VANCOUVER, BC — February 11, 2026 — Leads & Copy —
Metalla Royalty & Streaming Ltd. has announced preliminary and unaudited results for the year ended 2025, along with recent developments in its royalty portfolio.
The company (NYSE American: MTA) (TSXV: MTA) anticipates recognizing record revenue from royalty and stream interests, including fixed royalty payments, of $11.7 million, a 99% increase compared to the $5.9 million in revenue from 2024.
Metalla expects to receive or accrue payments on 3,436 attributable Gold Equivalent Ounces (GEOs), representing a 38% increase compared to the 2,481 GEOs from 2024, for the year ended December 31, 2025. This is at the lower end of its annual guidance range of 3,500 to 4,500 GEOs for 2025. Ramp-up delays and a safety incident at Endeavor Mine and below internal forecasts at Wharf Mine negatively impacted attributable GEOs for the fourth quarter and year.
The company plans to release its 2026 guidance on March 26, 2026, along with its full-year audited financial statements.
Asset Updates:
Copper World: Mitsubishi’s $600 million strategic investment in Copper World has successfully closed, with a Definitive Feasibility Study (DFS) expected in mid-2026 to support a sanction decision in 2026.
Castle Mountain: The Castle Mountain Phase 2 Permitting Record of Decision is expected in December 2026.
Taca Taca: First Quantum anticipates key milestones in H1 2026, including environmental and social impact assessment (ESIA) and water permit approvals, and filing an application under Argentina’s Incentive Regime for Large Investments (RIGI).
Wharf: A fire was reported at the Wharf mine crushing facility.
Gurupi: A $21 million resource expansion and development study budget has been set for 2026, with a preliminary economic assessment targeted in H2 2026.
Del Toro: Sierra Madre announced the acquisition of Del Toro with plans to restart operations in mid-2027.
15-Mile: A Prefeasibility Study outlines an average 103 Koz gold production profile over 11 years.
Tower Mountain: An Inaugural Indicated Mineral Resource estimate of 514 Koz with 34.5Mt averaging 0.46 g/t gold and Inferred Mineral Resource Estimate of 3.05 Moz with 221.1Mt averaging 0.45 g/t gold has been released, with a Scoping Study expected in 2027.
Metalla holds a 0.315% net smelter returns (NSR) royalty on Hudbay Mineral Inc.’s Copper World project in Arizona. Hudbay announced the closing of a strategic investment from Mitsubishi Corporation for a 30% joint venture ownership interest in Copper World LLC for $420 million paid at closing. Hudbay intends to use proceeds to fund the remaining Definitive Feasibility Study (DFS) costs and initial project development costs for Copper World. Mitsubishi will contribute an additional $180 million within 18 months and contribute its pro-rata share of future equity capital contributions to build the Copper World mine. Feasibility activities for Copper World are advancing, with the DFS expected to be completed in mid-2026, ahead of a Copper World sanction decision expected in 2026.
Metalla holds a 5.0% NSR royalty covering the South Domes area of Equinox Gold Corp.’s Castle Mountain Mine in California.
Metalla holds a 0.42% NSR royalty on First Quantum Minerals Ltd.’s Taca Taca copper-gold-molybdenum project in Salta, Argentina. First Quantum announced that an updated technical report for Taca Taca is expected to be released in the first quarter of 2026. First Quantum also expects the Province of Salta to approve the ESIA and water permit applications in the first half of 2026. In addition, First Quantum expects to file an Argentina RIGI application in the first half of 2026.
Metalla holds a 1.0% gross value royalty on the Coeur Mining, Inc.’s Wharf Mine in the Black Hills, South Dakota. On November 19, 2025, a fire started at the Wharf Mine crushing facility during regularly scheduled maintenance; all workers are accounted for and the fire was fully extinguished.
