Vancouver, British Columbia--(Newsfile Corp. - November 26, 2025) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") today announced final assay results for 15 drill holes from multiple gold zones including, TESS, Skarn Ridge, Bueno, Fishbowl and Lorrie. Drill results have now been released for all 39 holes drilled property-wide in 2025. The newly discovered TESS Zone has intersected wide intervals of high-grade Au-Cu-Ag in both holes drilled to date. The Skarn Ridge Zone is comprised of multiple stacked gold zones extending for at least 1.4km along trend. TESS and Skarn Ridge are approximately 4km apart and the gap remains largely untested.
Rob Carpenter, Ph.D., PGeo., President, CEO and Co-Chairman of Prospector, stated: "Our 2025 drilling at ML successfully identified several high-grade gold corridors that will be followed up in our fully funded 2026 program. We anticipate an aggressive 25,000m drill plan aimed at extending our key zones along trend and to depth as well as test new targets generated through prospecting and structural mapping."
Key Point Summary
- Drill hole ML25-32 is the second hole drilled at the newly discovered TESS Zone and key results include 7.29 g/t Au, 0.91% Cu and 24.98 g/t Ag over 14m beginning 66m downhole. Both TESS holes drilled to date have intersected thick intervals of high-grade gold plus copper and silver. Analysis of 3D cross-sections suggest TESS is a near-vertical zone open at depth and along trend.
- Mineralization in hole ML25-32 is heavily oxidized due to being located near surface, and primary sulfide minerals are less apparent than deeper holes. Higher gold grades within this interval appear to occur where sulfides are best preserved.
- The TESS - North Vein structural corridor is composed of multiple, steeply-dipping and sub-parallel trending structural zones that are coincident with surface geochemical anomalies which can be traced for at least 500m.
- Skarn Ridge Trend continues to expand with hole ML25-024 yielding 27m of 2.04 g/t Au, 0.42% Cu, & 8.7 g/t Ag from 24m depth, including 12m of 3.82 g/t Au, 0.36% Cu, & 7.89 g/t Ag from 29m and a second interval of 19m of 4.33 g/t Au 0.5% Cu, & 9.88 g/t Ag from 57m. Also drill holes ML25-027 intercepted 3.54m of 10.42 g/t Au from 145m hole depth.
- Final assays have now been released from all 2025 drill holes. A total of 39 holes were completed for a total of 6,648.91m at a total cost per meter of approximately $520. Drill planning for 2026 is underway and details for a proposed 25,000m program will be released by Q1 2026. Prospector currently has over $40 million in working capital and is fully funded through 2026.
Figure 1: ML Property Target Areas
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TESS - North Vein
A total of 315.01m over 2 drill holes were completed on the North Vein - TESS targets. To date, results have been received for all holes; including previously announced results of 44m of 13.79 g/t Au & 1.84% Cu in hole ML25-31 (1). The holes were designed to test interpreted northeast structural controls on mineralization on the North Vein target and intersected a new zone of mineralization in addition to North Vein alteration/mineralization at depth.
ML25-032
ML25-032 was drilled as an over-cut to ML25-031 at a -50°. The hole returned 14m of 7.29 g/t Au, 0.91% Cu, & 24.98 g/t Ag from 57.05m depth; including 5.05m of 11.19 g/t Au, 1.98% Cu, & 56.90 g/t Ag from 66m depth. The mineralization is hosted within strongly fractured and oxidized clastic sedimentary units with localised quartz veining, clay alteration, and silica flooding with fracture controlled to disseminated, locally massive, arsenopyrite-pyrite-chalcopyrite-pyrrhotite mineralization and/or geothite-limonite in more oxidized sections. The mineralization correlates with the upper high-sulfide portion of the TESS Zone intersected in ML25-031, and occurs within a broader zone of strong oxidation and fracturing with anomalous pathfinder elements (As +/- Bi +/- Cu) but low gold grades. The hole also intersected a second zone of strongly oxidized fracturing from approximately 100 - 118m depth interpreted as the projection of the North Vein zone, but only returned anomalous pathfinder elements (As - Cu).
