(All dollar amounts are in thousands of United States dollars unless otherwise indicated, except for shares, per ounce, and per share amounts) TSXV: MTANYSE American: MTA VANCOUVER, BC, Aug. 14, 2024 /PRNewswire/ - Metalla Royalty & Streaming Ltd. ("Metalla" or the "Company") (TSXV:MTA) (NYSE:MTA) announces its operating and financial results for the three and six months ended June 30, 2024. For complete details of the condensed interim consolidated financial statements and accompanying management's discussion and analysis for the three and six months ended June 30, 2024, please see the Company's filings on SEDAR+ (www.sedarplus.ca) or EDGAR (www.sec.gov). Shareholders are encouraged to visit the Company's website at www.metallaroyalty.com. Brett Heath, President, and CEO of Metalla, commented, " We're making significant progress at Metalla. We recently strengthened our leadership team with the appointment of Jason Cho as President. Additionally, Tocantinzinho and La Guitarra achieved first production, and Côté reached commercial production. We believe these milestones are catalysts for Metalla's growth trajectory starting in the second half of this year. Furthermore, we introduced our inaugural asset handbook, showcasing details on our over 100 royalty and streaming assets." COMPANY HIGHLIGHTS Below are some of the key Company highlights for the six months ended June 30, 2024, and subsequent period. On July 15, 2024, Metalla published its inaugural Asset Handbook outlining the Company's gold, silver, and copper royalties and streams. The Asset Handbook is available on the Company's website; On July 24, 2024, the Company announced the appointment of Jason Cho as President of the Company. Concurrent with his appointment, Mr. Cho made a C$1.0 million equity investment into the Company, for the acquisition of 250,000 common shares of the Company ("Common Shares") at C$4.00 per Common Share by way of private placement (the "Placement"). The Placement closed on August 9, 2024; On July 10, 2024, the Company reported that G Mining Ventures Corp ("G Mining") announced the first gold pour at the Tocantinzinho gold project in the State of Pará, Brazil, where Metalla holds a 0.75% GVR royalty; For the three months ended June 30, 2024, the Company received or accrued payments on 401 attributable Gold Equivalent Ounces ("GEOs") at an average realized price of $2,332 and an average cash cost of $17 per attributable GEO (see Non-IFRS Financial Measures). For the six months ended June 30, 2024, the Company received or accrued payments on 1,025 attributable GEOs at an average realized price of $2,173 and an average cash cost of $12 per attributable GEO (see Non-IFRS Financial Measures); For the three months ended June 30, 2024, the Company recognized revenue from royalty and stream interests, including fixed royalty payments, of $0.9 million, net loss of $1.5 million, and Adjusted EBITDA of $0.2 million (see Non-IFRS Financial Measures). For the six months ended June 30, 2024, the Company recognized revenue from royalty and stream interests, including fixed royalty payments, of $2.1 million, net loss of $3.2 million, and Adjusted EBITDA of $0.2 million (see Non-IFRS Financial Measures); For the three months ended June 30, 2024, the Company generated operating cash margin of $2,315 per attributable GEO, and for the six months ended June 30, 2024, the Company generated operating cash margin of $2,161 per attributable GEO from the Wharf, El Realito, Aranzazu, La Encantada, the New Luika Gold Mine ("NLGM") stream held by Silverback Ltd. ("Silverback"), and other royalty interests (see Non-IFRS Financial Measures); On February 20, 2024, Beedie Investments Ltd. ("Beedie") elected to convert C$1.5 million of the accrued and unpaid interest under the existing convertible loan facility between Metalla and Beedie (the "Convertible Loan Facility") into Common Shares at a conversion price of C$3.49 per Common Share, being the closing price of the shares of Metalla on the TSX-V on February 20, 2024, for a total of 429,800 Common Shares which were issued on March 19, 2024; On June 28, 2024, the Company filed a new final short form base shelf prospectus and a corresponding registration statement on Form F-10 that replaced the base shelf prospectus and Form F-10 registration statement previously filed by the Company in 2022; and Effective August 8, 2024, the Company adopted a minimum share ownership policy applicable to directors and officers of the Company in order to further align the financial interest of Metalla's leadership with the Company's shareholders. The policy requires, subject to various provisions, that: (i) the CEO own Common Shares with a fair market value equal to five times his annual base salary; (ii) the CFO and other officers own Common Shares with a fair market value equal to two times their annual base salary; and (iii) non-executive directors own Common Shares with a fair market value equal to two times their annual cash retainer. Directors and officers will have three years to ensure they are in compliance with