La Parrilla Silver Mine Complex

The Company's 100%-owned flagship, a past-producing polymetallic silver complex located approximately 76 km southeast of the city of Durango, Mexico, comprising 40 contiguous mining concessions covering 38,128 hectares. The complex consists of five underground mines (Rosarios, La Rosa, San Jose, Quebradillas and San Marcos) and the Quebradillas open pit surrounding a 2,000 tpd processing plant configured as parallel 1,000 tpd flotation and 1,000 tpd cyanidation circuits, treating polymetallic oxide and sulphide ore (silver principal, with lead, zinc and minor gold) to produce doré, a silver-rich lead concentrate and a zinc concentrate. Acquired from First Majestic Silver on August 14, 2023, the complex has been on care and maintenance since September 2019 after producing 34.3 million silver-equivalent ounces between 2005 and 2019. On October 21, 2025 rehabilitation began (Dynamic Engineering on plant rehab; SRK reviewing the restart plan), the sulphide flotation circuit is being expanded from 1,000 to 1,250 tpd via eight new flotation cells, underground rehabilitation is preparing Quebradillas, San Marcos and Rosarios, and a 6,000 m underground drill program began January 14, 2026, targeting a potential Q2 2026 restart. The restart decision is not supported by NI 43-101 reserves, a PEA, or a pre-feasibility/feasibility study; no mineral reserves have been established. Metalla Royalty & Streaming retains a 2% NSR.