Dr. Craig Gibson reports

PRISMO METALS ZTEM SURVEY IDENTIFIES PRIORITY DRILL TARGET AT THE HOT BRECCIA COPPER PROJECT IN ARIZONA

The heliborne ZTEM (Z-axis tipper electromagnetic) geophysical survey undertaken at Prismo Metals Inc.'s Hot Breccia copper project in Arizona has identified a priority drill target. Hot Breccia is located in the heart of the prolific Arizona copper belt between Tucson and Phoenix

The ZTEM survey identified a large conductive body at depth below the surface exposure of a large dike swarm that hosts the namesake breccias. Anomalous copper and gold assays are locally present at the surface in this area (see press release of July 11, 2023), and high-grade copper and zinc assays are present above this anomaly in historic drill holes completed by major copper producers in the 1970s and early 1980s (see press release of Jan. 29, 2023).

While all of the historic drill holes intersected hydrothermal alteration within the volcanic rocks that overlie the typically better mineralized Paleozoic carbonate rocks with increasing alteration intensity downward, no historic drilling targeted this newly identified conductive zone identified in Prismo's ZTEM survey. The carbonate host units above the anomaly have several copper intercepts reported to exceed 1 per cent copper and elevated zinc levels.

Dr. Craig Gibson, president and chief executive officer, commented: "The ZTEM survey conducted in 2023 has identified a priority conductive anomaly at depth that appears to be related to a dike swarm with associated polymictic breccia. We are looking forward to drilling this target which has characteristics that are similar to the mineralized copper and base metal deposits at the adjacent Christmas mine, an important historic producer and location of an unmined porphyry copper deposit owned by Freeport. The project is also located along the trend of several very large porphyry copper deposits, including Resolution, 40 kilometres to the north, and San Manuel/Kalamazoo 35 km to the south."

Preparation of a permit to allow drilling at Hot Breccia began in 2023 with a required cultural survey. It is anticipated that the permit will be in hand in Q1 2024. Sampling at the project has shown the presence of copper and gold mineralization associated with polymictic breccia that has brought fragments of sedimentary rocks and mineralization to the surface from depths believed to be 400 to 800 metres below the surface, so drilling of deep holes, possibly including a twin of a historic hole, is planned.

Gold mineralization ranging from anomalous values of 0.1 to 0.3 gram per tonne to 28 g/t with local copper has also been encountered at the surface associated with dikes (see news release of July 11, 2023). Drilling with shallow angled holes is also envisioned.

Assay results from historic drill holes are unverified as the core has been destroyed, but information has been gathered from memos, photos and drill logs that contain some, but not all, of the assay results and descriptions.

Qualified person

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 Hot Breccia

The Hot Breccia property consists of 1,420 hectares covering 227 contiguous mining claims located in the world-class Arizona copper belt. The project lies about four kilometres from the historic Christmas mine which recorded production of about 481.6 million pounds of copper from 20.2 million tons at a grade of 1.2 per cent copper plus significant gold and silver. Prismo has not been able to verify the Christmas production information and it is not necessarily indicative of the mineralization on the Hot Breccia property.

Prismo holds the option to earn up to a 75-per-cent interest in the project from Infinitum Copper Corp., subject to a 2-per-cent net smelter return royalty to a private company, Walnut Mines LLC.

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.