Prospector appoints VP, corporate communications

Executive Summary

• Prospector Metals Corp. appointed Michael Rockandel as Vice President, Corporate Communications.
• The company reported the full exercise of warrants expiring on March 5, generating approximately $5.6 million in proceeds, with significant participation from insiders and advisers.
• The company granted a total of 4.39 million equity-based compensation instruments (DSUs, RSUs, and options) to directors, officers, employees, and consultants, subject to TSX Venture Exchange approval.

Key Details

• Management Appointment: Michael Rockandel appointed as Vice President, Corporate Communications; described as an integral part of the team and a new member of the senior management team.
• Warrant Exercise:
  • Total warrants exercised: 18,699,544.
  • Exercise price: $0.30 per warrant.
  • Gross proceeds: $5,609,863.
  • Notable detail: Many warrants were exercised by company insiders and advisers, demonstrating confidence in the business model.
• Share Incentive Grants:
  • Deferred Share Units (DSUs): 2.4 million granted.
  • Restricted Share Units (RSUs): 1.54 million granted.
  • Incentive Stock Options: 450,000 granted.
  • Option Terms: Exercisable for five years at a price of $1.22 per common share.
  • Recipients: Certain directors, officers, employees, and consultants.
  • Status: Subject to TSX Venture Exchange approval and vesting according to the omnibus incentive plan.
• Operations Update (ML Project, Yukon):
  • Preparing for a 25,000-metre drill program.
  • Drilling contracts are in place.
  • Anticipated start date: May 15.
• Financial Position:
  • Board-approved budget for 2026: $15 million.
  • Treasury balance: Over $43 million.
  • The 2026 budget is fully financed from the current treasury.

Notable Quotes

• "Michael has been an integral part of Prospector's team since joining full-time, and he is a welcome new member to Prospector's senior management team. Michael brings a hard-working and dedicated philosophy to his workday, and I am looking forward to working with him in his new role." — Dr. Rob Carpenter, President, CEO, and Co-Chairman