Prismo receives drill permit approval for Silver King

Executive Summary

• Prismo Metals Inc. has received formal permit approval from the U.S. Forest Service to commence a fully financed drill program at its historic Silver King mine project in Arizona.
• The Phase 1 program involves 1,000 metres of diamond drilling across nine holes to test the upper portion of the steeply plunging, pipe-like Silver King mineralized body and adjacent targets.
• Mobilization is scheduled for February 20, 2026, with Godbe Drilling LLC engaged as the contractor to conduct the initial exploration work.

Key Details

• Permit Status: Formal approval received from the U.S. Forest Service to proceed with drilling at the Silver King project.
• Drilling Scope (Phase 1):
  • Total volume: 1,000 metres of diamond drilling.
  • Number of holes: Nine.
  • Target: Upper portion of the steeply west-dipping pipe-like stockwork and breccia zone; historic high-grade silver and base metal production areas; and targets adjacent to and beneath historic workings.
• Timeline:
  • Mobilization to site: February 20, 2026.
  • Followed by preparatory site work, access improvements, and drilling.
• Future Phases: A second phase of drilling is planned to test deeper levels and areas adjacent to the historic mine. Testing of other high-priority targets on private ground is also being considered.
• Contractor: Godbe Drilling LLC (Colorado-based, family-owned) engaged for the program; they have a staging area near the project and extensive experience in Arizona.
• Project Context:
  • Silver King mine discovered in 1875; one of Arizona's most significant historic silver producers.
  • Historical production: Nearly six million ounces of silver at average grades of 61 to 21 ounces per ton.
  • Late 1990s small-scale mining yielded exceptionally high silver and gold values.
  • Location: Arizona's prolific copper belt, approximately 3.4 kilometres from the Resolution Copper joint venture (Rio Tinto/BHP).
• Funding: The program is fully financed.

Notable Quotes

• Dr. Craig Gibson, Chief Exploration Officer: "Receiving approval for drilling at Silver King is a key milestone as we transition from surface exploration into active testing of the system. With funding in place for multiple phases of drilling, we are well positioned to evaluate the significant exploration potential of this historic, high-grade silver system."
• Alain Lambert, Chief Executive Officer: "Following a very smooth permitting process with Forest Service, we are now ready to conduct the first-ever comprehensive drill program at Silver King. Our exploration work to date has attracted the attention of many given the results we have published and our proximity (3.4 kilometres) to Resolution Copper, a Rio Tinto/BHP joint venture. I expect the drilling program to heighten attention."