Mr. Alain Lambert reports

PRISMO METALS LAYS OUT PLAN FOR SILVER KING

Prismo Metals Inc. has completed its 2026 surface reconnaissance program at the Silver King project in the Pioneer mining district near Superior, Ariz. Carried out in stages since April and previously reported in part (see news releases dated May 12 and July 15, 2026), the program combined district-scale alteration mapping, 90 rock-chip samples, induced polarization geophysics and the results of phase 1 drilling into a single geological model.

Highlights of the completed reconnaissance program:

• Alteration system now measures approximately 2.1 by 2.4 kilometres, enlarged and refined by the recent fieldwork and remaining open beneath postmineral volcanic cover to the east;
• Potassic alteration more than doubled in area, measuring 650 metres by 300 metres centred on an outcropping quartz diorite; newly visited dumps at the No Name and Crater shafts contain blocks mined from depth showing pervasive disseminated pyrite, magnetite and secondary biotite replacing mafic minerals;
• Porphyry-style B quartz veinlets identified with chalcopyrite-magnetite centre lines and thin feldspar selvages, cutting earlier A veins; the presence and crosscutting relationship of the two vein types is evidence of a volatile-rich, multiphase mineralized system at depth;
• Phyllic alteration mapped across roughly 1.3 by 1.8 kilometres, overprinting the central potassic and outer propylitic zones at the Bilk shaft, between Silver King and Wheel, and at a newly identified location 250 metres to the southeast; phyllic overprinting potassic is an indicator of potentially augmented grades;
• Pyrite halo significantly expanded and better defined, measuring approximately two by 1.2 kilometres, offset by a fault to the north and continuing beneath volcanic cover to the east, so that its full extent cannot yet be determined;
• Classic peripheral zoning confirmed -- a propylitic zone extending outward beyond the pyrite halo, peripheral manganese occurrences and copper-gold-magnetite skarns at Black Diamond and around the Crown zone;
• Multiple hydrothermal and phreatic breccias mapped, including the Silverado Wash breccia carrying a 12-centimetre fragment of intensely phyllic-altered granite -- a rock type not exposed anywhere on the property -- and the Crown zone, interpreted as at least partly a phreatic breccia, anomalous in gold and molybdenum with magnetite skarns on its fringes;
• 90 rock samples collected to date, together with 27 green-rock samples submitted for mineral chemistry study; the reconnaissance results integrate with phase 1 drilling (eight holes, 1,272 metres), in which hole SK-26-07 intersected potassic alteration with disseminated pyrite and chalcopyrite at depth, and with induced polarization geophysics showing increasing sulphide response with depth.

Next steps

Prismo has concluded the field reconnaissance phase at Silver King. Four sequential work programs will determine where the company drills a deep porphyry test.

1. Assay results from the final surface samples

Assays from a further 23 surface rock samples are expected shortly. These will complete the geochemical coverage of the mapped system and will be integrated with the existing 90-sample data set to refine the district-scale metal zoning patterns already observed.

2. Green rock mineral chemistry study

Twenty-seven green-rock samples are being evaluated by Dr. Jamie Wilkinson in conjunction with the Natural History Museum in London. Mineral chemistry of propylitic minerals is a published technique for estimating distance and direction to a porphyry centre and is intended to provide an independent vector toward the centre of the system. Results are expected shortly.

3. Magnetotelluric (MT) survey

Discussions are under way to engage a geophysical contractor to complete an MT survey across the property. The induced polarization survey completed prior to phase 1 drilling penetrated to approximately 225 metres; an MT survey would model the buried sulphide system to substantially greater depth, which is necessary given the muted surface expression of the system.

4. Deep drill testing

No deep porphyry drilling has been carried out on the property in modern times. The company intends to design a deep drill program to test the postulated porphyry target directly upon completion of the work described above.

Alain Lambert, president and chief executive officer, commented: "We began this program with a drill intercept and a hypothesis. We end it with a mapped alteration system more than two kilometres across, zoned in the pattern that develops above porphyry copper deposits and sitting 3.4 kilometres from Resolution."

He added: "What I find most compelling is not any single result but the convergence: The mapping, the surface geochemistry, the induced polarization response and the deep intercept in SK-26-07 are all pointing in the same direction. The surface expression is muted, which tells us the target is deep -- and depth is precisely why this ground has been overlooked for a century and a half. Our task now is to further refine the geometry of the system before selecting drill sites, and that is what the green-rock mineral chemistry work with Dr. Wilkinson and a deeper-penetrating geophysical survey are designed to deliver."

