Royalty Added On Equinox Gold's Castle Mountain Gold Mine

VANCOUVER, BC - Metalla Royalty & Streaming Ltd. has entered into a Royalty Purchase Agreement (RPA) to acquire an existing 5% net smelter return royalty (NSR) from an arm's length seller on the South Domes portion of the Castle Mountain Gold mine owned by Equinox Gold Corp.

Brett Heath, President & CEO, said, "The Castle Mountain royalty provides Metalla shareholders with exceptional long-term exposure to a significant property operated by one of the industry's premier operators. The 5% NSR covers the South Domes portion of the producing Castle Mountain Gold Mine, soon to be one of the largest gold mines when the phase 2 expansion is implemented."

Castle Mountain is an operating heap leach and mill gold mine located in California. Castle Mountain is being developed by Equinox in two stages, Phase 1 and Phase 2. Phase 1 is currently operating at the JSLA, Jumbo and Oro Belle pits with an expected production of 30-40Koz of gold annually. Phase 2, which is expected to begin in 2026 and includes South Domes, is projected to expand production to more than 200koz of gold annually. Castle Mountain is projected with an annual output of 218Koz and total all-in sustaining cost of $858/oz over the 14-year Phase 2 mine plan. Castle Mountain currently boasts 4.2Moz of gold reserves, of which South Domes covers 1.1Moz gold reserves. Equinox has outlined the potential to expand the 2021 Feasibility Mineral Reserve pits to ultimately connect the JSLA and South Domes pits.