the newly adopted policy. ASSET UPDATES Below are updates for the three months ended June 30, 2024, and subsequent period to certain of the Company's assets, based on information publicly filed by the applicable project owner: La Encantada On July 18, 2024, First Majestic Silver Corp. ("First Majestic") announced production of 46 oz of gold from La Encantada in the second quarter of 2024. Since successfully identifying a water source in the first quarter, First Majestic announced ore processing throughput has increased for the quarter and expects plant ore throughput rates to return to the historical levels of 3,000 tpd in the third quarter of 2024. First Majestic also stated that the 2024 exploration program had commenced during the second quarter after securing the new water source with one surface rig completing 607 meters of drilling on the property. Metalla accrued 16 GEOs from La Encantada for the second quarter of 2024. Metalla holds a 100% GVR royalty on gold produced at the La Encantada mine limited to 1.0 Koz annually. El Realito On July 31, 2024, Agnico Eagle Mines Ltd. ("Agnico") reported that gold production from La India totaled 6.1 Koz for the second quarter of 2024. Agnico stated that production is expected to come from residual leaching of the heap leach pads and is expected to continue through year-end 2024. Metalla accrued 60 GEOs from El Realito for the second quarter of 2024. Metalla holds a 2.0% NSR royalty on the El Realito deposit which is subject to a 1.0% buyback right for $4.0 million. Wharf On August 7, 2024, Coeur Mining Inc. ("Coeur") reported 2024 second quarter production of 22.0 Koz gold and continues to reiterate the full year guidance for 2024 at Wharf of 86 – 96 Koz gold. Coeur noted that recently completed studies at two areas within existing and historical mining zones at Wharf have identified opportunities to meaningfully extend mine life. Supplemental funding has been approved for a two-phase drill program in 2024 and 2025 to test the two targets, Juno and North Foley. Metalla accrued 101 GEOs from Wharf for the second quarter of 2024. Metalla holds a 1.0% GVR royalty on the Wharf mine. Aranzazu On July 9, 2024, Aura Minerals Inc. ("Aura") announced the second quarter 2024 production at Aranzazu totaled 24,692 GEOs (as defined by Aranzazu), while continuing to reiterate 2024 guidance for Aranzazu, which it had disclosed on February 20, 2024, of 94-108 Koz GEOs (as defined by Aranzazu). Metalla accrued 197 GEOs from Aranzazu for the second quarter of 2024. Metalla holds a 1.0% NSR royalty on the Aranzazu mine. Endeavor On August 5, 2024, Polymetals Resources Ltd. ("Polymetals") announced by news release an improved 10-year Endeavor mine plan that increased proved and probable mineral reserves (as such terms are used and defined by the JORC code) by 45% from an estimate announced by them in October 2023, and that first production is expected in H1-2025. Polymetals also disclosed it has commenced refurbishment works related to underground infrastructure and plans to ramp up refurbishment activities upon finalization of project financing. Metalla holds a 4.0% NSR royalty on lead, zinc and silver produced from Endeavor. Tocantinzinho On July 9, 2024, G Mining announced the first gold pour at Tocantinzinho. G Mining stated that it expects to achieve commercial production and ramp up to nameplate capacity of 4.7 Mtpa in the second half of 2024. In addition, G Mining stated that at the end of June, approximately 2.6 Mt of ore, containing 78 Koz gold was stockpiled, ahead of the processing plant ramp up. Metalla holds a 0.75% GVR royalty on Tocantinzinho. La Guitarra On July 30, 2024, Sierra Madre Gold & Silver Ltd. ("Sierra Madre") announced the first shipments of silver and gold concentrates from La Guitarra. Sierra Madre shipped 90.68 dry metric tonnes of concentrate at 3000 g/t silver and 30 g/t gold with another ~90 dry tonnes of concentrate to be shipped soon after. Sierra Madre plans to continue to increase production with a goal of reaching 500 tpd of throughput for approximately 350 dry tonnes of concentrate per month by year-end. Metalla holds a 2.0% NSR Royalty on La Guitarra, subject to a 1.0% buyback for $2.0 million.  Côté-Gosselin On August 8, 2024, IAMGOLD Corporation ("IAMGOLD") reported that approximately 11,600 meters and 22,900 meters of drilling were completed in the three and six months ended June 30, 2024, respectively, testing different areas of the Gosselin deposit extensions and to test the gap between the Gosselin West Breccia body and the Côté Breccia at depth. IAMGOLD also stated that the 2024 Côté gold production is expected to be at the lower end of guidance of 220 Koz – 290 Koz. On August 2, 2024, IAMGOLD announced commercial production at the Côté Gold Mine after achieving a minimum of 30 consecutive days of operating during which the mill operated at an average of 60% of nameplate throughput of 36,000 tpd. Metalla holds a 1.35% NSR royalty that covers less than 10% of the Côté Reserves and Resources estimate and covers all of the Gosselin