Metallis Resources Inc. provides this midseason update on its 2021 drill program and the concurrent field exploration campaign at its 100%-owned Kirkham Property. The Property is situated in the prolific Eskay Camp of the Golden Triangle, northwestern British Columbia, a district well-known worldwide for the past producing Eskay Creek and Snip gold mines, Seabridge's KSM porphyry deposits and Pretium's producing Brucejack gold mine. The planned 8,000 meter ("m") 2021 drill program (the "Program") is focused on two overlapping distinct types of mineralization at the 4 km long Cliff-Miles Porphyry corridor; the primary stage copper-gold mineralization which extends down to an approximate 800m depth and the central 2 km long gold-rich zone. The company is currently drilling its fifth hole with over 3,000 m drilled. The four completed holes have encountered long sections of stockwork and disseminated mineralization. The initial two drill holes, KH21-39 and KH21-40 encountered wide mineralized zones like nearby KH18-13 (intersected 245.5m @ 0.40 CuEq*) and KH20-36 (intersected 490.8m @ 0.33 g/t AuEq including 56.2m @ 0.50 g/t AuEq). The third drill hole KH21-41 cut across the central Cliff-Miles zone and has highlighted an interplay of Feldspar Porphyry ("FP"), highly silicified and well-mineralized Medium Porphyry ("MP") and host siliciclastic rocks. These altered rocks are known to carry significant amounts of gold as intersected last year in drill hole KH20-37, which returned 83.0m @ 0.68 g/t AuEq including 32.0m @ 1.24 g/t AuEq. The fourth drill hole, KH21-42, is one of the most encouraging holes to date. The hole was designed to test below the promising results of KH21-41 into a highly silicified, chalcopyrite bearing, quartz-vein-stockwork contained within Hawilson porphyry and clastic rocks. Most of the drill core from KH21-42 contained highly siliceous rocks while a 150 m section exhibited some of the best chalcopyrite concentrations observed to date. KH21-42 will also serve to improve the Company's understanding of the geometry and evolution of the porphyry as well as delineating further potential at depth. In conjunction with the drill program, geologists are currently mapping the structural setting and dimensions of the porphyry intrusions at the Cliff-Miles porphyry corridor. The initial interpretation of the field and drilling data so far indicates a distinct 030o strike of the mineralized porphyry intrusions, which has now opened a huge unexplored area to the north and northwest. This exercise has allowed Metallis' geologists to optimize the drill collars and continue to tweak the design of the on-going 2021 drill program. Reconnaissance geological mapping has now outlined several areas of sulphide mineralization in the mudstone and rhyolite units belonging to the Hazelton Group. These rock-types are widely exposed at Mount Dunn, located in the western part of the property. Due to being miss-assigned as part of the Stuhini Group by previous provincial and operator surveys, along with recent glacial retreat, Mount Dunn represents an underexplored area of Hazelton rocks prospective for hosting precious metal-rich VMS deposits like the nearby Eskay Creek mine. The field mapping combined with results from the recent ZTEMTM and upcoming IP survey will continue to evaluate the Hazelton rocks and its VMS potential at the Kirkham Property.