Metallic Minerals Engages GoldSpot Discoveries to Apply Machine Learning and AI Techniques at the High-Grade Keno Silver Project in Yukon, Canada

VANCOUVER, October 7, 2020 - Metallic Minerals Corp. (TSXV:MMG)(US OTC:MMNGF) ("Metallic Minerals" or the "Company") announces that it has engaged GoldSpot Discoveries Corp. (TSXV:SPOT) ("GoldSpot") to apply their proprietary machine learning technology and geoscience expertise on the Company's flagship Keno Silver project, located in Canada's Yukon Territory. GoldSpot will work closely with Metallic Minerals' technical team to analyze geological, geochemical, and geophysical data covering the company's advanced and early stage targets in the high-grade Keno Hill Silver District.

GoldSpot Discoveries Corp. is a mining-focused technology company that is working with some of the leading exploration and mining names in the industry to apply cutting edge Artificial Intelligence ("AI") algorithms to significantly increase the efficiency and success rate of mineral exploration. Recent successes by GoldSpot with both leading producers and explorer/developers have demonstrated the potential to expand resources and make new discoveries using this advanced analytical technology.

Denis Laviolette, Executive Chairman and President of GoldSpot, stated: "We are extremely pleased to be engaged again by the Metallic Group. Our teams have meshed very well in the ongoing collaboration with Group Ten Metals where our work is already delivering value to an exciting PGM and battery metals project. We look forward to continuing to build our relationship with Metallic Minerals and achieving exploration successes with them. We are excited to be working on a silver-focused project in a data-rich historic mining district that is a perfect fit for our cutting-edge technologies. We can't wait to get started."

Greg Johnson, Chairman and CEO of Metallic Minerals, commented: "We look forward to working with the Goldspot team on a second Metallic Group company. Goldspot's innovative AI techniques are particularly relevant to our Keno Silver project, as we have numerous target areas across a 35-kilometer-wide district with an extensive exploration database. Their work, in tandem with our technical team's extensive knowledge of the Keno Hill silver district and similar high-grade silver districts globally, should add to our ability to quickly and cost-effectively refine and prioritize existing exploration targets while driving new high-grade silver discoveries in less explored areas of this prolific and famously metal-rich mining region."

Mr. Johnson continued, "Our 2020 exploration program continues at the Keno Silver project, where a second drill has been added to the program that is currently core drilling at advanced targets in the West Keno area. This year's programs have been designed to expand areas of known silver mineralization in the advanced target areas, as well as to test a number of exciting new multi-kilometer-scale targets on the eastern part of the Keno Hill silver district, which have never been previously drilled. We look forward to providing more comprehensive updates and further information as we start to receive results from our on-going programs and begin our work with GoldSpot."

About Metallic Minerals

Metallic Minerals Corp. is a growth stage exploration company, focused on high-grade silver and gold in underexplored brownfields mining districts. Our objective is to create shareholder value through a systematic, entrepreneurial approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new discoveries and advancing resources to development. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry's highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon's high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGE-nickel-copper district of Montana, and Granite Creek Copper in the Yukon's Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry's leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

The Company is monitoring recommendations and guidance for COVID-19 in all communities in which we operate and has implemented precautionary measures to reduce the risks associated with its spread.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.metallic-minerals.com
Email: chris.ackerman@metallic-minerals.com
Phone: 604-629-7800
Toll Free: 1-888-570-4420

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts including, without limitation, statements regarding including the closing date of the Offering and the use of proceeds of the Offering, risks relating to the ability of the Company to obtain required regulatory approvals, complete definitive documentation, fulfill all conditions precedent, complete the Offering on the terms announced, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Metallic Minerals Corp.