Prospector Continues to Expand Multiple High-Grade Gold Trends: TESS Zone Hole #32 Yields 7.29 g/t Au, 0.91% Cu over 14m and Skarn Ridge Zone Hole #24 Yields 2.04 g/t Au, 0.42% Cu over 27m Plus 4.33 g/t Au, 0.5% Cu over 19m
Suite 1020 – 800 West Pender Street, Vancouver, BC V6C 2V6
Prospector Continues to Expand Multiple High-Grade Gold
Trends: TESS Zone Hole #32 Yields 7.29 g/t Au, 0.91% Cu over
14m and Skarn Ridge Zone Hole #24 Yields 2.04 g/t Au, 0.42%
Cu over 27m Plus 4.33 g/t Au, 0.5% Cu over 19m
Vancouver, BC Novem ber 26th, 2025. Prospector Metals Corp. (“Prospector” or the “ Company”)
(TSXV: PPP; OTCQB: PMCOF; Frankfurt: 1ET0) today announced final assay results for 15 drill holes from
multiple gold zones including, TESS, Skarn Ridge, Bueno, Fishbowl and Lorrie. Drill results have now been
released for all 39 holes drilled property -wide in 2025. The newly discovered TESS Zone has intersected
wide intervals of high-grade Au-Cu-Ag in both holes drilled to date. The Skarn Ridge Zone is comprised of
multiple stacked gold zones extending for at least 1.4km along trend. TESS and Skarn Ridge are
approximately 4km apart and the gap remains largely untested.
Rob Carpenter, Ph.D., PGeo., President, CEO and Co -Chairman of Prospector, stated : "Our 2025 drilling
at ML successfully identified several high-grade gold corridors that will be followed up in our fully funded
2026 program. We anticipate an aggressive 25,000m drill plan aimed at extending our key zones along
trend and to depth as well as test new targets generated through prospecting and structural mapping."
Key Point Summary
• Drill hole ML25-32 is the second hole drilled at the newly discovered TESS Zone and key results
include 7.29 g/t Au, 0.91% Cu and 24.98 g/t Ag over 14m beginning 66m downhole. Both TESS
holes drilled to date have intersected thick intervals of high-grade gold plus copper and silver.
Analysis of 3D cross-sections suggest TESS is a near-vertical zone open at depth and along trend.
• Mineralization in hole ML25-32 is heavily oxidized due to being located near surface, and
primary sulphide minerals are less apparent than deeper holes. Higher gold grades within this
interval appear to occur where sulphides are best preserved.
• The TESS - North Vein structural corridor is composed of multiple, steeply-dipping and sub-
parallel trending structural zones that are coincident with surface geochemical anomalies which
can be traced for at least 500m.
• Skarn Ridge Trend continues to expand with hole ML25-024 yielding 27m of 2.04 g/t Au, 0.42%
Cu, & 8.7 g/t Ag over 27m from 24m depth, including 12m of 3.82 g/t Au, 0.36% Cu, & 7.89 g/t
Ag from 29m plus a separate downhole intercept of 19m of 4.33 g/t Au 0.5% Cu, & 9.88 g/t Ag
from 57m. Also drill holes ML25-027 intercepted 3.54m of 10.42 g/t Au from 145m hole depth.
• Final assays have now been released from all 2025 drill holes. A total of 39 holes were
completed for a total of 6,648.91m at a total cost per meter of -$520. Drill planning for 2026 is
underway and details for a proposed 25,000m program will be released by QI 2026. Prospector
currently has over $40 million in working capital and is fully funded through 2026.
Figure 1: ML Property Target Areas
Tess – North Vein
A total of 315.01m over 2 drill holes were completed on the North Vein – Tess targets. To date, results
have been received for all holes; including previously announced results of 44m of 13.79 g/t Au & 1.84%
Cu in hole ML25-31 (1). The holes were designed to test interpreted northeast structural controls on
mineralization on the North Vein target and intersected a new zone of mineralization in addition to North
Vein alteration/mineralization at depth.
