Metallic Minerals Closes $1.6 Million First Tranche of Flow-Through Private Placement Financing

Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) has closed the first tranche of its non-brokered private placement, raising $1.6 million through the issuance of 4,000,000 flow-through common shares at $0.40 per share. The funds will support resource expansion drilling at the Keno Silver Project adjacent to Hecla Mining's operations in Canada's Yukon Territory, alongside further exploration of their alluvial gold portfolio in the Klondike District.

CEO Greg Johnson highlighted the strong investor interest from Canadian funds. He noted that his team will host a Keno Silver site visit during the Yukon Mining Alliance Property Tours and Investment Conference next week. The second and final tranche is expected to close by the end of June, with further updates to follow on Yukon's exploration plans and the La Plata project in Colorado.

Proceeds from the financing will be allocated to eligible Canadian Exploration Expenses as per Canadian tax regulations. All securities issued will be subject to a hold period under Canadian law. Final approval from the TSX Venture Exchange is pending. The FT shares have not been registered under U.S. securities laws and cannot be sold in the U.S. without proper registration or an exemption.