Table 1: Summary of 2025 TESS - North Vein Drill Intercepts
| Zone | Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | Ag (g/t) |
| TESS | ML25-031 | 62.00 | 106.00 | 44.00 | 13.79 | 1.84 | 38.08 |
| Incl. | 62.00 | 76.00 | 14.00 | 4.60 | 3.76 | 74.23 | |
| And | 81.35 | 106.00 | 24.65 | 21.93 | 1.14 | 25.58 | |
| Incl. | 92.00 | 106.00 | 13.00 | 37.88 | 0.21 | 5.11 | |
| Incl. | 104.00 | 105.00 | 1.00 | 288.00 | - | - | |
| North Vein | And | 138.00 | 145.36 | 7.36 | 5.69 | 1.16 | 22.21 |
| Incl. | 144.00 | 145.36 | 1.36 | 21.30 | 2.48 | 44.50 | |
| TESS | ML25-032 | 57.05 | 71.05 | 14.00 | 7.29 | 0.91 | 24.98 |
| Incl. | 66.00 | 71.05 | 5.05 | 11.19 | 1.98 | 56.90 |
Figure 2: Cross-section of ML25-031 & -032 on TESS - North Vein looking East
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Figure 3: ML25-032 from 54.36 - 71.28m with sample intervals and gold grades. Red arrows mark the beginning of sample intervals.
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TESS - North Vein Discussion
The TESS Zone occurs north of the historic North Vein occurrence and would not have been tested by historic drilling. At surface the TESS Zone is obscured by a thin layer of talus and is a blind discovery. Both zones are pervasively oxidized at surface and appear to have a strong association with jarosite alteration. In ML25-031, the TESS Zone consisted of an upper, sulfide rich, zone with disseminated to massive arsenopyrite-chalcopyrite-pyrite-pyrrhotite within calc-silicate to vuggy silicified and clay altered rocks with strongly Au - Cu values (14m of 4.60 g/t Au, 3.76 g/t Cu, & 74.23 g/t Ag from 62m depth(1)) and a lower, pervasively calc-silicate altered zone with black sulfidic fractures, disseminated arsenopyrite - pyrrhotite - chalcopyrite, coarse Bi-Te minerals, local visible gold, and significantly elevated Au (24.65m of 21.93 g/t Au, 1.14% Cu, and 25.58 g/t Ag from 81.35m depth(1)). Hole ML25-032 was an over-cut of ML25-031 and returned 14m of 7.29 g/t Au, 0.91% Cu, & 24.98 g/t Ag from 57.05m depth and correlates as the projection of the upper sulfide rich zone interested in ML25-031, confirming the mineralized zone is steeply dipping. The mineralization occurs within a broader zone of strong oxidation, fracturing, and localised brecciation with anomalous pathfinder elements (As +/- Bi +/- Cu) but low gold grades and includes the projection of the lower gold rich zone intersected in ML25-031. The current interpretation is that mineralization on the TESS - North Vein is structurally controlled along ENE trending, steeply dipping, zones of fracturing and brecciation. It is also anticipated that the zones of mineralization will have a plunge controlled by the intersection of the structural zones with host lithologies and/or other structures. Evaluation of the alteration, mineralization, and structural controls of the TESS - North Vein is ongoing and includes additional geochemical analysis and petrographic studies.
Figure 4: TESS - North Vein section with Jarosite looking NE
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Skarn Ridge - Bueno Trend
The assays received to date and visual observations from pending holes confirm that gold mineralization from Skarn Ridge to Bueno is hosted within a series of north-northeast trending, steeply dipping, structural zones and associated splays. Individual mineralized trends range from 1-2m wide up to 44m wide and can be traced in multiple drill holes (i.e. ML-10-13 and 22-25) The corridor has now been traced over 1.5km along strike and have over 600m of vertical continuity. The 2025 drilling at Skarn Ridge - Bueno successfully confirmed key structural interpretations for the ML project resulting in a new exploration model that can be applied project-wide.
Within the structural corridors, gold mineralization is noted in every rock type on the Skarn Ridge-Bueno Trend and is best developed within strongly fractured/brecciated calc-silicate altered and/or iron rich units, and along lithologic contacts. The gold mineralization is, locally, coincident with significant copper mineralization, however, the gold and copper mineralizing events appear to be independent of each other. Gold is focused within structural corridors and is strongly associated with bismuth and tellurium mineralization, whereas copper is more broadly distributed and only occurs within strongly calc-silicate altered units.
