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Thursday, 12/28/2017 10:19:21 AM

Thursday, December 28, 2017 10:19:21 AM

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Vancouver, British Columbia--(Newsfile Corp. - December 28, 2017) - Metallic Minerals Corp. ( TSXV: MMG) ( OTC Pink: MMNGF) (the "Company") is pleased to announce that it has completed a private placement for aggregate proceeds of $1.38 million through the issuance of 3.45 million common shares on a non-brokered flow-through basis at a price of $0.40 per flow-through share (the "Private Placement"), which represents an approximate 5% premium to the five day VWAP on the TSX Venture Exchange ("TSX-V"). Proceeds from the Private Placement are intended to be used toward eligible Canadian Exploration Expenses, within the meaning of the Income Tax Act (Canada), at the Company's Yukon silver projects.

Greg Johnson, CEO and Chairman, noted, "We are pleased to complete this flow-through Private Placement, which will be directed toward the ongoing exploration and development of our Keno Silver Project in the high-grade, historic Keno Silver District of Canada's Yukon Territory, as well as at our nearby McKay Hill Project."

The Private Placement is subject to final TSX-V approval and the flow-through shares are subject to a hold period of four months and one day from their date of issuance under applicable Canadian securities law.

The Company has agreed to pay finder fees of 6% on a portion of the financing and to issue 80,250 finder warrants with each finder warrant exercisable into one common share of the Company at a price of $0.45 per share for a period of 24 months from the date of closing. If at any time after the closing date, the closing price for the common shares on the TSX-V trades above $0.75 for 10 consecutive trading days, the Company may provide written notice of acceleration of the expiry date of the finder warrants.

The flow-through shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

The Company also announces the departure of Ms. Connie Norman as Corporate Secretary. The Company would like to thank Ms. Norman for her contributions and wishes her the best in her future endeavours. Mr. Tim Thiessen, Chief Financial Officer, has assumed the responsibilities of Corporate Secretary.

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