Metalla Royalty & Streaming : TO ACQUIRE STRATEGIC NEVADA ROYALTY PORTFOLIO

METALLA TO ACQUIRE STRATEGIC NEVADA ROYALTY PORTFOLIO

FOR IMMEDIATE RELEASE	TSXV: MTA
November 4, 2020	NYSE AMERICAN: MTA

Unless otherwise specified, all references to dollars set forth herein shall mean United States dollars.

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

(TSXV: MTA) (NYSE American: MTA) is pleased to announce that it has entered into share purchase agreements with two privately held Utah corporations, Genesis Gold Corporation ("Genesis") and Geological Services Inc ("Geological"), whereby a wholly-owned subsidiary of Metalla will acquire 100% of the issued and outstanding shares of Genesis & Geological for an aggregate of $4.125 million in cash and common shares of Metalla (the "Transactions"). Genesis and Geological hold a portfolio of royalties in Nevada and Utah as described below.

TRANSACTION HIGHLIGHTS

• Advanced-StageExploration Portfolio: Genesis and Geological together hold eleven royalties covering more than 21,500 hectares of Carlin-type and epithermal deposits within the Battle Mountain-Eureka, Carlin and Independence trends in Nevada;
• Accretive Growth and Increased Size and Scale: Will expand Metalla's portfolio to sixty- two royalties and streams upon closing;
• Strategic Land Package: Will increase Metalla's exposure to the Cortez trend by expanding royalty footprint continuously to the south of Goldrush, owned by Nevada Gold Mines, a joint venture between Barrick (NYSE: GOLD) and Newmont (NYSE: NEM);
• Counterparty Diversification: Counterparties include Nevada Gold Mines, Contact Gold, Ridgeline Minerals, Discovery Harbor, Anova Metals, and others.
• Immediate Advanced Royalty Payments: Some royalties in the portfolio pay advanced and escalating royalty payments on an annual basis; and
• Enhanced Nevada Exposure: Ten of the royalties are in Nevada (one is in Utah) and apply to some of the largest known gold bearing geological trends in the world.

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Brett Heath, President and CEO of Metalla, commented, "This transaction marks our sixth deal in 2020 in what has been one of our most active years since inception. We are pleased to significantly bolster our Nevada footprint with eleven development and exploration gold royalties, expanding our existing Cortez footprint." Mr. Heath continued, "the acquisition provides shareholders exposure to one of the top jurisdictions in the world covering more than 210 square kilometers on the Battle Mountain-Eureka, Carlin and Independence trends in Nevada. This year has showcased our premium pipeline and ability to transact on high quality royalties on an accretive/bilateral basis across various geographies that provide exposure to top counterparties and proven geological trends in Nevada, Australia, USA and Chile."

The aggregate consideration payable by Metalla for the shares of Genesis and Geological will be satisfied by Metalla issuing $3.125 million in common shares based on the ten-day volume- weighted average price of shares traded on the TSX Venture Stock Exchange ("TSXV") at a price of approximately C$10.22 (representing an aggregate of 401,875 common shares of Metalla) to be issued as milestone payment on January 4, 2021, and $1.0 million in cash at closing. The transaction is subject to customary closing conditions and exchange approvals and is expected to close in November 2020.

ROYALTY PORTFOLIO MAP

PINE VALLEY (3.0% NSR)

The Pine Valley royalty claims cover approximately 1,060 hectares of exploration land east and south of Nevada Gold Mines's Goldrush deposit along the Battle Mountain-Eureka trend. Prior to the formation of the Nevada Gold Mines joint venture, Barrick has stated the Goldrush deposit is

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a large Carlin-type gold development project with initial production projected for 2021, which will progress toward a steady-state production of ~500Koz of gold per annum during its first full five years of operation(3). Goldrush's reserve estimate is currently 2 million ounces at 9.7 g/t gold, which is exclusive of an additional measured and indicated resource estimate of 9.4 million ounces at 9.4 g/t gold(3). Barrick stated that mineralization at Goldrush is open along strike towards the north and east where the royalty property continues with the favorable stratigraphic host of the Goldrush, Cortez Hills, and Pipeline deposits, and has identified a mineral potential area known as Goldrush South(3) on the Anglo/Zeke and Pine Valley claims. This land package will complement and overlap a portion of Metalla's Cortez trend royalty land package that it acquired in May 2020 and will provide Metalla with $100,000 per year in advanced royalty payments for the next 14 years or until commercial production is achieved on the claims. The royalty is subject to a buydown that expires in June 2022 of 1.5% for $1.5 million.