Skarn Ridge
A total of 2,976.84m over 18 drill holes were completed on the Skarn Ridge target. To date, results have been received for all holes; including previously announced results on ML25-10 & -011(2) and ML25-012 - 023(3). The holes were designed to test previously unrecognized north-northeast trending structural controls associated with historically reported gold-copper mineralization on the target (Figure 4).
ML25-024 & -025 were drilled from the same location 53m south of ML25-022 & -023. Both holes were drilled at a 300° azimuth and -45° and -70° dips, respectively. Both holes intersected a broad, up to 70m, zone of calc-silicate altered siltstone, marl, and gabbro with disseminated to fracture controlled pyrrhotite-arsenopyrite-chalcopyrite mineralization and anomalous gold and copper values. The most significant mineralization is associated with zones of increased fracturing, veining, and brecciation and include 27m of 2.04 g/t Au & 0.42% Cu from 24m depth and 19m of 4.33 g/t Au & 0.50% Cu from 57m depth in ML25-024. ML25-025 returned broad zones of anomalous Au-Cu mineralization, but only narrow zones of significant grades including 3m of 1.18 g/t Au & 0.71% Cu from 43m depth and 2m of 3.25 g/t Au from 68m depth.
ML25-026 & -027 were drilled from the same location 40m north east of ML25-019 & -020. Both holes were drilled at a 300° azimuth and -45° and -60° dips, respectively, and intersected three subvertical zones of gold and copper mineralization. Gold values were consistently anomalous across the zones with the best values returning from ML25-027 and include 3.54m of 10.42 g/t Au from 145m depth. Additionally, both holes returned significant copper intercepts and include 25.27m of 0.77% Cu from 167m depth; incl. 9m of 1.28% Cu from 179m depth from ML25- 019 and 26m of 0.35% Cu from 220m depth; incl. 5m of 0.73% Cu from 177m depth in ML25-026 and 10.65m of 054% Cu from 200.89m depth in ML25-027. The mineralized zones intersected correlate with intervals returned in hole ML25-019 & -020, with the lower zone(s) on projection of Au-Cu intercepted 140m to the north in ML25-024 & -025.
ML25-028 & -029 were drilled from the same location, 38m south of ML25-014 & -015. Both holes were drilled at a 300° azimuth and -45° and -60° dips, respectively. Both holes returned up to 20m zones of anomalous Au mineralization with the most significant value of 2.35 g/t Au over 1m from 78m depth in ML25-028. While, significant mineralization wasn't returned in the holes, the anomalous zones are on trend of mineralization intersected in ML25-014, confirming continuity of the structural zones to the south.
ML25-030 was the most eastern hole drilled on Skarn Ridge, approximately 300m southeast of ML25-010/ -011, and was designed to assess the area for additional mineralized structural zones. A 15m wide zone of anomalous Au (up to 1.18 g/t Au over 1m) was intercepted from 49 - 64m and an 8m zone of anomalous Cu averaging 0.22% Cu was intercepted from 96 - 104m depth.
ML25-035 was drilled on section, 50m northwest, of ML25-030 and was designed to assess the area for additional mineralized structural zones. Isolated zones of anomalous Au and Cu were intercepted (up to 0.931 g/t Au and up to 0.44% Cu), but no significant zones of mineralization were returned.