Metalla holds a 1.0% NSR royalty on the first 500 koz of production, 2.0% NSR royalty on the next 1 Moz, and 1.0% NSR royalty thereafter on G Mining Venture Corp.’s Gurupi project in the State of Pará, Brazil. G Mining announced an exploration budget of approximately $21 million for Gurupi in 2026, focused on expanding mineral resources ahead of a Preliminary Economic Assessment expected to be released in the second half of 2026.
Metalla holds a 2.0% NSR royalty interest on Sierra Madre Gold & Silver Ltd.’s Del Toro Silver Mine in Zacatecas, Mexico. Sierra Madre announced that it had entered into an agreement to acquire Del Toro from First Majestic Silver Corp. Del Toro is a fully permitted underground silver-gold-lead mine with a 3,000 tonne-per-day flotation processing circuit, which operated from 2013 to 2019.
Sierra Madre also announced on December 17, 2025, that Del Toro hosts a historical Measured and Indicated Mineral Resource estimate of 7.57 Moz silver-equivalent consisting of 592,000 tonnes at 398 g/t and an Inferred Mineral Resource estimate of 11.8 Moz silver-equivalent consisting of 1.19 million tonnes at 293 g/t.
Metalla holds a 1.0% NSR royalty on the St Barbara Limited’s 15-Mile deposit in Nova Scotia, Canada. St Barbara announced the results of the 15-Mile Processing Hub Prefeasibility Study, which outlines strong economics and average production of 103 Koz of gold per year over an 11-year mine life. The study proposes a central mill and tailings facility at 15-Mile, with ore sourced exclusively from 15-Mile until Year 3 of operations, followed by the addition of ore from Cochrane Hill in Year 3 and Beaver Dam in Year 4. St. Barbara noted that environmental baseline monitoring across the 15-Mile Processing Hub continues to advance, supporting permitting and development. In parallel, stakeholder engagement has progressed, with work underway on the Environmental and Impact Assessment through FY2027 alongside the Feasibility Study, and commissioning and production potentially as early as FY2030.
Metalla holds a 2.0% NSR royalty interest on Thunder Gold Corporation’s Tower Mountain project in Ontario, Canada. Thunder Gold announced the results of the inaugural Mineral Resource estimate at the Tower Mountain project near Thunder Bay, Ontario, including an Indicated Mineral Resource of 514 koz with 34.5Mt averaging at 0.46 g/t gold and an Inferred Mineral Resource of 3.05 Moz with 221.1Mt averaging at 0.45 g/t gold. Thunder Gold aims to deliver an updated Mineral Resource Estimate and an initial Scoping Study (Preliminary Economic Assessment) in 2027.
Metalla has awarded an aggregate of 247,375 restricted share units (the “RSUs”) and granted an aggregate of 475,700 stock options (the “Options”) to certain directors, officers, consultants, and employees of the Company. The RSUs and Options vest in equal installments over twelve and twenty-four months. Each vested RSU will entitle the holder to receive one common share of Metalla, and similarly each vested Option will entitle the holder to acquire one common share of Metalla for a period of five years at an exercise price to be based on the closing price of the common shares of Metalla on the TSX Venture Exchange (“TSXV”) on February 12, 2026.
The Company has also, subject to stock exchange acceptance, retained Sideways Frequency LLC (“SFLLC”) to provide certain marketing services to the Company in compliance with the policies and guidelines of the TSXV, NYSE American and applicable legislation. The services will include the creation and distribution of marketing materials and overseeing progress and results from SFLLC’s services. Under the agreement, the Company will pay SFLLC $150,000 per month for the initial three-month term and the Company retains the right to renew the agreement at any point during the three-month term (on a month-to-month basis) or to terminate the agreement at any time with no penalty. Consideration payable to SFLLC is solely cash and does not include any securities of the Company.
Metalla provides shareholders with leveraged gold, silver, and copper exposure by acquiring royalties and streams. The company’s goal is to increase share value by accumulating a diversified portfolio of royalties and streams with attractive returns.
Source: Metalla Royalty & Streaming Ltd.
