be disclosed at that time. IAMGOLD
is also planning an additional 30,000 m diamond drilling program for 2026. The next phases of diamond
drilling will aim to infill and test the ability to further expand the mineralized envelope for 2027.
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Figure 1: Côté Gold Longitudinal Section of 2026 Resource Shell and Mineralization (Source: IAMGOLD press release dated June 1, 2026)
Figure 2: Côté Gold Inclined View of Mineral Resources within 2026 Resource Shell and Mineralization (Source: IAMGOLD press release
dated June 1, 2026)
On August 6, 2026, IAMGOLD announced that expansion capital expenditures are expected to total
approximately $120 million in 2026, of which $85 million is budgeted for the Côté gold mine. IAMGOLD
indicated the expansion capital at Côté is to de-risk the contemplated Côté expansion, early works include
basic mill infrastructure and a significant pushback to expand the operating area of the pit. IAMGOLD also
stated that ore tonnes mined at Côté were 3.1 million tonnes, or 3% lower than the prior year period, due
to a slightly higher strip ratio of 2.8:1 as mining activities progressed in pushback areas.
IAMGOLD reported that the 2026 Gosselin zone exploration program includes approximately 10,000
metres of diamond drilling to test the north and north-east extensions of the Gosselin zone. Approximately
4,400 metres were drilled YTD with none completed in t he second quarter and drilling will resume in the
third quarter using the most recent drilling results obtained. IAMGOLD also stated that an infill drilling
program of 20,000 metres is ongoing on the Côté zone. Approximately 6,200 metres of surface diamond
drilling were completed in the second quarter 2026. The infill drilling program was planned to improve
resource confidence within the northeastern extension of the Côté deposit and convert Inferred Resources
into the Indicated Resources category.
Metalla holds a 1.5% NSR royalty that covers substantially all of the Gosselin Mineral Resource estimate
and ~7% of the Côté Mineral Reserves and Resources estimate in the northeastern portion of the Côté pit.
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Taca Taca
On July 28, 2026, First Quantum Minerals Ltd. (“ First Quantum”) reported that it continues to work
constructively with the provincial authorities, and the approval of the Environmental and Social Impact
Assessment (“ESIA”) is expected in 2026, following completion of the public consultation process. In April
2026, a hydrological feasibility certificate was issued, permitting sufficient water to support the first stage
of the project. The certificate will be converted into a water concession upon ESIA approval. First Quantum
is finalizing its Argentina Incentive Regime for Large Investments application with an intention to submit it
after receiving ESIA approval and water use concessions. First Quantum also stated, in its second quarter
of 2026 MD&A, that it is preparing a feasibility package for its 40 km access road to site. Additional technical
studies and a trace review were also commissioned for the 345kV powerline.
Metalla holds a 0.42% NSR royalty on Taca Taca subject to a buyback based on the amount of Proven
Reserves in a feasibility study multiplied by the prevailing market prices of all applicable commodities.
Copper World
On July 29, 2026, Hudbay Minerals Inc. (“Hudbay”) reported that the definitive feasibility study for Copper
World was progressing well, with 95% of the engineering work completed, and a project sanctioning
decision on track for late 2026. The study is expected to include scope for future mill expansion optionality.
On June 24, 2026, Hudbay reported the closing of a $52 million bond issuance. The gross proceeds are
intended to be used to finance, reimburse and refinance, as applicable, certain eligible expenditures at
Copper World.
Metalla holds a 0.315% NSR royalty on Copper World with the right of first refusal to acquire an additional
0.360% of the NSR royalty.
Fosterville
On July 29, 2026, Agnico reported that Fosterville produced 42 koz of gold in the second quarter of 2026.
Deep exploration drilling at Lower Phoenix continued to extend high-grade mineralization beyond current
mineral reserves. Notably, drilling in the Swan zone intersected 5.1 g/t gold over 21.4 m at 1,845 m depth,
approximately 55 m south of current mineral reserves. Additional drilling in the Cardinal zone returned 9.6
g/t gold over 10.2 m and 16.8 g/t gold over 4.5 m.
Metalla holds a 2.5% GVR royalty on the northern and southern extensions of the Fosterville mining license
and other areas within the land package. The Phoenix/Swan mineralization is on strike with Metalla’s royalty
ground to the south, making continued ex tension of the Swan zone south of current mineral reserves
particularly relevant to Metalla.
La Parrilla
On August 6, 2026, Silver Storm released infill diamond -drill results from the Rosarios Zone at its 100% -
owned La Parrilla silver mine complex, where the top three intercepts were hole IDP-RO-26-007 at 200 g/t
AgEq over 15.35 m, hole IDP -RO-26-004 at 215 g/t AgEq over 11.90 m, and hole IDP -RO-26-005 at 297
g/t AgEq over 7.30 m (plus additional hits including 481 g/t AgEq over 1.65 m and 239 g/t AgEq over 5.90
m). Silver Storm stated that the near-surface, infrastructure-proximal results highlight potential to extend