Prospector Drills New Discovery: Hole ML25-31 Intersects 13.79 g/t Au and 1.84% Cu over 44m, Includes Higher-Grade Interval of 21.93 g/t Au over 24.65m

Executive Summary

• Prospector Metals announced the first-ever drill hole (ML25‑31) testing a newly identified “TESS Zone” on its ML Project in Yukon, intersecting a massive high‑grade gold–copper–silver mineralized interval.
• The hole returned a 44 m composite intercept averaging 13.79 g/t Au, 1.84 % Cu and 38.08 g/t Ag from 62 m depth, including a higher‑grade sub‑interval of 21.93 g/t Au over 24.65 m and a spectacular 288 g/t Au over 1 m with visible gold.
• Mineralization remains open both at depth and along strike; follow‑up drilling (ML25‑32) has already intersected the zone, confirming its steep dip and continuity.

Key Details

• Hole ML25‑31 (North Vein area) – drilled 160° azimuth, –60° dip to test NE‑trending structural corridor.
• TESS Zone: 62–106 m depth (44 m true thickness ≈70‑75 %).
  • Composite: 13.79 g/t Au, 1.84 % Cu, 38.08 g/t Ag.
  • Sub‑intervals:
  • 62–76 m: 4.60 g/t Au, 3.76 % Cu, 74.23 g/t Ag (14 m).
  • 81.35–106 m: 21.93 g/t Au, 1.14 % Cu, 25.58 g/t Ag (24.65 m).
  • 92–106 m: 37.88 g/t Au (13 m).
  • 104–105 m: 288 g/t Au over 1 m with visible gold and abundant Bi‑Te minerals.
  • Additional metals: up to 11.7 % Cu, 283 g/t Ag, 0.98 % Bi, 246 ppm Te.

• Historic North Vein: 138–145.36 m depth (7.36 m) – 5.69 g/t Au, 1.16 % Cu, 22.21 g/t Ag; includes 10 g/t Au over 1 m and 21.3 g/t Au over 1.36 m.

• Hole ML25‑32 (over‑cut of ML25‑31) – intersected the TESS Zone at ~38 m depth; assays pending but mineralization appears more oxidized, confirming steep dip and open continuity.

• Exploration Context:

• The TESS Zone is a “blind” discovery obscured by surface talus; surface mapping traced the trend ≥500 m.
• Multiple additional high‑priority drill targets identified in the immediate vicinity based on geochemical, LiDAR and WorldView data.

• 2025 ML drilling program completed: 39 holes, 6,648.91 m (exceeded budget by ~1,649 m). Assays received for 12 holes, with grades ranging from trace to 379 g/t Au, 283 g/t Ag, and 11.70 % Cu.

• Corporate Comments:

• Rob Carpenter, President & CEO, highlighted the discovery as a new style of gold mineralization (RIRGS) and emphasized the extensive surface trace and potential for further discoveries.

• Jodie Gibson, VP Exploration, noted the unique reduced‑intrusion related gold system and the strong association with Bi‑Te minerals.

• Webinar: Prospector scheduled a live webinar (10:00 AM PST) where CEO Rob Carpenter will discuss results and field questions.

Notable Quotes

“This discovery represents an exciting new style of gold mineralization for the ML Project… The high‑grade and near‑surface intercept occurs within a distinct zone that is coincident with a diagnostic surface geochemical signature.” – Rob Carpenter, President & CEO

“The high grade gold and copper mineralization on the Tess is a new and very unique style of reduced intrusion related gold mineralization (RIRGS)… indicates potential for very high‑grade mineralization on the margins of these systems.” – Jodie Gibson, VP Exploration