Prospector TESS Zone Hole ML26-46 Yields Multiple High-Grade Intervals Including: 14.7 g/t Au, 47.7 g/t Ag and 1.81% Cu over 2.1m (From 43.4m); 24.2 g/t Au, 31.6 g/t Ag and 1.62% Cu over 3.5m (From 67.6m); and 5.05 g/t Au, 29.2 g/t Ag and 1.16% Cu over 27

Prospector Metals Corp. (PPP) has released assay results for eight new holes from its 2026 ML Project drill campaign, comprising five from the TESS Zone and three regional reconnaissance holes.

The headline hole, ML26-46, returned multiple zones of mineralization: * 14.72 g/t Au, 47.72 g/t Ag, 1.81% Cu over 2.10m from 43.35m * 24.17 g/t Au, 31.64 g/t Ag, 1.62% Cu over 3.50m from 67.60m * 5.05 g/t Au, 29.25 g/t Ag, 1.16% Cu over 27.35m from 123.75m * including 22.32 g/t Au, 59.36 g/t Ag, 2.40% Cu over 2.60m * including 13.74 g/t Au, 47.51 g/t Ag, 1.94% Cu over 5.60m * including 0.68 g/t Au, 110.30 g/t Ag, 4.12% Cu over 2.05m

Hole ML26-51 returned 21m at 6.44 g/t Au, 4.43 g/t Ag, 0.20% Cu from 73.70m, including 1.8m at 56.48 g/t Au and 0.5m at 43.20 g/t Au. Hole ML26-52 returned 32.34m at 1.09 g/t Au from 115.2m, with a higher-grade subinterval of 2.83m at 3.38 g/t Au, 63.32 g/t Ag, 3.32% Cu.

Other holes returned narrower or lower-grade intervals: ML26-044 returned 1.15m at 3.28 g/t Au; ML26-050 returned 0.70m at 4.30 g/t Au; and ML26-043 returned an additional 1.85m at 1.07 g/t Au.

Regional hole ML26-045, located 350m northwest of the TESS Zone, returned 2.58m at 1.65 g/t Au and is described as a new blind fault zone.

The release also announces that the Skarn Ridge Zone has been renamed the Phoenix Zone. Additionally, the Lightning Resource sale has closed, with year-end 2026 cash projected near C$30M.

Prospector Metals Corp. (PPP) is a pre-resource explorer in the Yukon with no revenue, meaning its equity value is driven entirely by exploration outcomes and treasury holdings. The market had already repriced the stock sharply around the TESS discovery. The shares rose from approximately C$0.30 prior to the October 2025 discovery to a high of C$1.80 in May 2026, before collapsing to C$0.87 following the weak assay batch released on 11 August 2026.

Before the 10 September release, the stock closed at C$0.86, only slightly above the post-miss low of C$0.83, indicating that expectations had largely reset downward. Against this deflated backdrop, the ML26-46 result represents a genuine positive. It is the first 2026 step-out to demonstrate multiple high-grade Au-Cu-Ag intervals in a single hole and is far stronger than the 5.15m at 7.30 g/t Au best intercept from the 11 August batch.

While the result does not repeat the 2025 bonanza grade, it extends the high-grade core and supports the structural model. The discovery of a new blind fault at ML26-045 also adds modest target upside. Although this is not a resource-defining or district-opening event, it is materially new relative to depressed market expectations and is likely to move the share price by more than a routine batch.

Prospector Metals Corp. (PPP) is focused on the ML Project in Yukon, a 10,869-hectare property acquired in 2024. The central asset is the TESS Zone, discovered in late 2025. The corporate presentation also describes Skarn Ridge, now renamed the Phoenix Zone, plus regional targets including Pebble, Nit, Raptor, and intrusive-hosted RIRGS targets.

The 2025 and 2026 exploration programs have been fully funded. June 2026 financials show cash of C$42.09M; the 10 September release projects about C$30M hard cash at year-end 2026 after the Lightning transaction and full drill season. The company has completed the sale of its non-Yukon assets to Lightning Resource Corp. and plans to distribute Lightning shares to Prospector holders.

B2Gold has been a strategic investor. Management includes Rob Carpenter, with a Kaminak/Coffee discovery track record.