Dr. Rob Carpenter reports

PROSPECTOR APPOINTS MICHAEL ROCKANDEL AS VICE PRESIDENT, CORPORATE COMMUNICATIONS

Prospector Metals Corp. has appointed Michael Rockandel to the position of vice-president, corporate communications.

Dr. Rob Carpenter, PhD, PGeo, president, chief executive officer and co-chairman of Prospector, stated: "Michael has been an integral part of Prospector's team since joining full-time, and he is a welcome new member to Prospector's senior management team. Michael brings a hard-working and dedicated philosophy to his workday, and I am looking forward to working with him in his new role."

Prospector is currently preparing for its 25,000-metre drill program at the ML project in Yukon. Drilling contracts are in place for an anticipated start date of May 15. A board-approved budget of $15-million for 2026 is fully financed from a treasury of over $43-million.

Warrant exercise update

Prospector would also like to announce that all warrants that were due to expire on March 5 have been exercised. In total, 18,699,544 warrants have been exercised at a price of 30 cents for proceeds of $5,609,863. Significantly, many of these warrants were exercised by company insiders and advisers, demonstrating continued confidence and support in the Prospector business model.

Share incentive grant

The company announced that it granted 2.4 million deferred share units, 1.54 million restricted share units and 450,000 incentive stock options to certain directors, officers, employees and consultants of the company as part of its annual compensation review. Such grants are subject to TSX Venture Exchange approval. Each option is exercisable to purchase one common share of the company for five years at a price of $1.22 per common share. The DSUs, RSUs and options were granted in accordance with the terms of the company's omnibus incentive plan and will be subject to vesting according to the plan.

About Prospector Metals Corp.

Prospector is a proud member of Discovery Group. The company 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. The majority of acquisition activity occurs in Yukon and Ontario, Canada -- historical mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and indigenous rightsholders, and seeks to develop partnerships and agreements that are mutually beneficial to all interested parties.

We seek Safe Harbor.