Prospector Reports High-Grade Outcrop Results up to 156 g/t Au From the Bueno Target, ML Project, Yukon: Drilling Expected to Begin by end of June

Vancouver, British Columbia--(Newsfile Corp. - June 10, 2025) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") announces results of 25 surface rock samples collected by Company geologists from the ML Project ("ML") in late May, 2025. The samples are all from the undrilled Bueno Target. Bueno consists of several mineralized trends identified as T1, T4, T6 and T8.

Key Point Summary

• High-grade surface outcrop samples of 23.6 g/t Au, 51.7 g/t Au, 108 g/t Au, 119 g/t Au and 156 g/t Au were obtained over the T1 & T6 trends at the Bueno Target. These results significantly extend the known length of the surface mineralization and are associated with previously undrilled structural zones.

• Additional significant surface results of 5.92 g/t Au and 6.39 g/t Au were obtained from the T4 trend. This trend is likely parallel to the T1 trend separated by approximately 50m. The T4 trends has also never been drill tested.

• Prospector is scheduled to begin its maiden drill program at ML before the end of June. The program comprises a fully funded diamond drill campaign of 5,000m designed to test high-priority target areas identified in 2024. At least 6 target areas intend to be drilled including, Bueno, Skarn Ridge, Rubble, Fishbowl, Java and North Vein targets. A detailed slide deck outlining the specific target areas and drill strategy can be found at the following link: Prospector Metals Corp. | Presentations and Downloads.

"Our technical team visited the Bueno target as soon as the snow melted this Spring in order to ground truth some conceptual ideas constructed over the winter months and the results represent some of the highest gold assays ever reported from ML," stated Rob Carpenter, President and CEO of Prospector metals Corp. "We will begin drill testing these targets in the coming weeks."

Descriptions and Results

In late May 2025, a sampling program was conducted to validate geologic controls on the Bueno target based on analysis of historical results, LiDAR, air photos, and World View – 3 imagery during the winter months. A total of 25 rock grab and chip samples were collected from outcrop, subcrop, and adjacent talus and returned results from 0.016 - 156 g/t Au. Multi-element analysis of the samples is currently in progress and will be presented in due coarse.

The focus of the work was on four historic blast trenches placed on the target in 1998 over a 300m strike length and adjacent areas; specifically T1, T4, T6, & T8. Highlights of the historic work included 14.51 g/t Au over 6m from T1; 1.56 g/t Au over 25m from T4; and grab samples of 210 g/t Au and 387.5 g/t Au⁽¹⁾. The purpose of the 2025 work was to confirm the tenor and location of the historic results and assess the geological controls on mineralization. Results from the specific areas are discussed in more detail below.

Figure 1: Bueno Target showing 2025 sample locations with gold results.

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T1
A total of 9 samples were collected from the T1 area and included samples from outcrop/subcrop of 23.6 g/t Au, 51.7 g/t Au, 119 g/t Au, and 156 g/t Au. The mineralization in the area is hosted within strongly calc-silicate altered metasediments cut by strong NE and E-W trending fractures with disseminated to massive arsenopyrite +/- chalcopyrite-pyrrohtite. The strongest mineralization is associated with NE trending quartz veining, silicification, and localised brecciation that overprints the calc-silicate alteration, and mineralization is open beyond the limits of the historic trench to the NE and SW.

Figure 2: Outcropping mineralization on T1 showing 2025 sample locations.

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T4
Four samples were collected from the T4 area and included results of 1.19 g/t Au and 6.39 g/t Au, and follow up on samples from the 2024 program of 7.42 g/t Au and 34.64 g/t Au⁽²⁾. Mineralization from the area appears to be associated with NE trending, strongly altered, fine grained feldspar porphyry dike(s) with disseminated arsenopyrite-chalcopyrite mineralization.

T6
Six samples were collected from outcrop/subcrop on the ridgeline above the T6 trench and included results of 1.8 g/t Au and 108 g/t Au. The mineralization is similar to T1 and consists of disseminated to massive arsenopyrite-chalcopyrite within calc-silicate altered metasediments with strong NE oriented fracturing, localised brecciation, and quartz veining/silicification. The northern portion of T6 could not be assessed due to snow cover.

T8
Five samples were collected from the T8 area and included results of 5.92 g/t Au. The mineralization occurs within strongly fractured calc-silicate altered metasediments with disseminated to massive arsenopyrite +/- chalcopyrite on the margin of a NNE trending, steeply dipping, megacrystic feldspar porphyry dike.

Overall, the program confirmed the historic sampling results and indicate that gold mineralization in the Bueno area is controlled by a series of NNE trending, steeply dipping structural trends and associated feldspar porphyry dikes with secondary controls including lithologic contacts and structural intersections. Gold mineralization appears to be late with the highest-grade values associated with quartz veining, silicification, and localised brecciation that overprints early calc-silicate alteration. It should be noted, one historic drill hole (SK05-01) is located in the Bueno area and returned only anomalous results. However, the hole was drilled to the north and the current interpretation indicates it was drilled subparallel and outside of the mineralized structural trends.

Bueno is a high priority drill target for the upcoming maiden ML drill program scheduled to begin before the end of June. The program comprises a fully funded diamond drill campaign of 5,000m designed to test high-priority target areas identified in 2024. At least 6 target areas intend to be drilled including, Bueno, Skarn Ridge, Rubble, Fishbowl, Java and North Vein targets. A detailed slide deck outlining the specific target areas and drill strategy can be found at the following link: Prospector Metals Corp. | Presentations and Downloads.

Assay Methodology & QA/QC

The analytical work on the ML Project was performed by AGAT Labs, an internationally recognized analytical services provider, located in Calgary, Alberta. All rock 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 – Tier-1 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

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, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, 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 and risks 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.

(1) Bordin, Papageorge, & Kuran (1998). 1998 Geological, Geochemical, and Geophysical Program on the Mike Lake Property. Yukon Assessment Report 093922.
(2) See the Companies news release dated Aug. 15, 2024. Available on SEDAR+.

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