Prospector Metals begins initial drilling at Devon

Executive Summary

• Prospector Metals Corp. has launched a maiden 1,000‑metre 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 drill campaign is fully financed, road‑accessible, and expected to be completed within three weeks.
• Prior surface work returned up to 1.13 % Cu, 0.53 % Ni and 3.54 g/t Pd+Pt, supporting the hypothesis of higher‑grade mineralization at depth.

Key Details

• Drill Program: 1,000 m total length, NQ2‑size core; five targets within the Copper Hill Occurrence area.
• Target Selection: Based on 3‑D modelling of VTEM (versatile time‑domain electromagnetics) data highlighting 44 high‑priority conductors, plus historic prospecting and mapping results.
• Financing: Program is fully funded; no additional capital raise required.
• Timeline: Anticipated three‑week field window to complete drilling.
• Surface Geochemistry (Oct 28 2025 release): 219 rock samples showed up to 1.13 % Cu, 0.53 % Ni and 3.54 g/t Pd+Pt on previously unrecognized targets.
• Geology: Project covers 15,347 ha with mafic‑ultramafic intrusives (Crystal Lake gabbro, Pigeon River, Logan intrusive) hosting disseminated to massive sulfide mineralization and PGEs; dikes intersect normal faults providing conduits for magmatic fluids.
• Assay Protocol: Core split on site; half retained, half sent to Agat Labs (Thunder Bay). Sample preparation per procedure 200‑075; analysis by fire assay with ICP‑OES finish (method 202‑055) and multielement aqua regia digest (method 201‑074). Samples >1 % Cu/Ni re‑analyzed via four‑acid digest. QA/QC includes certified standards, blanks, duplicates.
• Qualified Person: Jodie Gibson, P.Geo., VP Exploration, reviewed and approved the technical content per NI 43‑101.

Notable Quotes

“The Devon project was staked in January 2023… these base‑metal targets are highly valued and have never been drilled, representing a low‑cost/high‑reward exploration opportunity that will only take three weeks to drill test.” – Dr. Robert Carpenter, Co‑Chairman & CEO

Materiality Assessment: Material – Positive (initiation of a fully funded drill program on a newly identified copper‑nickel‑PGE target with encouraging surface assay results).