Mr. Peter Bernier reports

PROSPER GOLD CORP. OUTLINES PLAN FOR UPCOMING WINTER DRILLING AT GOLDEN SIDEWALK PROJECT

Prosper Gold Corp. has outlined a plan for its coming diamond drilling program commencing in the first week of January, 2024, at the Golden Sidewalk project in the Red Lake mining district in Ontario. Up to 2,500 metres of drilling will be completed at the Skinner target area.

Skinner

The Skinner target area is a 2.5-kilometre-by-1.5-kilometre area of coincident high IP (induced polarization) chargeability and resistivity under glaciofluvial cover with numerous west-northwest-trending shear zones with anomalous down-ice gold grain-in-till samples. Preliminary drilling in this area in November, 2022, intersected broad shear zones exhibiting silica-biotite-ankerite alteration and abundant sulphide mineralization, which was locally gold bearing (see the company's Jan. 9, 2023, news release for details).

Despite glaciofluvial cover in this area, till sampling in 2021 by the company achieved results up to 1,014 gold grains (97 per cent pristine) in sample GST-21-223 and 735 gold grains (95 per cent pristine) in sample GST-21-317 (see the company's May 17, 2022, news release for details). Based on geological observations from the field and from the 2022 drilling, the company believes the area has high potential for higher-grade gold mineralization, particularly proximal to the contact between Narrow Lake assemblage volcanics and the Trout Lake batholith several hundred metres to the west of the 2022 drilling, where hornfelsed volcanics are more conducive to brittle fracture. The company will drill several discrete targets associated with favourable geophysical signatures, highly anomalous till samples and/or historically defined mineralized shear zones.

About the Golden Sidewalk

The Golden Sidewalk is a 100-per-cent-owned, district-scale gold exploration project covering over 160 square kilometres of contiguous mineral claims and mining leases in the western Birch-Uchi greenstone belt, approximately 60 kilometres east of Red Lake, Ont., and 60 kilometres northeast of Kinross Gold's Dixie project, acquired from Great Bear Resources in 2022. The vehicle-accessible project straddles 12 kilometres of the Balmer assemblage/Narrow Lake assemblage unconformity, a regional-scale feature that has been the Red Lake exploration guide but which has seen limited exploration in the project area. The Golden corridor lies immediately north of the unconformity and is characterized as a highly prospective trend of coincident favourable magnetic and resistivity lineaments supported by highly anomalous gold-in-till samples covering 7.0 kilometres by 0.5 kilometre. An additional highly prospective target area was defined in 2021, termed the Skinner North target area (where 2022 channel sampling results include 9.69 grams per tonne gold over 3.0 metres and 13.13 grams per tonne gold over 1.8 metres and till samples containing up to 1,014 gold grains), was drilled for the first time in November, 2022. Historical drilling by previous operators at the Bathurst mine, the Joe vein, the KT vein, and the Dunkin and Vihonen prospects reported high-grade gold intercepts, which have yet to be followed up by Prosper Gold.

Qualified person

The scientific and technical information in this news release has been reviewed by Rory Ritchie, PGeo, vice-president of exploration for Prosper Gold and a qualified person under National Instrument 43-101.

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