CORTEZ TREND ROYALTY MAP

BIG SPRINGS & GOLDEN DOME (2.0% NSR)

Big Springs is a large Carlin-type gold deposit on the Independence trend north of the operating Jerritt Canyon Mine in Elko, Nevada, being operated by Jerritt Canyon Gold LLC. Jerritt Canyon Gold LLC is privately owned by Sprott Mining Inc. which is wholly owned by Eric Sprott(1). Big Springs is the flagship asset of Anova Metals Limited (ASX: AWV) is an exploration and development company currently planning a large exploration program in 2020. Big Springs is a brownfields project where a joint venture between Freeport McMoRan and Independence Mining produced 386Koz at an average grade of 4.1 g/t gold between 1987 and 1993(4). Anova Metals is planning follow up and definition drilling on several brownfield targets specifically South Sammy where

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significant intersections from 2017 returned 10.7 metres at 30.9 g/t gold and North Sammy where historical intersections returned 19.8 metres at 9.9 g/t gold. Other targets include Beadles Creek, Mac Ridge East and Beadle Creek South. Golden Dome covers the southern end of the property, where historical drilling has returned intersections including 6.1 metres at 3.05 g/t gold with striking similarities to the nearby Jerritt Canyon mine(4). On October 19 2020, Anova began drilling at Big Springs(4).

BIG SPRINGS RESOURCE ESTIMATE(2,4)

Reserves & Resources

	Tonnes		Gold
	(000's)	(g/t)	(Koz)
Measured Resources	641	5.6	116
Indicated Resources	4,762	2.2	343
Inferred Resources	10,630	1.7	570
M&I&I Resources	16,032	2.0	1,030

GREEN SPRINGS (2.0% NSR)

Green Springs is a Carlin-type gold project located in the southern end of the Cortez trend operated by Contact Gold (TSXV: C). Green Springs is 20km southeast of Fiore Gold's producing Pan Mine and 45km south of Kinross Gold's Bald Mountain mine complex. Green Springs historically produced 74Koz of gold at 2.31 g/t in the late 1980's under US Minerals Exploration's heap leach operation. Recent drilling in 2019, intercepted high grade mineralization in the Echo zone including 2.36 g/t over 70.1 metres and 3.53 g/t gold over 38.1 metres in shallow oxides. Drilling in the Alpha property intercepted shallow oxide hole of 1.34 g/t gold over 28.86 metres and 1.68 g/t gold over 35.05 metres. The 9,000 metre drill program in 2020 will focus on follow up drilling of high priority targets to expand the resource and further exploration drilling at depth and at frontier targets such as Tango, Whiskey, Foxtrot, Golf and Zulu(5).

CALDERA (1.0% NSR)

Caldera is a low sulphidation epithermal deposit northwest of Tonopah, Nevada, located less than 50km from Kinross Gold's Round Mountain mine operated by Discovery Harbour Resources (TSXV: DHR). Previous focus was on a shallow low-grade bulk tonnage gold deposit which intersected high-grade results spread along a 6.5 km strike length with an average drilling depth of less than 100 metres. Significant results include 8.33 g/t gold over 7.6 metres, 37.92 g/t gold over 3 metres and 22.4 g/t gold over 2.2 metres. Recent focus has shifted to deeper drilling targeting a high-grade prospect at depth within the boiling zone. With funding in place, 10 drill sites have been proposed for a Fall 2020 drill program with each hole targeting a 300-500 metre depth. Discovery Harbour is awaiting permits for the proposed drill program(6).

ROYALTY PORTFOLIO

Asset

Counterparty

Location

Royalty Terms