Dr. Craig Gibson reports

PRISMO METALS EXPANDS DRILL PROGRAM AT PALOS VERDES

Given the success of the current drill program, Prismo Metals Inc. plans to expand the program at the Palos Verdes property located in the Panuco district in Mexico. The new holes will be drilled from Vizsla Silver Corp. concessions adjacent to the Palos Verdes concession and will target the Palos Verdes vein at depth. A recommendation presented the Panuco joint technical committee calls for drilling of approximately 3,600 metres in 10 holes to be completed in two phases. The joint technical committee is comprised of Dr. Craig Gibson, Prismo's chief executive officer, Dr. Jesus Velador, Vizsla Silver's vice-president of exploration, and Dr. Peter Megaw.

"The Panuco joint technical committee has recommended this drill program to test the Palos Verdes vein underneath the current level of drilling. Our strategic partner, Vizsla Silver, has submitted a permit application for the drill sites as part of this expanded exploration program in the northeast portion of the Panuco district," said Alain Lambert, executive chairman of the company. "We recently received several bonanza-grade intercepts and the highest-grade intercept ever recorded from the Palos Verdes project, with a 0.5-metre sample assaying 102 g/t [grams per tonne] gold and 3,100 g/t silver (see Prismo's news release dated July 27, 2023). This expanded drilling will test under this intercept, as well as at depth in the northeastern portion of the concession, where we think the mineralization has been offset downward."

The planned drilling from Vizsla's concessions will be from approximately eight sites in two phases. The first phase will include seven holes with an average depth of about 300 metres, while the second phase will consist of three holes with an average depth of about 500 metres. The holes are designed to test the Palos Verdes vein at depth on Prismo's Palos Verdes concession, and also test for the vein extension and splits on the adjacent Vizsla ground.

"The relatively shallow bonanza-type grades reported at Palos Verdes to date suggest potential for additional high-grade mineralization at depth in veins of the northeast part of Panuco district. We are excited to proceed with the recommendation presented by the Panuco joint technical committee to expand the drilling program, because of the opportunity it gives us to increase our knowledge of the veins in this part of the district through Prismo's expanded drill program," said Michael Konnert, president and chief executive officer of Vizsla Silver. "Vizsla Silver owns a right-of-first refusal on the Palos Verdes project. We look forward to the deeper drilling results at Palos Verdes."

The company is in the process of completing a 2,500-metre drill program on the Palos Verdes project. The drill program is designed to test the areas of the Palos Verdes vein system in areas where there previously was no drill access, mainly along the northeastern extension of the vein system and certain areas in the southwestern portion where previous drilling occurred. Ten holes have been completed for a total of about 2,035 metres of HQ core drilled for the current program, with an 11th hole in progress. Assays for seven holes, PV-23-19 to PV-23-25, have been reported, and the last three completed holes have been sent to the lab. About three holes remain in the program, after which the drill crew is expected to take a two-week break.

Quality assurance/quality control

Samples taken by Prismo are analyzed by multielement ICP-AES (inductively coupled plasma atomic emission spectroscopy) and MS (mass spectrometry) methods at internationally recognized analytical service providers. Certified reference materials, including standard pulps and coarse blank material are inserted in the sample stream at regular intervals.

Dr. Gibson, PhD, CPG, a qualified person as defined by National Instrument 43-01 regulations, and president, CEO and a director of the company, has reviewed and approved the technical disclosures in this news release.

About Palos Verdes

The Palos Verdes project is located in the historic Panuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometres northeast of Mazatlan, Sinaloa, in the municipality of Concordia. The Palos Verdes concession (claim) covers 700 metres of strike length of the Palos Verdes vein, a member of the north-easterly trending vein family located in the eastern part of the district, outside of the area of modern exploration. Shallow drilling (less than 100 m) conducted in 2018 on the Palos Verdes vein was targeted 30 m to 50 m beneath largely barren vein outcrops and cut a well-mineralized multistage vein two m to seven m wide, with narrow intervals of high-grade precious metal values and subordinate base metals (see the table of intercepts at the company's website). This mineralization is open in all directions, and the currently planned drilling program is designed to follow it along strike and to depth.

About the Vizsla Silver Panuco project

The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlan. The 7,189.5-hectare, past-producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power and permits.

The district contains intermediate- to low-sulphidation epithermal silver and gold deposits related to siliceous volcanism, and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara formation.

The Panuco project hosts an estimated in situ indicated mineral resource of 104.8 million ounces (Moz) silver equivalent (AgEq) and an in situ inferred resource of 114.1 Moz AgEq. An updated National Instrument 43-101 technical report titled "Technical Report on the Mineral Resource Estimate Update for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico" was filed on SEDAR on March 10, 2023, by Vizsla Silver, with an effective date of Jan. 19, 2023, and was prepared by Allan Armitage, PhD, PGeo, Ben Eggers, MAIG, PGeo, and Yann Camus, PEng, of SGS Geological Services.

About Prismo Metals Inc.

Prismo is a mining exploration company focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).

We seek Safe Harbor.