Dr. Craig Gibson reports

PRISMO METALS CONTINUES TO INTERSECT GOLD AT LOS PAVITOS

Prismo Metals Inc. has released results for the second group of drill holes completed at Los Pavitos, a 5,300-hectare project in the well-mineralized Alamos region of southern Sonora state, Mexico. The highlight hole is LP-AU-23-01, the first hole ever drilled at Las Auras, which intersected 3.58 grams per tonne gold over 1.15 metres (core length) within a wider interval of 3.65 m (core length) with 2.33 g/t gold and 87.6 g/t silver. Adding these results to the high gold reported in the first drilling at the Mina Hedionda in the Santa Cruz zone (see press release of Oct. 17, 2023) shows that significant gold grades are being encountered across the property.

Also notable are the results for hole LP-SE-23-09 drilled on the Southeast Santa Cruz structure that also showed this gold plus silver signature, intersecting 106 g/t silver with 0.51 g/t gold over 5.27 metres (core length). The Southeast Santa Cruz structure also has a relatively silver-rich surface expression. Several of the remaining holes reported here intersected wide zones of anomalous gold mineralization, including 40.8 metres (core length) with 0.16 g/t Au in hole LP-SC-23-12.

The first stage of the drill program has now been completed with 2,370 metres of HQ core drilled in 25 holes. Assay results have been received for 17 holes, eight holes reported here and the first nine holes reported previously (see press release of Oct. 17, 2023). Assays are pending for the remaining eight holes. This program was the first ever drilling at Pavitos and was designed to determine the overall mineralization style(s) and geometry of structures defined by surface mapping and sampling in separate areas of the project, including Las Auras, Santa Cruz and Southeast Santa Cruz, and the Oromuri and La Espanola areas. Exploration work is currently advancing to develop additional new areas for drilling in several areas identified during reconnaissance work.

"We are very pleased to see continued concentrated precious metals grades in new areas, as well wider zones of dispersed gold values, which we consider positive for bulk minable mineralization potential," Dr. Craig Gibson, president and chief executive officer, commented. He continued, "The results of the first ever drill program at Los Pavitos show that gold values are widespread across the project, confirming surface geochemistry, and provide impetus to continue exploration as only about 30 per cent of the prospective part of the land package has been adequately mapped and sampled to date."

Mapping and surface sampling over the last 1.5 years have delineated several kilometre-long mineralized structures and encountered high-grade gold values in several areas with local high silver grades. Results of the initial drilling at the Santa Cruz target, followed by drill testing of the Las Auras target, have been in line with the surface sampling. The other targets, Oromuri and Espanola, have characteristics indicating that similar high-grade mineralization may exist beneath cover, and drill results are pending. The abundance of magnetic pyrrhotite-bearing sulphides at very shallow depths in the initial high-grade holes indicates that geophysics, including a drone- ased magnetic survey and potentially other geophysical methods, should help define additional drilling targets through cover. Exploration work is also advancing to develop additional new areas for drilling in several areas identified during reconnaissance work.

About Los Pavitos

The Los Pavitos project consists of a 5,289-hectare property position located in southern Sonora state, Mexico. Pavitos lies 25 km west of the well-mineralized Alamos district, which encompasses several active exploration and mining projects, including the past-producing Alamo Dorado mine of Pan American Silver, the Piedras Verdes copper mine of Cobre de Mayo, and the Alamos and Aurifero vein projects being explored by Minaurum Gold Inc. Infrastructure is excellent with paved highway access, electricity and water. The project, which was generated by geologist and Prismo Metals board member Rafael Gallardo, is believed to have potential for both the typical epithermal veins of the Alamos district and orogenic or shear-hosted gold hosted in the highly metamorphosed basement rocks that crop out sparingly below the region's extensive blanket of mid-Tertiary volcanic rocks. Los Pavitos lies along the projection of the Caborca orogenic gold belt and the fabric and style of metamorphic deformation of the basement rocks are similar to that elsewhere in the belt.

Pavitos was acquired from Minera Cascabel SA de CV, a Mexican exploration and services company founded by Dr. Peter Megaw, an adviser to the company (for terms see the company's prospectus filed on SEDAR+). The company completed a National Instrument 43-101 technical report on the project in March, 2021, available on SEDAR+. Assays have been received for 1,384 surface rock samples taken by the company (excluding control samples); a further 347 samples were taken in 25 trenches cut across the main mineralized trends.

Quality assurance/quality control

Rock samples taken by Prismo are analyzed by multielement inductively coupled plasma atomic emission spectroscopy and mass spectrometry methods and by fire assay by ALS Group and Bureau Veritas, both internationally recognized analytical service providers. Gold is analyzed as part of an ICP package using a 15- or 25-gram aqua regia digestion and is also analyzed by fire assay with an atomic absorption finish. Au overlimits (greater than 10 g/t) are analyzed by fire assay with a gravimetric finish. Ag over 100 g/t and copper, lead and zinc over 1 per cent reanalyzed by the by overrange ICP methods. Certified reference in addition to internal laboratory standards, duplicate samples, standard pulps and coarse blank material are inserted by Prismo in the sample stream at regular intervals.

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

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.