Table 2: Summary of 2025 Skarn Ridge Drill Intercepts
| Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | Ag (g/t) |
| ML25-010 | 44.00 | 89.65 | 45.65 | 2.11 | 0.48 | 8.56 |
| Incl | 51.00 | 61.00 | 10.00 | 4.37 | 0.26 | 6.14 |
| Incl | 71.00 | 88.00 | 17.00 | 2.64 | 0.88 | 15.00 |
| ML25-011 | 31.00 | 54.00 | 23.00 | 0.70 | 0.52 | 9.48 |
| Incl. | 40.00 | 44.00 | 4.00 | 1.85 | 0.88 | 17.75 |
| And | 91.00 | 102.00 | 11.00 | 1.06 | 0.68 | 11.82 |
| And | 84.00 | 97.90 | 13.90 | 0.94 | 15.74 | |
| ML25-012 | 16.50 | 29.00 | 12.50 | 0.735 | 0.26 | 5.18 |
| Incl. | 22.00 | 27.00 | 5.00 | 1.06 | 0.23 | 4.78 |
| And | 83.00 | 109.00 | 26.00 | 0.57 | 0.73 | 12.28 |
| Incl. | 85.00 | 90.00 | 5.00 | 2.13 | 0.99 | 36.32 |
| Within | 83.00 | 124.15 | 41.15 | - | 0.72 | 12.25 |
| Incl | 120.90 | 124.15 | 3.25 | - | 2.19 | 36.32 |
| ML25-013 | 17.00 | 21.00 | 4.00 | 1.11 | 0.14 | 3.30 |
| And | 39.98 | 52.00 | 12.02 | 1.84 | 0.42 | 8.80 |
| Incl. | 50.02 | 52.00 | 1.98 | 6.57 | 1.28 | 28.98 |
| And | 124.00 | 127.00 | 3.00 | 1.49 | 1.04 | 17.59 |
| Within | 108.00 | 128.00 | 20.00 | - | 0.61 | 10.71 |
| Incl. | 117.00 | 125.00 | 8.00 | - | 1.06 | 17.96 |
| ML25-014 | 137.00 | 162.00 | 25.00 | 2.97 | - | - |
| Incl. | 137.00 | 140.00 | 3.00 | 19.56 | - | - |
| Incl. | 138.50 | 140.00 | 1.50 | 37.40 | - | - |
| ML25-015 | 93.00 | 94.00 | 1.00 | 1.25 | 0.22 | 2.94 |
| ML25-019 | 125.50 | 126.40 | 0.90 | 0.132 | 1.27 | 21.30 |
| And | 158.50 | 160.55 | 2.05 | 0.511 | 0.69 | 13.79 |
| And | 166.00 | 180.45 | 14.45 | - | 0.54 | 10.57 |
| Incl. | 179.00 | 180.45 | 1.45 | - | 1.28 | 26.42 |
| ML25-020 | 128.10 | 130.00 | 1.90 | 9.91 | - | - |
| And | 147.00 | 152.00 | 5.00 | 1.88 | - | - |
| And | 240.00 | 245.00 | 5.00 | 0.93 | 0.73 | 12.29 |
| ML25-022 | 9.00 | 13.00 | 4.00 | 1.14 | 0.29 | - |
| And | 29.10 | 31.00 | 1.90 | 61.45 | 0.34 | - |
| Incl. | 30.00 | 31.00 | 1.00 | 109 | 0.43 | 17.60 |
| And | 38.95 | 44.00 | 5.05 | 1.98 | 0.12 | - |
| And | 51.00 | 61.00 | 10.00 | 4.64 | 0.41 | - |
| Incl. | 53.00 | 59.00 | 6.00 | 6.84 | 0.53 | - |
| ML25-023 | 26.00 | 35.00 | 9.00 | 1.43 | 0.17 | 3.96 |
| And | 63.75 | 64.25 | 0.50 | 141 | - | 27.40 |
| And | 83.00 | 90.00 | 7.00 | 2.01 | 0.65 | 14.30 |
| ML25-024 | 24.00 | 51.00 | 27.00 | 2.04 | 0.42 | 8.70 |
| Incl. | 29.00 | 41.00 | 12.00 | 3.82 | 0.36 | 7.89 |
| And | 57.00 | 76.00 | 19.00 | 4.33 | 0.50 | 9.88 |
| Incl. | 63.00 | 72.00 | 9.00 | 6.00 | 0.57 | 11.19 |
| ML25-025 | 43.00 | 46.00 | 3.00 | 1.18 | 0.71 | 13.01 |
| And | 68.00 | 70.00 | 2.00 | 3.25 | - | - |
| ML25-026 | 2.90 | 5.43 | 2.53 | 1.34 | - | - |
| And | 188.00 | 192.27 | 4.27 | 1.11 | 0.35 | 11.37 |
| Within | 167.00 | 192.27 | 25.27 | - | 0.77 | 15.92 |
| Incl. | 177.00 | 186.00 | 9.00 | - | 1.28 | 25.46 |
| ML25-027 | 145.00 | 148.54 | 3.54 | 10.42 | - | - |
| And | 178.00 | 182.00 | 4.00 | 0.56 | 0.67 | 13.22 |
| And | 200.89 | 211.54 | 10.65 | 0.61 | 0.54 | 10.50 |
| ML25-028 | 69.00 | 79.00 | 10.00 | 0.58 | - | - |
| ML25-029 | 68.00 | 72.00 | 4.00 | 0.46 | - | - |
| ML25-030 | 59.00 | 60.00 | 1.00 | 1.18 | 0.27 | 2.38 |
| ML25-035 | 170.00 | 171.00 | 1.00 | 0.384 | 0.44 | 6.06 |
Figure 5: Plan map of 2025 drilling on Skarn Ridge
