MTA.V · 2023-07-11 12:00:00

Metalla Sells Cortez Mineral Claims to Nevada GOLD Mines FOR $5 Million and Declares a Special Dividend NYSE American: MTA

Mergers & Acquisitions Corporate Actions

METALLA SELLS CORTEZ MINERAL CLAIMS TO NEVADA GOLD MINES

FOR $5 MILLION AND DECLARES A SPECIAL DIVIDEND

NYSE AMERICAN: MTA

TSX-V: MTA

Unless otherwise specified, all references to dollars set forth herein shall mean

United States

dollars.

VANCOUVER, BC

July 11, 2023

/CNW/ - Metalla Royalty & Streaming Ltd. ("

Metalla

" or the "

Company

") (NYSE American: MTA) (TSXV: MTA) is pleased to

announce that it has closed on a purchase and sale agreement with

Nevada Gold Mines

, LLC ("

Nevada Gold Mines

"), an entity formed by Barrick Gold

Corporation and Newmont Corporation (NYSE: NEM), for the sale by Metalla of the JR mineral claims that make up the Pine Valley property ("

Property

") which is

part of the Cortez complex in

Eureka County, Nevada

, for

$5 million

in cash and Metalla will retain 3% NSR Royalty on the Property (the "

Transaction

").

Brett Heath

, President and CEO of Metalla, commented, "This transaction is a great example of the embedded optionality within our portfolio. With 85 assets,

we firmly believe as the portfolio matures, shareholders will continue to see years of smart deals turn into big wins.

" Mr. Heath continued, "We are excited to

declare a special dividend allowing shareholders of record to take part in this exciting sale. Our philosophy on paying dividends remains the same in the long-

term, aiming to pay out a portion of operating cash to shareholders as the Company's finances allow. We will also use the remaining proceeds to reduce debt

and make future royalty acquisitions."

BACKGROUND ON THE TRANSACTION

December 14, 2020

, Metalla acquired two private companies - Genesis Gold Corporation ("

Genesis

") and Geological Services Inc. - which together held a

portfolio of eleven royalties, for

$4.125 million

in cash and common shares of the Company (see news release of the Company dated

December 14, 2020

Pursuant to a Mining Lease agreement dated

June 28, 2002

, as amended (the "

Lease

"), Genesis had leased the Property for a term of 20 years, which term was

extended up to

June 28, 2023

. The Lease included annual advanced royalty payments of

$100,000

per year and a 3% royalty on production.

Pursuant to the Transaction, Metalla has extinguished the Lease and sold the Property outright to

Nevada Gold Mines

for

$5 million

and the retention by Metalla of

a 3% NSR royalty on the Property (the "

Royalty

"), which does not contain any buy-down or buy-back rights.

PINE VALLEY (3.0% NSR)

(1), (2)

The Property covers approximately 1,060 hectares of exploration land east and south of

Nevada Gold Mines'

Goldrush deposit along the

Battle Mountain

Eureka

trend. Prior to the formation of

Nevada Gold Mines

, Barrick stated that the Goldrush deposit is a large

Carlin

-type gold development project, which will progress

toward a steady-state production of ~450Koz of gold per annum during its first full five years of operation. Goldrush's reserve estimate is currently 8.0 million

ounces at 7.27 g/t gold, which is inclusive of measured and indicated resource estimate of 9.9 million ounces at 6.49 g/t gold and an inferred resource estimate of

4.5 million ounces at 5.9 g/t gold. Barrick stated that mineralization at Goldrush is open along strike towards the north and east where the Property continues with

the favorable stratigraphic host of Goldrush and has identified a mineral potential area known as Goldrush South on the Anglo/Zeke and the Property. The Royalty

complements and overlaps a portion of Metalla's Cortez trend royalty land package that it acquired in

May 2020

Cortez Royalty Map (CNW Group/Metalla Royalty and Streaming Ltd.)

SPECIAL DIVIDEND

Metalla is pleased to announce that its board of directors has approved and declared a special dividend (the "

Special Dividend

") payment on the common shares

of the Company (the "

"), in the amount of

C$0.03

per Share in cash (subject to any applicable tax withholding obligations).

The table below sets out the Special Dividend record and payment dates for shareholders of record.

Declaration

Date

Record Date

Payment Date

Payment Amount ($C)

Special

Dividend

July 10, 2023

August 1, 2023

September 15,

2023

$0.03

(1)

For payments of the Special Dividend to U.S. shareholders, the amount will be converted

to U.S. dollars based on the exchange rate as of September 15, 2023.

The Special Dividends in the above table are 'Eligible Dividends' pursuant to the Income Tax Act of

Canada

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 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

. Mr. Beaudry has not done sufficient work to classify the historical estimates disclosed

above as current mineral resources or mineral reserves, and the Company is not treating the historical estimates as current mineral resources or mineral

reserves.

ABOUT METALLA

Metalla is a precious metals royalty and streaming company. Metalla provides shareholders with leveraged precious metal exposure through a diversified and

growing portfolio of royalties and streams. 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 gold and silver 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"

Neither the TSXV 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 release.

Notes:

(1)

Information presented under "Pine Valley (3% NSR)" was obtained from the publicly available

Barrick Gold Quarterly Report dated October 25, 2017

Barrick Gold September 19, 2019 Presentation

Barrick Gold Corporation Q3 Conference Call November 1, 2012

and Barrick Gold Presentation dated February 15, 2023

and Technical Report on the Cortez Complex dated December 31, 2021.

(2)

Mineralization on Nevada Gold Mines' Goldrush deposit is not necessarily indicative of similar mineralization on the adjacent Property on which Metalla will hold the Royalty on completion of the Transaction.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information within the meaning of

United States

and Canadian regulations. 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

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

will

be taken, occur or be achieved.

Forward-

looking statements and information in this release include, but are not limited to, statements with respect to the use of proceeds of sale of the

Property; the payment of the Special Dividend and the anticipated timing thereof; the tax consequences of the payment of the Special Dividend; the anticipated

amount of the Special Dividend per Share; Goldrush mineral reserve estimates, mineral resource estimates, production estimates and potential for new

discoveries on the Property or elsewhere; the

future value of the Company's stock; future cash generation; and the Company's potential to become a leading

gold and silver 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

implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein,

including but not limited to: cash

flow; risks associated with the impact of general business and

economic conditions; 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 development, 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 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

. Although Metalla has attempted to identify important factors that could cause actual actions,

events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to

be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future

events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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 or information.

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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 11-JUL-23

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