Metalla Royalty & Streaming : PROVIDES UPDATE ON WASAMAC AND CAMFLO ROYALTIES

METALLA PROVIDES UPDATE ON WASAMAC AND CAMFLO ROYALTIES

FOR IMMEDIATE RELEASE	TSXV: MTA
November 2, 2020	NYSE AMERICAN: MTA

Unless otherwise specified, all references to dollars ($) set forth herein shall mean Canadian dollars.

Vancouver, British Columbia: Metalla Royalty & Streaming Ltd. ("Metalla" or the "Company")

(NYSE American: MTA) (TSXV: MTA) is pleased to report Yamana Gold Inc. ("Yamana") (TSX: YRI)

(NYSE: AUY) (LSE:AUY) has announced by press release dated November 2, 2020 that it has entered into a definitive agreement (the "Agreement") with Monarch Gold Corporation ("Monarch") (TSX: MQR) whereby Yamana will acquire the Wasamac gold project (the "Wasamac Project") and the Camflo property and mill ( the "Camflo Property") and, collectively with the Wasamac Project, (the "Acquisition Properties") through the acquisition of all of the outstanding shares of Monarch not owned by Yamana pursuant to a plan of arrangement for aggregate consideration, including cash and shares, of approximately $152 million.

Metalla owns a 1.5% Net Smelter Return royalty, with a buy back right of 0.5%, for $7.5 million on the Wasamac Project and a 1.0% Net Smelter Return royalty on the Camflo Property (collectively, the "Royalty")

Brett Heath, President & CEO of Metalla commented, "We are thrilled to welcome Yamana Gold as a new counterparty of the Wasamac Project. Wasamac has existing proven and probable mineral reserves of 1.8 million ounces of gold at 2.56 g/t,(1) in one of the most prolific gold trends in the Abitibi region of Quebec, located approximately 100 kilometers from their 50%-owned Canadian Malartic mine which produced nearly 670Koz of gold in 2019(2). Yamana has extensive experience in operating bulk underground mines through its successful operation of the Jacobina Mine in Brazil which has a lower reserve grade than Wasamac(2). Yamana is a well-capitalized major producer with technical and geological expertise that will provide the Wasamac project a clear path to production with the potential for future discoveries."

YAMANA REPORTED THE HIGHLIGHTS OF THE TRANSACTION(3)

• Adds the Wasamac project to Yamana's Canadian exploration portfolio

1. Monarch's principal asset is the Wasamac gold underground project, located 15 kilometres west of Rouyn-Noranda in the Abitibi region of Quebec adjacent to the Trans-Canada highway and Ontario Northland rail line, and 100 kilometres from Yamana's 50%-owned Canadian Malartic mine.

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1. Wasamac consists of five well developed ore shoots within a single, continuous shear zone with a consistent grade distribution and wide mining widths, making it

amenable to simple, productive, and cost efficient underground bulk mining methods.

1. The project has existing proven and probable mineral reserves of 1.8 million ounces of gold at 2.56 grams per tonne.(1) Mineral resources and proven and probable mineral reserves are supported by a Feasibility Study(1) previously completed by
   Monarch Gold in 2018 (the "Wasamac Feasibility Study"), and Yamana completed independent geological modelling, mineral resources and mineral reserves validations, among other extensive work, as part of its due diligence reviews to ensure greater levels of accuracy. There remains excellent potential for significant

future exploration success and mineral resource conversion, with the deposit remaining open at depth and along strike.

1. As part of its due diligence on the property, Yamana conducted several site visits in

full compliance with provincial protocols for the prevention of COVID-19.

1. The currently defined deposit is situated at shallow depths in comparison to other Abitibi mines. Current known mineralization reaches a depth of approximately 800 metres, which offers the opportunity for ramp access at low relative up-front

development costs over a relatively short development time frame.

1. Wasamac fits well into the exploration and development strategy of Yamana, which aims to develop properties in mining friendly jurisdictions with mineral

inventories of over 1.5 million ounces that can support production levels of over 150,000 ounces per year that can be built with internal cash flows.

• 1. Yamana plans to build on the ongoing permitting and social licensing effort carried out by Monarch, applying Yamana's strong ESG framework and best practices, and leveraging the Yamana's extensive experience in permitting and proven track record of building strong, respectful, and mutually beneficial relationships with the communities and governments wherever it operates.
• Geology and mineralization well-suited to Yamana's expertise
• 1. The geological characteristics of the Wasamac ore body suggest it holds the potential to be an underground mine achieving the same scale, grade, production, and costs as Yamana's successful Jacobina mine in Brazil, and it possesses many parallels to Yamana's 50%-owned Canadian Malartic Underground Project located

in the same Abitibi region in Quebec.

