Wasamac | Metalla Royalty & Streaming Ltd.

Wasamac

DEVELOPMENT PROJECTAu1.50% NSR Royalty

Canada

View in Asset Handbook →

Producing Development Advanced Exploration Exploration

OPERATOR

Agnico Eagle Mines Limited

LOCATION

Canada

METAL

Gold (Au)

TERMS

1.50% NSR Royalty

STATUS

Development

Project Overview

Wasamac is a development-stage underground gold project near Rouyn-Noranda, Quebec, owned and operated by Agnico. Wasamac is adjacent to the Trans-Canada Highway and Ontario Northland rail line, and approximately 100 km west of Agnico Eagle’s Canadian Malartic complex. Agnico has indicated that it envisions the project as an underground bulk mining operation. Ongoing studies have advanced a development scenario that would truck Wasamac ore to the Canadian Malartic complex for processing, eliminating the need for an on-site processing plant and tailings facility.

The initial assessment led to the conversion of 1.38 Moz of gold into Mineral Reserves as at December 31, 2025. Agnico has indicated that the revised project configuration could support an approximately 15 year mine life and would reduce the project’s overall surface footprint.

In 2026, Agnico plans to continue technical evaluation and permitting work at Wasamac as it advances studies on mining rate, development sequencing and ore processing at Canadian Malartic. Permitting and environmental work remains ongoing, including applications related to bulk sampling and project infrastructure.

Metalla holds a 1.5% NSR royalty on Wasamac, subject to a 0.5% buy back for C$7.5 million.

Reserves & Resources

CATEGORYAU (KOZ AU)METALLA GEOS (KOZ)

Proven & Probable Reserves1,37720.7

Measured & Indicated Resources66710.0

Inferred Resources3124.7

Metalla GEOs reflect the attributable gold-equivalent ounces under the 1.50% NSR Royalty. Resources shown exclusive of reserves. See Asset Handbook for full notes.

Mineralization Map

Mineralization

Royalty Boundary

Recent Updates

Jul 29, 2026Q2 2026 FINANCIAL STATEMENT

On July 29, 2026, Agnico reported it is advancing internal evaluations on the development of the Wasamac underground project to provide feed for the mill at Canadian Malartic. Agnico envisions an underground satellite operation at Wasamac with a planned mining rate of approximately 3,200 tpd. Ore is expected to be transported to the Canadian Malartic mill for processing, with average annual gold production expected to be approximately 90,000 ounces with the potential for initial production as early as 2033. In the second quarter of 2026, Agnico continued to advance optimization and trade‑off studies alongside permitting activities and engagement with stakeholders. Agnico also stated that the rock mass movement that occurred at the Barnat open pit at Canadian Malartic on July 1, 2026, will not affect the Canadian Malartic satellite plan.

Apr 30, 2026UPDATE

On April 30, 2026, Agnico announced a potential underground satellite operation with a planned mining rate of approximately 3,200 tpd at Wasamac. Ore is expected to be transported to the Canadian Malartic mill for processing, with average annual gold production expected of 90,000 ounces as early as 2033. In the first quarter of 2026, Agnico stated that they advanced optimization and trade‑off studies alongside permitting activities and engagement with stakeholders.

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