ML25-032
ML25-032 was drilled as an over-cut to ML25-031 at a -50o. The hole returned 14m of 7.29 g/t Au, 0.91%
Cu, & 24.98 g/t Ag from 57.05m depth; including 5.05m of 11.19 g/t Au, 1.98% Cu, & 56.90 g/t Ag from
66m depth. The mineralization is hosted within strongly fractured and oxidized clastic sedimentary units
with localised quartz veining, clay alteration, and silica flooding with fracture controlled to disseminated,
locally massive, arsenopyrite -pyrite-chalcopyrite-pyrrhotite mineralizatio n and/or geothite -limonite in
more oxidized sections. The mineralization correlates with the upper high-sulfide portion of the Tess Zone
intersected in ML25 -031, and occurs within a broader zone of strong oxidation and fracturing with
anomalous pathfinder elements (As +/- Bi +/- Cu) but low gold grades. The hole also intersected a second
zone of strongly oxidized fracturing from approximately 100 – 118m depth interpreted as the projection
of the North Vein zone, but only returned anomalous pathfinder elements (As – Cu).
Table 1: Summary of 2025 Tess – North Vein Drill Intercepts
Zone Hole ID From (m) To (m) Interval (m) Au (g/t) Cu (%) Ag (g/t)
Tess
ML25-031 62.00 106.00 44.00 13.79 1.84 38.08
Incl. 62.00 76.00 14.00 4.60 3.76 74.23
And 81.35 106.00 24.65 21.93 1.14 25.58
Incl. 92.00 106.00 13.00 37.88 0.21 5.11
Incl. 104.00 105.00 1.00 288.00 - -
North Vein
And 138.00 145.36 7.36 5.69 1.16 22.21
Incl. 144.00 145.36 1.36 21.30 2.48 44.50
Tess ML25-032 57.05 71.05 14.00 7.29 0.91 24.98
Incl. 66.00 71.05 5.05 11.19 1.98 56.90
Figure 2: Cross-section of ML25-031 & -032 on Tess North Vein looking East
Figure 3: ML25-032 from 54.36 – 71.28m with sample intervals and gold grades. Red arrows mark the
beginning of sample intervals.
Tess-North Vein Discussion
The Tess Zone occurs north of the historic North Vein occurrence and would not have been tested by
historic drilling. At surface the Tess Zone is obscured by a thin layer of talus and is a blind discovery. Both
zones are pervasively oxidized at surface and appear to have a strong association with jarosite alteration.
In ML25- 031, the Tess Zone consisted of an upper, sulfide rich, zone with disseminated to massive
arsenopyrite-chalcopyrite-pyrite-pyrrhotite within calc -silicate to vuggy silicified and clay altered rocks
with strongly Au – Cu values (14m of 4.60 g/t Au, 3.76 g/t Cu, & 74.23 g/t Ag from 62m depth (1)) and a
lower, pervasively calc -silicate altered zone with black sulfidic fractures, disseminated arsenopyrite –
pyrrhotite - chalcopyrite, coarse Bi-Te minerals, local visible gold, and significantly elevated Au (24.65m
of 21.93 g/t Au, 1.14% Cu, and 25.58 g/t Ag from 81.35m depth (1)). Hole ML25-032 was an over- cut of
ML25-031 and returned 14m of 7.29 g/t Au, 0.91% Cu, & 24.98 g/t Ag from 57.05m depth and correlates
as the projection of the upper sulfide rich zone interested in ML25-031, confirming the mineralized zone
is steeply dipping. The mineralization occurs within a broader zone of strong oxidation , fracturing, and
localised brecciation with anomalous pathfinder elements (As +/ - Bi +/ - Cu) but low gold grades and
includes the projection of the lower gold rich zone intersected in ML25-031. The current interpretation is
that mineralization on the Tess – North Vein is structurally controlled along ENE trending, steeply dipping,
zones of fracturing and brecciation. It is also anticipated that the zones of mineralization will have a plunge
controlled by the intersection of the structural zones with host lithologies and/or other structures.
Evaluation of the alteration , mineralization, and structural controls of the Tess – North Vein is ongoing
and includes additional geochemical analysis and petrographic studies.