1. Yamana will target increasing the inventory and perform optimizations to further enhance the project's value, advance engineering, and de-risk execution, leveraging Yamana's technical expertise and adhering to Yamana's disciplined

capital approach.

1. Building off the work completed to date, Yamana plans to commence an exploration and infill drilling campaign and other studies to refine and expand upon

the potential of Wasamac and its development alternatives.

• 1. Yamana will provide an update on its plans for the Wasamac project by the third quarter of 2021.
• Other Assets
• 1. The Camflo property, located 15 kilometres northwest of Val-d'Or, includes the old Camflo mine, which closed in 1992, and a permitted mill. The property has not been explored since the mid-1980s and Yamana believes it has good exploration upside. Monarch has digitized historical exploration data, which Yamana intends to review,

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after which it will make a determination whether to commence an exploratory drill program.

The transactions contemplated by the Agreement are subject to Monarch shareholder approval, applicable regulatory, court and stock exchange approvals and certain other closing conditions customary for transactions of this nature. Yamana and Monarch are working toward closing the transactions during 2020 and not later than early January 2021.

STRATEGIC RATIONALE

Yamana discloses that the acquisition provides it with a high-quality project with a significant mineral reserve and mineral resource base and excellent potential for further expansion. The acquisition adds to the Yamana's footprint in the Abitibi region, which is consistent with Yamana's strategy to build on its existing presence in established mining jurisdictions where it has deep technical, geological, and operational expertise. In addition, the acquisition of the Wasamac and Camflo properties adds to Yamana's pipeline of organic opportunities, significantly enhancing the Yamana's future growth prospects. Yamana has considerable experience in large bulk tonnage underground mines, experience which will support the development of Wasamac. Furthermore, the acquisition aligns with the Yamana's strategy for a balanced approach to capital allocation, as discussed further in the section that follows.

A BALANCED CAPITAL ALLOCATION STRATEGY THAT INCLUDES MEASURED GROWTH

Yamana balances two capital allocation priorities in addition to paying, maintaining and increasing dividends, which are balance sheet management and pursuing and funding growth. In the context of growth, Yamana pursues growth that is measured and consistent with the Yamana's size, scale and financial resources. Opportunities for growth should meet the Yamana's minimum requirements that they should be funded through internal mineral resources, meet minimum return levels that well exceed cost of capital, and be of a specific size. In terms of size, opportunities should have mineral reserves and mineral resources of at least 1.5 million ounces, which Yamana considers large enough to support a mine plan with annual gold production of approximately 150Koz for at least eight years. Yamana does not categorize opportunities based on their size alone nor tier assets into various categories. The objective is to deliver robust returns, significant cash flows, and accelerated payback. While the Yamana has a large portfolio of prospective and advancing exploration and development opportunities that will provide it with measured growth, as an extension of the strategy, Yamana will consider the acquisition of earlier stage exploration and development opportunities, particularly where Yamana can provide added value either through its regional presence, expertise or both. Yamana's due diligence on Wasamac suggests this transaction meets these criteria.

ABOUT YAMANA

Yamana is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through expansion and optimization initiatives at existing operating mines, development of new mines, the advancement of its exploration properties and, at times, by targeting other consolidation opportunities with a primary focus in the Americas. In 2020, Yamana expects to deliver production of 786,000 ounces of gold and 10.25 million ounces of silver. (4)

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ABOUT METALLA

Metalla was created to provide shareholders with leveraged precious metal exposure by acquiring royalties and streams. Our goal is to increase share value by accumulating a diversified portfolio of royalties and streams with attractive returns. Our strong foundation of current and future cash-generating asset base, combined with an experienced team, gives Metalla a path to become one of the leading gold and silver companies for the next commodities cycle.

For further information, please visit our website at www.metallaroyalty.com.

ON BEHALF OF METALLA ROYALTY & STREAMING LTD.

(signed) "Brett Heath"

President and CEO

CONTACT INFORMATION

Metalla Royalty & Streaming Ltd.

Brett Heath, President & CEO

Phone: [phone]

Email: [e-mail]

Kristina Pillon, Investor Relations

Phone: [phone]

Email: [e-mail]

Website: www.metallaroyalty.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accept responsibility for the adequacy or accuracy of this release.

Notes:

1. Please see the Monarch Goldpress releasedated December 3, 2018, to view the Wasamac Feasibility Study results.
2. Please seehttps://www.yamana.com/English/portfolio/producing- mines/jacobina/default.aspxandhttps://www.yamana.com/English/portfolio/producing-mines/canadian-malartic/default.aspx
3. Please see the Yamanapress releasedated November 2, 2020
4. Please seeYamana Company Overview

Information contained on any website or document referred to or hyperlinked in this press release shall not be deemed to be a part of this press release.

TECHNICAL AND THIRD-PARTY INFORMATION