Borse Express – Metallis Resources Inc: ZTEM Specifies Longitudinal and Deep Structure Control in Hawilson Mineralization and Stresses Chamber for Additional Extensions

April 7, 2022And the Vancouver, British Columbia). Metallis Resources Inc. (TSX-V: MTS, aTCQB: MTLFF, FWB: 0CVM) (“Metallis” or the “Company”) reports preliminary results from the 2021 Z-Axis Tipper Electromagnetic Survey (“ZTEM” or the “Survey”) across Kirkham’s 100% company-owned property (the “Property”). The property is located on the prolific Eskay Camp in the Golden Triangle in northwest British Columbia – an area known for the formerly produced Eskay Creek and Snip gold mines, the KSM porphyry deposits at Seabridge and the Brucejack gold mine produced in Pretium.

Nicholas Dudek, Senior Geologist at Metallis, said, “The comprehensive and deep penetrating ZTEM survey combined with Metallis’ current geological and geophysical knowledge has given us a better view of the property’s potential. Hawilson monzonite shows a distinctive resistance/conductivity pattern that is attributed to its extensive structural environment, This structure is explored progress And help find additional targets around the property in the future. “

Investigation highlights

The 2021 ZTEM survey identified a distinct resistance structure associated with the Hawilson monzonite mineral.

The survey shows that the mineralization that controls the structure continues below the company’s deepest drilling hole and to the north toward the undrilled areas of the Hawilson monzonite.

Survey results will help set drilling and ground/mapping targets for 2022.

The western (higher) portions of the property are showing increasing resistance due to the Hazelton Group rising disproportionately. The eastern region shows a low resistance structure associated with the Stuhini Group (Click here to go to Figure 1 https://bit.ly/3uX2ljT) . The entire group of rocks is folded slightly, with curved axes protruding into the valleys, exposing more stohini and allowing lower resistance to “crawl” up streams and rivers.

The ZTEM survey at Cliff-Miles (see Fig. 1) shows a characteristic 4 km low resistance intersecting with the Hazelton high resistance and general trend disruption. This anomaly is a quasi-parallel orientation and arises from the Adam fault, the footwall of the Stuhini low resistance and the broad orientation of the Howilson mineral monzonite.

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ZTEM cross sections (Click here to go to Figure 2 https://bit.ly/37rjIkM) Show the fracture of the overlying Hazelton and how it relates to the Adam’s fault and the wall of the foot. This fracture, potentially a corroded and cracked axon, is associated with Hawilson monzonite intercalation, porphyry stages, and then the later epithelial layer. This is ZTEMThe structure can be used as a model for further regional exploration of the property.

Domestically, resistance surges coincide with areas of fracturing and gold mineralization indicating more potential in the East (Click here for Figure 3 https://bit.ly/3LO9lWU And the Here for Figure 4https://bit.ly/3JiCPKM). The low resistance traveling through the well-defined Adam’s fault leaves room for additional digging in depth in the Howlson Monzonite.

ZTEM’s anomalous echoes, which are similar to those of monzonite Hawilson and others such as Thunder North, will be reported in future newsletters.

About the investigation

Research conducted by Geotech Ltd. It comprises a total of 879 linear kilometers of ZTEM data and magnetometer data and covers most of the 106 square kilometer property. Covered areas are shown in Figure 1 (linked above). In addition, this survey covered a short distance of Garibaldi Resources Corp.’s adjacent land holdings. in the North and Eskay Mining Corp. It extends to the east.

Z-Tipper Axis Electromagnetic (ZTEM) is an airborne electromagnetic survey system that measures variations in the naturally occurring electromagnetic properties of rocks caused by thunderstorms worldwide. This magnetic field is flat, i.e. constant in all directions, but there are measurable disturbances in regions of highly conductive or resistive rocks.

Types of rocks with high resistance or high conductivity include ore deposits, faults, and metamorphic zones. ZTEM surveys are designed to map resistance/conductivity discrepancies at depths greater than 1-2 km, making ZTEM well suited for finding hosted and structurally controlled exploration targets at depth.

Survey data was analyzed and interpreted by the company’s geophysicist, Jules Lajoie, who created the three-dimensional resistivity voxel that the geologic team used to correlate resistivity properties with geological settings.

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Qualified expert

David Dupre, P.Geo, Vice President – Exploration and Qualified Person as defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.

About Kerkham

100% owned 106 km2 Kirkham’s prime property is located 65 km north of Stewart, British Columbia in the heart of the prolific Camp Eskie in the Golden Triangle. The property is expected for multiple mineral deposit patterns and is located along a strategic geological boundary – the ‘red line’ at the western margin of the Eskay Rift system in the Golden Triangle (NWB).

The Kirkham estate is bounded to the north by Garibaldi Resources Corp’s E&L Nickel Mountain project. and to the east on the property of Eskay Mining Corp. The concession area It is located 12 km from the Eskay Creek Mine, while the eastern boundary is 12 to 20 km from the Seabridge Gold’s KSM deposit and Brucejack Pretium Resources mine.

About Metalis

Metallis Resources Inc. is a Vancouver-based company engaged in prospecting for gold, copper, nickel and silver on its 100% owned Kirkham i Corporation.M The Golden Triangle is centered in northwest British Columbia. Metallis is traded on the TSX Venture Exchange under the symbol MTS, on the OTCQB exchange under the symbol MTLFF and on the Frankfurt Stock Exchange under the symbol 0CVM. The Company currently has 52,839,878 ordinary shares issued and outstanding.

For the board of directors:

/ signed / “Fiore Aliperti”

CEO, President and Director

Contact for more information:

Tel: +1 604-688-5077

email: [email protected]

website: www.metallisresources.com

Cautionary statement regarding forward-looking statements

This press release may contain statements that constitute “forward-looking” statements, including statements regarding the current plans, intentions, beliefs and expectations of the Company or its directors or officers regarding the Company’s future business and operating performance. The words “may,” “will,” “could,” “will,” “intend,” “plan,” “expect,” “believe,” “estimate,” “expect,” and similar expressions to the extent they refer to the company or its management Identification of forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future business or results and involve risks and uncertainties, and the Company’s future operations may differ materially from those projected in the forward-looking statements due to various factors. These risks, uncertainties and factors are described in the circular filings of the Canadian Securities Regulators, including the Quarterly and Annual Management Discussion and Analysis, filed with SEDAR at www.sedar.com It can be viewed or seen. If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from the intended, planned, projected, projected, estimated or projected results described herein.

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