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Figure 6: Cross-sections of ML25-012/-013 (top), ML25-010/-011 (upper middle), ML25-022/-023 (lower middle), & ML25-024/-025 (bottom)
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Bueno
A total of 2,322.27m over 13 drill holes were completed on the Bueno target. To date results have been received all holes, including previously announced holes ML25-001 to -006(1), ML25-018 & ML25-021(2). Gold and/or mineralization was intercepted within all holes received to date and correspond to a series of NNE trending structural zones cutting calc-silicate to hornfels altered shale, sandstone, siltstone, and mafic sills/dikes with disseminated to vein controlled pyrrhotite, pyrite, chalcopyrite, arsenopyrite, and, locally, Bi-Te mineralization
The most significant mineralization from the new results were returned from ML25-037 in the T4 area at the southern end of the Bueno target and is a 45m step-out to the north of previously announced mineralization intercepted in ML25-005 / -006. The hole was drilled at an azimuth of 300 and dip of -65 and returned 2m of 8.08 g/t Au from 54.66m depth and 1m of 0.143 g/t Au, 2.04% Cu, & 40.10 g/t Au from 138m depth.
Table 3: Summary of 2025 Bueno Drill Intercepts
| Hole ID | From (m) | To (m) | Interval (m) | Au g/t | Cu % | Ag (g/t) |
| ML25-001 | 12.00 | 13.00 | 1.00 | 1.66 | - | - |
| And | 25.50 | 27.00 | 1.50 | 0.95 | - | - |
| And | 115.00 | 116.00 | 1.00 | 5.53 | - | - |
| And | 179.00 | 181.00 | 2.00 | 0.81 | - | - |
| ML25-002 | 42.00 | 61.00 | 19.00 | - | 0.24 | 4.12 |
| Incl. | 58.00 | 61.00 | 3.00 | - | 0.56 | 12.15 |
| ML25-003 | 193.00 | 194.00 | 1.00 | 1.90 | - | - |
| ML25-004 | 89.00 | 90.70 | 1.70 | - | 1.47 | 20.1 |
| And | 100.00 | 101.00 | 1.00 | 2.42 | 0.17 | 3.21 |
| And | 111.00 | 115.00 | 4.00 | - | 0.22 | 3.65 |
| ML25-005 | 6.10 | 13.00 | 6.90 | 3.07 | - | - |
| Incl | 8.00 | 9.50 | 1.50 | 8.22 | - | - |
| And | 39.48 | 40.56 | 1.08 | 3.41 | - | - |
| ML25-006 | 3.00 | 5.00 | 2.00 | 1.19 | - | - |
| And | 19.91 | 21.00 | 1.09 | 0.13 | 1.24 | 24.4 |
| And | 60.30 | 61.11 | 0.81 | 26.15 | - | - |
| ML25-016 | 64.30 | 71.20 | 6.90 | - | 0.48 | 5.88 |
| And | 81.00 | 86.50 | 5.50 | - | 0.34 | 3.76 |
| ML25-018 | 24.20 | 28.95 | 4.75 | 1.18 | 0.61 | 11.18 |
| And | 32.50 | 33.50 | 1.00 | 1.51 | 1.41 | 23.00 |
| ML15-021 | 117.50 | 125.50 | 8.00 | 1.85 | 0.16 | 3.1 |
| Incl. | 121.00 | 122.00 | 1.00 | 9.66 | 0.13 | 6.04 |
| ML25-033 | 117.74 | 118.87 | 1.13 | 0.23 | 4.53 | 140.00 |
| ML25-034 | 68.50 | 70.00 | 1.50 | 1.18 | - | - |
| And | 161.70 | 162.70 | 1.00 | 0.79 | 0.15 | - |
| ML25-036 | 4.57 | 15.00 | 10.43 | - | 0.13 | - |
| And | 70.50 | 72.30 | 1.80 | - | 0.62 | 12.28 |
| And | 87.36 | 92.16 | 4.80 | - | 0.62 | 13.23 |
| ML25-037 | 54.66 | 56.75 | 2.09 | 8.08 | - | - |
| Incl. | 55.75 | 56.75 | 1.00 | 11.90 | - | - |
| And | 138.00 | 139.00 | 1.00 | 0.14 | 2.04 | 40.10 |
Figure 7: Plan Map of 2025 Bueno drilling
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Fishbowl & Lorrie Lake
