Mr. Brian Kerzner reports

PRISM RESOURCES ANNOUNCES CLOSING OF ROYALTY SALE TO AGNICO EAGLE

Prism Resources Inc. has closed the previously announced sale of its right, title and interest in and to a 7.5-per-cent net profit interest royalty over certain properties in the Porcupine mining district of Ontario, which royalty constituted substantially all of the assets of the company, to Agnico Eagle Mines Ltd., pursuant to a royalty purchase agreement dated June 3, 2026, between the company, as seller, and Agnico, as purchaser, for total cash consideration of $5-million.

As announced in the company's news release dated July 23, 2026, the company obtained the necessary approval from its shareholders in respect of the transaction at an annual general and special meeting of shareholders held on July 23, 2026.

The company intends to use the proceeds from the sale of the royalty to finance the general working capital requirements of the company and to finance the cash portion of certain payments payable by the company, as described in greater detail in the management information circular of the company dated June 22, 2026, prepared in connection with the meeting.

For additional information on the royalty purchase agreement, the transaction and the use of proceeds from the transaction, please refer to the circular, which was filed under the company's SEDAR+ profile on June 24, 2026.

About Prism Resources Inc.

Prism Resources is a Canadian precious metal explorer and developer headquartered in Vancouver, B.C. Prism Resources is composed of a strong group of directors with significant experience and a well-established record in the resource sector globally.

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