Mr. Peter Bernier reports

PROSPER GOLD REFINES TARGET AT CYPRUS

Prosper Gold Corp. has provided an update on its winter exploration activities at the Cyprus project. The company completed 1,602 metres of drilling and 16 line kilometres of induced polarization (IP) surveying at target A in February and March of 2025. The Cyprus project is a district-scale porphyry copper-gold project with several historically defined copper-plus-or-minus-gold-porphyry prospects and significant historical drill results, including 138.2 metres at 0.55 per cent copper.

Highlights:

• Three holes totalling 1,602 metres of diamond drilling were completed at target A;
• All holes intersected quartz-sericite-pyrite (phyllic) alteration, porphyritic intrusions, hydrothermal breccias and intermittent pyrite mineralization;
• Subsequent 16-line-kilometre IP survey outlines 2.0-by-1.2-kilometre high-chargeability anomaly 1.2 kilometres to the southwest of nearest drill hole;
• Follow-up drilling planned for summer, 2025, targeting high-chargeability anomaly.

"The maiden drill program at Cyprus was designed to target coincident magnetic and conductivity anomalies outlined from our 2024 property-wide ZTEM survey," commented Peter Bernier, chief executive officer. "The drill core and the recent IP results indicate that we drilled the margin of a hydrothermal system. We are very excited that the next phase of drilling will utilize all the data we have acquired to more effectively target this covered porphyry system."

Initial drilling at target A targeted coincident magnetic low and conductivity high anomalies outlined in the company's summer, 2024, ZTEM (z-axis tipper electromagnetic) airborne survey. Three drill holes totalling 1,602 metres were designed to test a two-by-three-kilometre coincident magnetic low/conductivity high.

Following the maiden drill program, a deep-penetrating IP survey was designed to outline the distribution of disseminated sulphides within the hydrothermal system. IP results, along with alteration, lithology and pyrite mineralization observed in drill core, suggest the northeastern margin of the system was drilled. The survey results indicated the vast majority of disseminated sulphides occur 1.2 kilometres to the southwest of the nearest drill hole (DD25CYP002).

The three holes intersected variable amounts of quartz-sericite-pyrite (phyllic) alteration spatially associated with porphyritic intrusions. The presence of hydrothermal breccias, fracture-fill and disseminated pyrite mineralization and sericitic alteration suggest the drill holes intersected the periphery of a hydrothermal magmatic system that has the potential to host a porphyry copper deposit. Follow-up drilling is scheduled to commence in early summer, 2025.

About the Cyprus project

The road-accessible Cyprus project is situated in north-central British Columbia, Canada. The 623-square-kilometre project includes the historical Kaza and Northstar copper prospects (see the company's Feb. 20, 2024, and Feb. 26, 2024, news releases for details) and represents a district-scale copper-gold porphyry exploration project. At the historical Kaza copper-gold prospect, soil samples up to 5.09 grams per tonne (g/t) gold and 10,000 parts per million (ppm) copper, and surface rock chip samples from 1973, including 0.88 per cent copper, 15.4 g/t gold and 120 g/t silver over 4.0 metres, coincide with a 2,000-by-600-metre area of high IP chargeability and low magnetic response. The presence of sparse feldspar porphyry dikes and the sulphide assemblages present at surface suggest copper-gold porphyry mineralization may improve at depth.

Copper mineralization at the Northstar prospect consists of vein-hosted and disseminated chalcocite and bornite within faulted and fractured andesite. Surface trench sampling results include 23.0 metres grading 2.1 per cent copper and historical drilling intercepts include 0.55 per cent copper over 138.2 metres. Zones of copper mineralization outlined by previous operators at the Northstar prospect are likely driven by a magmatic-hydrothermal system in the immediate vicinity.

The Big-Time prospect has not seen historical drilling despite the presence of a pronounced copper-bearing area of phyllic alteration that coincides with strong copper-molybdenum geochemistry, high IP chargeability and northeast-trending feldspar porphyry dikes.

A heliborne ZTEM geophysical survey comprising 3,760 line kilometres was completed over the entirety of the Cyprus project in the summer of 2024. Numerous porphyry-copper-plus-or-minus-gold exploration targets were outlined, including target A, which is characterized as a two-by-four-kilometre conductivity high-anomaly coincident with a two-by-three-kilometre magnetic-low anomaly proximal to a regionally mapped northwest-trending fault. Initial drilling at target A indicates the presence of a magmatic-hydrothermal system related to porphyritic intrusions.

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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