Hole ML25-038 was drilled on the Fishbowl target approximately 2.5km north of Skarn Ridge. The hole was drilled at a 120° azimuth and -50° dip and was designed to test a northeast trending zone of calc-silicate altered metasediments with arsenopyrite-chalcopyrite mineralization exposed on a cirque wall. However, due to topographic constraints, the hole was collared near the base of a talus slope below the target and intersected a previously unknown, granitic intrusive unit with zones of sheeted quartz-arsenopyrite-pyrrhotite veins/fractures; feldspar porphyry and lamprophyre dikes; and isolated rafts of biotite altered sediments. No significant mineralization was returned from the hole, however, the sheeted sulfide veins correspond to anomalous Au - As - Bi - Te mineralization (up to 0.341 g/t Au) over a 26m zone, and indicates the potential for intrusion-hosted mineralization in the target area.
Hole ML25-039 was drilled on the Lorrie target approximately 2.5km south of Skarn Ridge. The hole was drilled at a 320o azimuth and -45° dip and was designed to test northeast trending, structurally controlled zones of quartz sulfide veins associated with anomalous Au-Ag-Cu-Pb-Zn mineralization at surface. The hole intercepted a mixed package on calc-silicate altered to hornfelsed sediments with zones of feldspar porphyry to granodioritic intrusive dikes. No significant mineralization was returned in the hole with isolated zones of veining/silicification returning anomalous Cu, Pb, and Zn values.
Prospecting Results
Results for an additional 29 rock grab and chip samples have been received from prospecting and geological mapping activities across the ML Property. The results ranged from trace to 11.8 g/t Au, trace to 58.4 g/t Ag, trace to 1.20% Cu, and trace to 0.62% Pb. Grab samples are selected sampled and may not be representative of underlying mineralization. Highlights of the prospecting results include:
Raptor
Four samples were collected from limited prospecting in the Raptor area, located on the southern end of the ML Property approximately 5.4km south-southwest of Skarn Ridge. Two samples were collected from an approximately 5m exposed zone of silicified to clay altered gabbro with scorodite - malachite staining and, locally, coarse grained arsenopyrite-chalcopyrite mineralization, and returned 11.8 g/t Au, 1.20% Cu, 58.4 g/t Ag, & 0.62%Pb and 8.41 g/t Au, 0.52% Cu, and 27.7 g/t Ag. This area of alteration and mineralization occurs on the margins on a previously unknown granitic intrusive stock with sheeted quartz-tourmaline-arsenopyrite veins and brecciated-sheared and clay altered intrusive with fine grained sulfide mineralization. Two samples were collected from the intrusion and returned results up to 0.125 g/t Au with anomalous As-Bi.
TESS - North Vein
Twenty-five samples were collected from the TESS - North Vein area in efforts to trace alteration and mineralization to the NE of ML25-031 / 032, and assess other areas of jarosite alteration based on WorldView -3 imagery. The sampling returned values from trace to 2.77 g/t Au and the mineralization was associated with anomalous As-Bi-Te +/- Cu and the best samples were associated with the presence of visible sulfides. Pervasively oxidized samples with goethite-limonite-hematite returned low Au values, but were consistently elevated in pathfinder elements (As +/-Bi +/- Cu).
