Mr. Peter Bernier reports

PROSPER MOBILIZES CREWS FOR ADDITIONAL DRILLING AT CYPRUS

Field crews have been mobilized and preparations are being made to facilitate upcoming diamond drilling activities at Prosper Gold Corp.'s Cyprus project. Drilling will follow up on results of the ground-based induced polarization (IP) survey completed at Target A in March, 2025.

"Our first three holes drilled at this newly identified target confirmed the presence of porphyritic intrusions and quartz-sericite-pyrite alteration," commented Peter Bernier, chief executive officer. "Results from the March, 2025, ground IP survey have revealed a 2,600-by-800-metre area of higher chargeability roughly one kilometre to the southwest. We will be testing this highly chargeable portion of the system in this next round of drilling."

Initial drilling tested a two-by-three-kilometre coincident magnetic low/conductivity high anomaly outlined in the company's summer 2024 ZTEM (z-axis tipper electromagnetic) airborne survey. Three drill holes totalling 1,602 metres 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.

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 suggest the majority of disseminated sulphides occur 1.2 kilometres to the southwest of the nearest drill hole.

The upcoming diamond drilling program, scheduled to commence in early June, will test a pronounced IP chargeability high that coincides with a resistivity high in the immediate hangingwall of a regional northwest-trending fault. The geophysical interpretation of the IP results suggests the potential for a body of sulphides associated with intrusive rock and/or potassic alteration potentially associated with the high temperature portion of a porphyry system.

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 gold and 10,000 parts per million (ppm) copper and surface rock chip samples from 1973 including 0.88 per cent copper, 15.4 gpt gold and 120 gpt 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 includes 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 (z-axis tipper electromagnetic) 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.

We seek Safe Harbor.