Figure 4: Tess North Vein section with Jarosite looking NE
Skarn Ridge – Bueno Trend
The assays received to date and visual observations from pending holes confirm that gold mineralization
from Skarn Ridge to Bueno is hosted within a series of north -northeast trending, steeply dipping,
structural zones and associated splays. Individual mineralized trends range from 1-2m wide up to 44m
wide and can be traced in multiple drill holes (i.e. ML-10-13 and 22-25) The corridor has now been traced
over 1.5km along strike and have over 600m of vertical continuity. The 2025 drilling at Skarn Ridge – Bueno
successfully confirmed key structural interpretations for the ML project resulting in a new exploration
model that can be applied project-wide
Within the structural corridors, gold mineralization is noted in every rock type on the Skarn Ridge-Bueno
Trend and is best developed within strongly fractured/brecciated calc -silicate altered and/or iron rich
units, and along lithologic contacts. The gold mineralization is, locally, coincident with significant copper
mineralization, however, the gold and copper mineralizing events appear to be independent of each
other. Gold is focused within structural corridors and is strongly associated with bismuth and tellurium
mineralization, whereas copper is more broadly distributed and only occurs within strongly calc -silicate
altered units.
Skarn Ridge
A total of 2,976.84m over 18 drill holes were completed on the Skarn Ridge target. To date, results have
been received for all holes; including previously announced results on ML25-10 & -011(2) and ML25-012 –
023(3). The holes were designed to test previously unrecognized north -northeast trending structural
controls associated with historically reported gold-copper mineralization on the target (Figure 4).
ML25-024 & -025 were drilled from the same location 5 3m south of ML25-022 & -023. Both holes were
drilled at a 300o azimuth and -45o and -70o dips, respectively. Both holes intersected a broad, up to 70m,
zone of calc -silicate altered siltstone , marl, and gabbro with disseminated to fracture controlled
pyrrhotite-arsenopyrite-chalcopyrite mineralization and anomalous gold and copper values. The most
significant mineralization is associated with zones of increased fracturing, veining, and brecciation and
include 27m of 2.04 g/t Au & 0. 42% Cu from 24m depth and 19 m of 4.33 g/t Au & 0.50 % Cu from 57m
depth in ML25-024. ML25-025 returned broad zones of anomalous Au-Cu mineralization, but only narrow
zones of significant grades including 3m of 1.18 g/t Au & 0.71% Cu from 43m depth and 2m of 3.25 g/t Au
from 68m depth.
ML25-026 & -027 were drilled from the same location 40 m north east of ML25-019 & -020. Both holes
were drilled at a 300o azimuth and -45o and -60o dips, respectively, and intersected three subvertical zones
of gold and copper mineralization. Gold values were consistently anomalous across the zones with the
best values returning from ML25-027 and include 3.54m of 10.42 g/t Au from 145m depth. Additionally,
both holes returned significant copper intercepts and include 25.27m of 0.77% Cu from 167m depth; incl.
9m of 1.28% Cu from 179m depth from ML25- 019 and 26m of 0.35% Cu from 220m depth; incl. 5m of
0.73% Cu from 177m depth in ML25-026 and 10.65m of 054% Cu from 200.89m depth in ML25-027. The
mineralized zones intersected correlate with intervals returned in hole ML25-019 & -020, with the lower
zone(s) on projection of Au-Cu intercepted 140m to the north in ML25-024 & -025.
ML25-028 & -029 were drilled from the same location, 38m south of ML25-014 & -015. Both holes were
drilled at a 300 o azimuth and - 45o and -60o dips, respectively. Both holes returned up to 20m zones of
anomalous Au mineralization with the most significant value of 2.35 g/t Au over 1m from 78m depth in
ML25-028. While, significant mineralization wasn’t returned in the holes, the anomalous zones are on
trend of mineralization intersected in ML25 -014, confirming continuity of the structural zones to the
south.
ML25-030 was the most eastern hole drilled on Skarn Ridge, approximately 300m southeast of ML25-010/
-011, and was designed to assess the area for additional mineralized structural zones. A 15m wide zone
of anomalous Au (up to 1.18 g/t Au over 1m) was intercepted from 49 – 64m and an 8m zone of anomalous
Cu averaging 0.22% Cu was intercepted from 96 – 104m depth.
ML25-035 was drilled on section, 50m northwest, of ML25 -030 and was designed to assess the area for
additional mineralized structural zones. Isolated zones of anomalous Au and Cu were intercepted (up to
0.931 g/t Au and up to 0.44% Cu), but no significant zones of mineralization were returned.
Table 2: Summary of 2025 Skarn Ridge Drill Intercepts