NuevaUnión

NuevaUnión is one of the largest undeveloped copper-gold-molybdenum projects in the Americas and is being jointly-developed by Teck Resources Limited ("Teck") (NYSE: TECK) and Newmont Corporation ("Newmont")(NYSE: NEM). The project is located in the Atacama region of Chile and is comprised of two orebodies, Relincho and La Fortuna, which are 40 km apart and were combined to create NuevaUnión. Metalla's NSR covers the Cantarito claim, which is part of the proposed open pit at the La Fortuna deposit and prospective exploration ground to the southeast. A pre-feasibility study was completed in early 2018, which showed annual average production of 224,000 tonnes of copper, 269 Koz of gold, and 1,700 tonnes of molybdenum in the first five years.

Teck discussed an updated preliminary economic assessment where the initial stage development of NuevaUnión contemplates a conveyor to transport ore from La Fortuna to a mill at the Relincho site. Work for the year will be focused on establishing a cost-effective path forward for NuevaUnión.

Metalla holds a 2.0% NSR royalty on the Cantarito mineral claim, which covers a portion of the La Fortuna deposit at NuevaUnión.