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Canada
Metalla holds a 2% NSR royalty on a significant portion of the Garrison Project owned 100% by STLLR Gold. The project is situated directly on the prolific Destor-Porcupine Fault Zone host to numerous gold mines. The royalty covers the Garrcon, JonPol and eastern portion of the 903 deposit.
Garrison now forms a significant part of the Tower Gold Project. In May 2025, STLLR Gold released an updated Mineral Resource Estimate and Preliminary Economic Assessment outlining a combined open pit and underground mining operation with average annual gold production of 273 koz over a 19 year mine life and peak average annual production of 316 koz over the first five years. The study outlined an after-tax NPV% of C$1.36 billion and IRR 5 of 13.4% at a US$2,500/oz gold price. Within the updated 2025 Mineral Resource Estimate, the Garrison area comprises the 903, Jonpol and Garrcon deposits, with the Garrison area forming part of the early mine plan.
In 2026, STLLR Gold’s drill program at Jonpol includes an estimated 8,000 metres in the first half of the year, with second half plans being finalized. The program is focused on extending Jonpol’s open pit mineralization to the west, with the potential to increase strike length from approximately 400 metres to 1,200 metres, and on infill drilling to de-risk the block model and support higher-grade resource expansion. Recent results include 16.52 g/t Au over 5.85 metres, 6.03 g/t Au over 22.25 metres, including 12.67 g/t Au over 9.25 metres, and 10.10 g/t Au over 5.57 metres, highlighting potential to expand higher-grade mineralization within the Garrison area mine plan.
Metalla holds a 2.0% NSR royalty on Garrison.
Metalla GEOs reflect the attributable gold-equivalent ounces under the 2.00% NSR Royalty. Resources shown exclusive of reserves. See Asset Handbook for full notes.
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