Resource estimate. Taca Taca On July 23, 2024, First Quantum Minerals Ltd. ("First Quantum") stated in their Q2 2024 MD&A that the Environmental and Social Impact Assessment ("ESIA") for the Taca Taca project continues to be reviewed by the Salta Province Secretariat of Mining and First Quantum remains optimistic it will be approved in 2024. Additionally, First Quantum continued progressing the technical aspects of the 345-kilovolt power line required for the ESIA. During the quarter, First Quantum continued progressing local community informative meetings and Phase IV of the bore field industrial water supply program aimed at examining potential deeper sources of water for the mine. First Quantum also noted the Argentinian President, Javier Milei, has pushed a new bill to congress offering special incentives for large investments in certain sectors including mining. The bill was enacted into law by the executive branch of the Argentinian government on July 8, 2024. Metalla holds a 0.42% NSR royalty on Taca Taca subject to a buyback based on the amount of Proven Reserves in a feasibility study multiplied by the prevailing market prices of all applicable commodities. Amalgamated Kirkland and North AK On July 31, 2024, Agnico announced production for the Near Surface deposit continued in the second quarter of 2024, with volume of ore mined and milled exceeding planned targets. On April 25, 2024, Agnico announced the development for the AK deposit is on track for initial production in the fourth quarter of 2024. Infill drilling at the AK deposit intersected a highlight intercept of 11.8 g/t gold over 5.0 meters in the eastern shallow portion of the AK deposit. On February 15, 2024, Agnico announced that production from the Near Surface deposits is planned to be processed at the Macassa mill in the first half of 2024 and at the La Ronde Zone 5 mill in the second half of 2024. Production from the AK deposit, which is expected to begin in the second half of 2024 is planned to be processed at the La Ronde facility. Production from the two deposits is forecast by Agnico to be ~19 Koz in 2024 and between 35 – 50 Koz gold from 2025 to 2028 and Agnico believes that the AK area remains prospective for future mineral resource growth. Additionally, Agnico reported an updated Mineral Reserve estimates of 160 Koz of Probable Reserves at 6.69 g/t gold and updated Mineral Resource estimates of 37 Koz of Indicated Resources at 6.95 g/t gold, and 52 Koz of Inferred Resources at 5.69 g/t gold. Metalla holds a 0.45% NSR royalty on the Amalgamated Kirkland and North AK properties. Wasamac On April 25, 2024, Agnico reported that stakeholder engagement initiatives continue to advance, while assessing the optimal mining rate and processing options for Wasamac. On February 15, 2024, Agnico reported the results of the 2023 infill and conversion drilling completed at Wasamac with highlight intercepts of 4.9 g/t gold over 13.4 meters, 2.8 g/t gold over 18.8 meters and 4.4 g/t gold over 3.9 meters in the main zone. At the Wildcat zone, significant highlights include 3.6 g/t gold over 20.6 meters and 5.6 g/t golds over 4.1 meters. Agnico plans to spend $2.8 million for 16,700 meters of drilling at Wasamac in 2024 and continues to assess various scenarios to define the optimal mining rate and milling strategy for Wasamac. Metalla holds a 1.5% NSR royalty on the Wasamac project subject to a buyback of 0.5% for C$7.5 million. Castle Mountain On August 7, 2024, Equinox Gold Corp. ("Equinox") reported in their Q2 2024 MD&A that a surface exploration program of geological mapping and channel sampling at Castle Mountain is expected to commence in Q3 2024, with the primary goal to sample previously identified mineralization exposed on surface such that data can be used in future mineral resource estimation. Equinox also reported that the mine permitting amendment plan was submitted to the lead county and BLM agencies which reviewed the plan for completeness in early 2023. Equinox received the BLM determination that the plan was complete in Q1 2024 and expects to receive the notice of intent in H2 2024, upon which the formal permitting process will begin. Work on the preliminary draft Environmental Impact Statement will occur throughout 2024 and 2025 upon creation of a memorandum of understanding with the BLM, San Bernardino County and Castle Mountain. Metalla holds a 5.0% NSR royalty on the South Domes area of the Castle Mountain mine. Akasaba West On April 25, 2024, Agnico announced Akasaba West achieved commercial production on February 1, 2024. Akasaba West is expected to provide flexibility at the Goldex complex, contributing 1,750 tpd grading 0.84 g/t gold and 0.48% copper. On February 15, 2024, Agnico announced that Akasaba West is expected to contribute approximately 12 Koz of gold and 2.3 Kt of copper per year. Metalla holds a 2.0% NSR royalty on the Akasaba West project subject to a 210 Koz gold exemption. La Parrilla On June 24, 2024, Silver Storm Mining Ltd. ("Silver Storm") released highlighted intercepts from drilling at La Parrilla ...