Prospector Metals begins initial drilling at Devon

Dr. Robert Carpenter reports PROSPECTOR INITIATES DRILLING ON DEVON CU-NI PROJECT, ONTARIO Prospector Metals Corp. has begun its maiden drill program on the Devon copper-nickel project in Northwestern Ontario. High-priority drill targets have been selected from interpretations of detailed 3-D modelling of property-wide VTEM (versatile time-domain electromagnetics) as well as prospecting and mapping, which returned samples with up to 1.13 per cent copper, 0.53 per cent nickel and 3.54 grams per tonne palladium plus platinum (see the company's news release dated Oct. 28, 2025). The Devon nickel-copper project is road accessible and cut by paved highways. Co-chairman and chief executive officer Dr. Robert Carpenter, PhD, stated: "The Devon project was staked in January, 2023, with all targets developed in-house by Prospector prior to our major Tess gold discovery at the ML project announced last week. These types of base metals targets in Ontario are highly valued and have never been drilled, which represents a low-cost/high-reward exploration opportunity that will only take three weeks to drill test. The property is road accessible, and we have a strong conviction that these targets warrant drilling. The company's next batch of drill results from ML are from the Skarn Ridge target and are anticipated to be available in one to two weeks." Key summary The diamond drill program will consist of 1,000 metres of drilling testing five targets at the Copper Hill Occurrence area of the project. The program is fully financed and is anticipated to take approximately three weeks to complete. Devon nickel-copper project The Devon project comprises 15,347 hectares acquired through staking, 50 kilometres southwest of Thunder Bay, Ont., and is road accessible. The area is intruded by numerous mafic-ultramafic intrusives (Crystal Lake gabbro, Pigeon River and Logan intrusive), mostly dike-form intrusions, which can contain disseminated to locally massive magmatic nickel-copper sulphides with PGEs (platinum group elements). The dikes are emplaced along normal faults, which provide ideal conduits for deep-seated fertile mafic magmas to rise quickly through the crust without losing their chalcophile elements or PGEs. Devon project highlights: Results of the VTEM at Devon include 44 high-priority nickel-copper targets, which manifest as late-time conductors and are located within or in contact with Pigeon River ultramafic source dikes. These target conductors are steeply dipping and appear distinct from the numerous flat-lying conductors associated with Logan sills. A total of 219 rock samples were collected on the project and have successfully identified variably mineralized mafic and ultramafic rocks assaying from below detection up to 1.13 per cent copper, 0.53 per cent nickel and 3.54 grams per tonne palladium platinum on previously unrecognized targets (see the company's news release dated Oct. 28, 2025). The surface mineralization confirms the presence of nickel-copper mineralization within the right host rocks. The late-time conductors identified in the VTEM data and the preliminary 1-D inversion conductivity modelling, together with the modest tenor of mineralization seen at surface, suggest the presence of high-tenor mineralization under cover and to depth at multiple locations. Assay methodology and quality assurance/quality control The diamond drilling on the Devon property will consist of NQ2-size core and will be cut in half on site using a diamond saw. One-half of the core will be submitted for analysis and the other half will be held as retention in the original core box. The analytical work on the Devon project will be performed by Agat Labs, an internationally recognized analytical services provider, at its Thunder Bay, Ont., location. All core samples will be prepared using procedure 200-075 (dry, crush to 70 per cent passing two millimetres, riffle split off 250 grams, pulverize split to better than 85 per cent passing 75 microns) and analyzed by method 202-055 (30-gram fire assay for gold, platinum and palladium with ICP-OES finish) and 201-074 (multielement analysis with aqua regia digest and ICP-OES/MS finish). Samples containing greater than 1 per cent copper and/or nickel will be reanalyzed using a four-acid digest and ore-grade ICP-OES analysis. The work will be completed using industry-standard procedures, including a QA/QC program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. Qualified person The technical content disclosed in this press release was reviewed and approved by Jodie Gibson, PGeo, vice-president, exploration, of Prospector and a qualified person as defined under National Instrument NI 43-101. About Prospector Metals Corp. Prospector Metals 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. Most of the 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. We seek Safe Harbor.