Prospector Seeks Strategic Partner For Newfoundland Gold Projects

Suite 1012 – 1030 West Georgia Street, Vancouver, BC V6E 2Y3

Prospector Seeks Strategic Partner For

Newfoundland Gold Projects

Vancouver, BC – January 22, 2024, Prospector Metals Corp. (“Prospector” or the “ Company”)

(TSXV: PPP; OTCQB: PMCOF; Frankfurt: 1ET0) today announced that it has terminated the Toogood

Option Agreement with Storm Exploration Inc. (“Storm”) announced on September 25, 2023, due to

Storm’s inability to complete the transaction. The Company will explore strategic alternatives for the

project.

About Prospector Metals Corp.

Prospector Metals Corp. , a member of Discovery Group , 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. Prospector is led by an

experienced technical and corporate team that has a proven track record of making world-class mineral

discoveries. Prospector establishes and maintains relationships with l ocal and Indigenous

rightsholders, and seeking to develop partnerships and agreements that are mutually beneficial to all

stakeholders.

On behalf of the Board of Directors,

Prospector Metals Corp.

Dr. Rob Carpenter, Ph.D., P.Geo.

President & CEO

For further information about Prospector Metals Corp. or this news release, please visit our website at

prospectormetalscorp.com or by calling 604-354-2491 or by email at [email protected].

Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit:

discoverygroup.ca

Forward-Looking Statement Cautions:

This press release includes "forward-looking statements" including forecasts, estimates, expectations

and objectives for future operations that are subject to a number of assumptions, risks and

uncertainties, many of which are beyond the control of Prospector Metals Corp. Statements regarding

mineral exploration operations and objectives are subject to risk, including, but are not limited to,

exploration and geologic risk, inflation and costs of goods and services, property title issues and

regulatory approvals. Investors are cautioned that any such statements are not guarantees of future

performance and that actual results or developments may differ materially from those projected in the

forward-looking statements. Such forward- looking information represent s management's best

judgment based on information currently available. No forward -looking statement can be guaranteed

and actual future results may vary materially. Prospector Metals Corp. does not assume the obligation

to update any forward-looking statement, except as required by applicable law.