Mr. Dan James reports

PROSPECTIVA IDENTIFIES MULTIPLE GEOPHYSICAL TARGETS AT SAO FRANCISCO

Prospectiva Resources Ltd. has released encouraging results from its continuing geophysical programs across the broader Sao Francisco copper-gold project, where the company is currently undertaking a phase 1 diamond drill program at SF1.

Recent surface and downhole electromagnetic surveys have identified additional conductive targets, interpreted to be associated with massive and semi-massive sulphide mineralization. These results support the company's continuing drilling program and will guide future exploration at Sao Francisco.

Highlights:

• New strong off-hole conductor identified at the SF1 zone: Downhole electromagnetic surveying of drill hole SF-26-006 identified a strong conductor. Modelling suggests that the conductive source may extend beyond the current drill hole, providing an additional target for follow-up drilling.
• Additional conductors identified across SF1 zone: DHEM surveys completed in drill holes SF-26-002, SF-26-005 and SF-26-007 have identified further strong conductive responses, which could represent new or potential extensions of the current target zone.
• New, untested targets identified at SF11: Fixed-loop electromagnetic surveying has identified two modelled conductive targets approximately 120 metres and 420 metres from the historically drilled area at SF11, a polymetallic copper-lead-zinc-gold prospect located approximately 10 kilometres from the Sao Francisco.
• Additional conductors identified: DHEM surveys completed in drill holes SF-26-002, SF-26-005 and SF-26-007 have identified further strong conductive responses, which could represent new or potential extensions of the current target zone.

Dan James, chief executive officer of Prospectiva, commented: "These latest geophysical results are very encouraging, especially the exceptionally strong conductive responses adjacent to massive sulphide mineralization. This reinforces the exploration potential around our current drill program and validates our exploration approach. Our recently announced drill results, including 7.15 m at 4.78 per cent Cu and 0.19 g/t Au from hole SF-26-003, show a positive association between sulphide mineralization and electromagnetic responses, aligning our latest geophysical results with the model for mineralization.

"Our initial electromagnetic surveys guided the drilling program, and the subsequent infill surveys, downhole geophysics and geological observations are helping us build an increasingly detailed picture of the Sao Francisco copper mineralized system.

"At the SF11 target, the identification of previously untested conductive targets provides further exploration opportunities across the broader Sao Francisco project area. With two drill rigs currently active, we remain focused on completing the phase 1 drilling program and incorporating these latest results into our next phase of work."

Detailed information

Sao Francisco -- integrated geophysical results

Prospectiva's initial FLEM survey, completed in March and April, 2026, identified a series of conductive targets that were subsequently incorporated into the company's current diamond drilling program.

Additional infill FLEM surveying has since identified a new conductive response showing strong spatial overlap with the original geophysical models. These results provide further information to refine the interpretation of conductive targets within the Sao Francisco project area.

Downhole electromagnetic results

DHEM surveys measure electrical responses from conductive materials surrounding a drill hole. Conductance, expressed in Siemens, describes how readily a modelled conductive body allows electrical current to flow. Strongly conductive sulphide mineralization can produce high conductance values, making DHEM a useful tool for identifying potential exploration targets beyond existing drilling.

DHEM surveying of drill hole SF-26-006 identified a strong conductive response at approximately 100 m downhole, together with an offhole response. Geophysical modelling identified two closely spaced conductor models, with conductances approaching 5,000 S and exceeding 8,000 S, respectively. The greater-than-8,000-Siemens model represents a significant high-conductance response and highlights a potential conductive extension beyond the existing drill hole.

The models have similar orientations and suggest that the drill hole intersected near the edge of the conductive source. These responses may represent a single complex conductor or closely spaced conductive bodies, highlighting potential extensions that warrant further exploration. Additional DHEM surveys completed in SF-26-002, SF-26-005 and SF-26-007 identified further conductive responses, providing information to refine the interpretation of the distribution and geometry of conductive bodies within the Sao Francisco mineralized system.

SF11 -- new electromagnetic targets identified

The SF11 prospect is located approximately 10 kilometres from the main Sao Francisco drilling area (SF1) and comprises a steeply dipping to subvertical exposure of polymetallic copper-lead-zinc-gold mineralization hosted within metamorphosed schists. The prospect exhibits geochemical characteristics comparable with those observed at SF1, highlighting its potential as an additional exploration target.

Historical exploration by Yamana included two diamond drill holes that tested SF11 at relatively shallow depths of approximately 40 metres below surface. Recent FLEM surveying has identified two modelled conductive plates located approximately 120 metres and 420 metres from the historically drilled area. These represent new geophysical targets that have not been directly tested by the historical drilling.

Geophysical surveying, interpretation and quality assurance

The fixed loop electromagnetic and downhole electromagnetic surveys were undertaken by specialist geophysical contractors, with the resulting data sets independently interpreted and modelled by Southern Geoscience Consultants, an Australia-based geophysical consultancy.

SGC's interpretation included the assessment of recorded electromagnetic responses and the development of conductive plate models to estimate the location, geometry, orientation and conductance of identified conductive bodies.

The modelled conductors have been integrated with geological observations, drill hole information and the company's evolving 3-D geological model to support exploration targeting. The interpretations are subject to uncertainties associated with survey geometry, data quality and the non-unique nature of electromagnetic modelling. Modelled conductors do not necessarily represent sulphide mineralization, and their geological significance requires verification through drilling and other exploration methods.

Qualified person

The scientific and technical information contained in this press release has been reviewed and approved by Robert Selwyn, MGeol, CGeol, FGS, a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Robert Selwyn is chief geologist and a non-independent consultant to Prospectiva.

As part of the data verification process, the qualified person reviewed the geophysical interpretations and conductor plate models provided by Southern Geoscience Consultants. The modelled conductors were imported into the company's 3-D geological modelling environment and assessed against drill hole locations, geological interpretations and observed sulphide mineralization. This review focused on the spatial relationships between modelled conductive sources and known mineralization, their consistency with the evolving geological model, and their implications for future exploration targeting.

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