Figure 8: ML Property Target Areas with 2025 Rock Samples.
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2025 ML Drill Program
The 2025 drill program on the ML Property has been completed and includes 39 holes over total 6648.91 m, testing seven target areas (Table 4). The program was completed on budget, finishing 1648.91m higher than the originally planned 5,000 program. To date, assays results have been received for all 39 holes. Analysis results for individual samples received to date range from trace to 379 g/t Au, from trace to 283 g/t Ag, and from trace to 11.70% Cu. The reported intervals are drilled widths and there is not currently enough data to accurately determine true thickness.
Table 4: Summary of ML 2025 Drilling by Target Area
| Target | # of Holes | Meters Drilled |
| Bueno | 14 | 2325.32 |
| Skarn Ridge | 18 | 2976.84 |
| TESS - NV | 2 | 315.01 |
| Java | 2 | 298.70 |
| Rubble | 1 | 281.94 |
| Fishbowl | 1 | 263.65 |
| Lorrie | 1 | 187.45 |
| Total | 39 | 6648.91 |
Table 5: Drill Collar Locations for 2025 ML Drill Program
| Target | Hole ID | Easting | Northing | Elevation (m) | Azimuth | Dip | Depth (m) |
| Bueno | ML25-001 | 357601 | 7128394 | 1562 | 310 | 50 | 200.25 |
| Bueno | ML25-002 | 357601 | 7128394 | 1562 | 300 | 70 | 160.02 |
| Bueno | ML25-003 | 357637 | 7128415 | 1573 | 300 | 50 | 201.17 |
| Bueno | ML25-004 | 357637 | 7128415 | 1573 | 300 | 60 | 143.24 |
| Bueno | ML25-005 | 357473 | 7128233 | 1445 | 300 | 50 | 201.17 |
| Bueno | ML25-006 | 357474 | 7128233 | 1445 | 300 | 70 | 122.53 |
| Java | ML25-007 | 361159 | 7132625 | 1898 | 325 | 50 | 199.64 |
| Java | ML25-008 | 361159 | 7132625 | 1898 | 325 | 60 | 99.06 |
| Rubble | ML25-009 | 358396 | 7129735 | 1619 | 140 | 45 | 281.94 |
| SKR | ML25-010 | 357594 | 7129073 | 1859 | 300 | 45 | 184.4 |
| SKR | ML25-011 | 357594 | 7129073 | 1859 | 300 | 55 | 143.25 |
| SKR | ML25-012 | 357618 | 7129120 | 1880 | 300 | 45 | 155.45 |
| SKR | ML25-013 | 357618 | 7129120 | 1880 | 300 | 60 | 188.98 |
| SKR | ML25-014 | 357850 | 7129123 | 1872 | 300 | 45 | 191 |
| SKR | ML25-015 | 357850 | 7129123 | 1872 | 300 | 52 | 161.54 |
| Bueno | ML25-016 | 357520 | 7128205 | 1434 | 310 | 50 | 173.74 |
| Bueno | ML25-017 | 357520 | 7128205 | 1434 | 310 | 60 | 149.35 |
| Bueno | ML25-018 | 357476 | 7128188 | 1419 | 300 | 50 | 202.69 |
| SKR | ML25-019 | 357571 | 7128822 | 1700 | 300 | 45 | 201.71 |
| SKR | ML25-020 | 357571 | 7128822 | 1700 | 300 | 60 | 248.41 |
| Bueno | ML25-021 | 357671 | 7128444 | 1600 | 300 | 45 | 175.26 |
| SKR | ML25-022 | 357574 | 7129040 | 1842 | 300 | 45 | 146.25 |
| SKR | ML25-023 | 357574 | 7129040 | 1842 | 300 | 70 | 114.3 |
| SKR | ML25-024 | 357588 | 7128998 | 1815 | 300 | 45 | 137.16 |
| SKR | ML25-025 | 357588 | 7128998 | 1815 | 300 | 70 | 114.3 |
| SKR | ML25-026 | 357596 | 7128848 | 1716 | 300 | 45 | 216.1 |
| SKR | ML25-027 | 357596 | 7128848 | 1716 | 300 | 60 | 214.68 |
| SKR | ML25-028 | 357790 | 7129119 | 1872 | 300 | 45 | 132.59 |
| SKR | ML25-029 | 357790 | 7129119 | 1872 | 300 | 60 | 111.25 |
| SKR | ML25-030 | 357861 | 7128964 | 1772 | 300 | 45 | 106.68 |
| TESS - NV | ML25-031 | 361298 | 7131593 | 1649 | 160 | 60 | 176.47 |
| TESS - NV | ML25-032 | 361298 | 7131593 | 1649 | 160 | 45 | 138.54 |
| Bueno | ML25-033 | 357473 | 7128153 | 1399 | 300 | 50 | 153.93 |
| Bueno | ML25-034 | 357473 | 7128153 | 1399 | 300 | 70 | 173.74 |
| SKR | ML25-035 | 357811 | 7128978 | 1778 | 300 | 45 | 208.79 |
| Bueno | ML25-036 | 357496 | 7128263 | 1466 | 300 | 50 | 128.02 |
| Bueno | ML25-037 | 357496 | 7128263 | 1466 | 300 | 65 | 140.21 |
