GlobeNewswire Inc | May 21, 2021 07:30AM EDT

May 21, 2021

VANCOUVER, British Columbia, May 21, 2021 (GLOBE NEWSWIRE) -- Metallica Metals Corp.(CSEMM) (OTC:MTALF)(FWB:SY7P) (the Company or Metallica Metals) announces that in accordance with the Companys stock option plan, it has granted a total of 2,400,000 stock options to various directors, officers and consultants, 275,000 of which were issued to directors and officers of the Company. Each option is exercisable to purchase one common share of the Company at $0.31 per share for a period of five years from the date of issuance.

On behalf of the Board of Directors

METALLICA METALSCORP.Paul Teniere, M.Sc., P.Geo.CEO and Directorinfo@metallica-metals.com

Head Office:Suite 810 789 West Pender StreetVancouver, BC V6C 1H2

Ph: (604) 687-2038

Toronto Office:Suite 401 217 Queen Street WestToronto, ON M5V 0R2

For more information, please visit the Companys website at https://metallica-metals.com or its SEDAR profile at www.sedar.com.

Forward-looking Information Statement

This news release contains certain forward-looking information within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as plan, expect, project, intend, believe, anticipate, estimate and other similar words, or statements that certain events or conditions may or will occur. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the Companys proposed acquisition, exploration program and the expectations for the mining industry. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in water disposal facility operations; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.