Prospector Initiates Drilling on Devon Cu-Ni Project, Ontario

Executive Summary

• Prospector Metals Corp. has commenced a fully financed, 1,000 m diamond drill program on the Devon Copper‑Nickel Project in Northwestern Ontario, targeting five high‑priority zones identified through VTEM surveys and surface sampling.
• The three‑week drilling campaign will test up to 44 Ni‑Cu targets, with initial results expected within 1–2 weeks for the adjacent ML project’s Skarn Ridge target.
• Surface work to date includes 219 rock samples showing up to 1.13 % Cu, 0.53 % Ni and 3.54 g/t Pd+Pt, supporting the hypothesis of high‑tonnage base‑metal mineralisation at depth.

Key Details

• Drill Program Scope: 1,000 m of NQ2 core drilling across five targets in the Copper Hill Occurrence area; anticipated duration ~3 weeks.
• Financing: The program is fully funded by existing cash resources (no external financing disclosed).
• Target Selection: Based on detailed 3‑D modelling of VTEM data, prospecting and mapping that returned surface samples up to 1.13 % Cu, 0.53 % Ni, 3.54 g/t Pd+Pt.
• Geology: Project covers 15,347 ha with mafic‑ultramafic intrusives (Crystal Lake Gabbro, Pigeon River and Logan intrusions) hosting disseminated to massive magmatic Ni‑Cu sulfides and PGEs; targets are associated with steeply dipping late‑time VTEM conductors along normal faults.
• VTEM Results: 44 high‑priority Ni‑Cu conductors identified as late‑time anomalies, distinct from flat‑lying conductors elsewhere on the property.
• Surface Sampling: 219 rock samples collected; mineralisation ranges from below detection to 1.13 % Cu, 0.53 % Ni, 3.54 g/t Pd+Pt.
• Assay & QA/QC: Core will be split on‑site; half sent to AGAT Labs (Thunder Bay) for fire assay (Au, Pt, Pd) and multi‑element ICP analysis. Samples >1 % Cu/Ni receive additional 4‑acid digest verification. Certified standards, blanks and duplicates inserted per NI 43‑101 QA/QC protocols.
• Qualified Person: Jodie Gibson, P.Geo., Vice President Exploration (NI 43‑101 QP) reviewed and approved technical content.

Notable Quotes

“The Devon Project was staked in January 2023… these targets represent a low‑cost / high‑reward exploration opportunity that will only take three weeks to drill test.” – Dr. Robert Carpenter, Co‑Chairman & CEO

All forward‑looking statements are subject to risks and uncertainties as outlined in the release.