| Fishbowl | ML25-038 | 358386 | 7131417 | 1415 | 120 | 50 | 263.65 |
| Lorrie | ML25-039 | 357348 | 7126558 | 1500 | 320 | 45 | 187.45 |
(1) See the Companies News Release dated October 1, 2025.
(2) See the Companies News Release dated September 2, 2025.
(3) See the Companies News Release dated October 20, 2025.
Devon Project Drilling Update
The 2025 Devon drill program completed 5 diamond drill holes, totalling 957 meters in the Copper Hill area of the Project. Each drill hole was designed to test for Cu-Ni-PGE mineralization hosted within and at the contacts of the Pigeon River ultramafic dykes. Targets were selected based on discreet VTEMTM tau anomalies located within and at the contact of the Pigeon River dykes and associated with intersecting structural features, as well as having identified mineralized angular boulders of vari-textured olivine gabbro in the down-ice direction of the tau anomalies and outcrop of disseminated sulfide-bearing gabbro.
All five drill holes collared in massive medium-grained gabbro and intersected the lower contact with Rove Formation shale and sandstone. Locally there are trace amounts of very fine-grained disseminated pyrite within quartz-carbonate-biotite veinlets that cross-cut the gabbro. The shales contain intercalated graphitic layers and minor amounts of mm-scale fine-grained pyrite bands. No significant zones of sulfide mineralization were intersected.
Assay Methodology & QA/QC
The diamond drilling on the ML Property consisted of NTW size core and was cut in half on site using a diamond saw. One half of the core was submitted for analysis, and the other half was held as retention in the original core box. The analytical work on the ML project was performed by AGAT Labs, an internationally recognized analytical services provider, located in Calgary, Alberta. All rock and core samples were prepared using procedure 200-075 (Dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method 202-051 (30g fire assay with AAS finish) and 201-074 (multi-element analysis with aqua regia digest and ICP-OES/MS finish). Samples containing >10g/t Au were reanalysed using a 50g Fire Assay with a Gravimetric finish. Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn were reanalyzed using a 4-acid digest and ore grade ICP-OES analysis.
The reported work was completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no QA/QC issues.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Jodie Gibson, P.Geo., Vice President Exploration of Prospector, and a Qualified Person as defined under National Instrument NI 43-101 ("NI 43-101").
About Prospector Metals Corp.
Prospector Metals Corp. is a proud member of Discovery Group. The Company is focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Yukon and Ontario, Canada - Historical mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders and seeks to develop partnerships and agreements that are mutually beneficial to all interested parties.
On behalf of the Board of Directors,
Prospector Metals Corp.
Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO
For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com or contact Prospector at 1-778-819-5520 or by email at info@prospectormetalscorp.com.
Prospector Metals Corp. is a proud member of Discovery Group. For more information, please visit: discoverygroup.ca
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, the Company's plans with respect to the Company's projects, including the ML Project, and the timing related thereto of the drill program, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "strategy," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275987