Dr. Linus Keating, CPG, a special adviser to Prismo, stated: "The evolving picture of zonation and mineralization at Silver King is an exciting development. Although the project fits in some ways into the classic Lowell & Guilbert model, Silver King is unique unto itself and may well provide some great surprises as the plan of attack is implemented."

Plan of attack

Assays from an additional 23 surface samples are expected shortly. To further evaluate the zoning and potential of the Silver King system, 27 green-rock samples were collected and are currently being evaluated by Dr. Wilkinson (see news release dated June 9, 2026) in conjunction with the Natural History Museum in London. Results are expected shortly.

Evaluation of the project will continue using the awaited geochemical samples and green-rock study results. Discussions are under way to engage a geophysical contractor to conduct an MT survey across the property that should give the company much deeper modelling of the buried sulphide system than is currently possible.

Dr. Craig Gibson, chief exploration officer of the company, stated: "No deep porphyry drilling has been carried out on the property in modern times. The geological model, along with the upcoming analyses, will allow us to select drill sites to best explore the deeper porphyry potential."

Technical discussion

Strong evidence points toward a hidden porphyry copper system at Silver King

Building on the case for a porphyry-copper-style target at Silver King, field reconnaissance recently completed has enlarged and refined alteration zoning, controlling basement structures and surface mineralization. Silver King's exposed alteration now measures 2.1 by 2.4 kilometres, with significant additional extent likely hidden beneath postmineral volcanic cover to the east.

The extent of potassic alteration, an important central feature of the classic porphyry model, previously identified from dump material at the Bilk shaft and the Stone Wall shaft and in SK-07 drill hole, has more than doubled in area. Adding to this zone, the newly visited No Name and Crater shaft dumps exhibit blocks (that were mined from depth) of strongly altered Laramide quartz diorite with pervasive disseminated pyrite, magnetite, secondary biotite replacing mafic minerals, patches of sericite and important veining.

Prismo previously indicated that it was finding potassic indicators at Silver King. Particularly exciting is that field reconnaissance has now confirmed a region of potassic zoning and other features that crudely fit the classic Lowell & Guilbert model. The model posits that copper-bearing orebodies that typically occupy a shell-like zone straddling the boundary between the potassic and phyllic alteration zones, surrounded on the outside by lower-temperature propylitic alteration. Termed porphyry copper deposits, these orebodies can be very large, generally containing from 100 million to several billion tonnes of copper ore.

Augmenting the potassic region described above and roughly concentric about it, recent mapping has identified patches of a phyllic zone overprinting the central potassic and outer propylitic zones. Stretching across an area of roughly 1.3 by 1.8 km, typical phyllic patches appear particularly at the Bilk shaft, between Silver King and Wheel (the historic glory hole area), and at a new location 250 metres to the southeast (sample No. 544659).

The presence of phyllic alteration overprinting potassic is an important indicator of potentially augmented ore grades. Associated with the intrusive system's gradual collapse after reaching its highest levels, phyllic alteration occurs when the formerly rising magma fluids begin to mix with groundwater, resulting in major chemical changes, sometimes depositing significant copper and other metals. Phyllic-associated minerals such as white micas (sericite) quartz, and pyrite are deposited replacing previously deposited potassic and propyllitic minerals.

A pyrite halo at Silver King, described in previous releases, has been significantly expanded and better defined by the recent mapping. So named because it creates a large footprint around the entire porphyry system, such halos help to identify the maximum outer reach of intrusive-derived fluids. Measuring two by 1.2 km, the halo appears to be offset by a fault on the northern side and disappears under volcanic cover to the east, remaining open in those areas so that its full extent cannot yet be determined.

The outer, cooler, fringes of porphyry systems often exhibit key alteration features; recent mapping at Silver King confirms these are present. A propylitic zone has been defined that extends from the interior of Silver King alteration outward beyond the pyrite halo. Propylitic alteration, composed of green minerals such as chlorite, epidote, calcite, actinolite and minor feldspar, is usually preserved on the outer lowest-temperature extent of intrusive systems. Manganese in porphyry systems often occurs in peripheral zones because it has been removed by the central magmatic fluids of the intrusive system and redeposited on its outer colder fringes.

Additionally, research shows that, during the 1940s, manganese was commercially produced from mines along the southwestern edge of the Silver King system (Magma Chief and Baltimore mines). Skarns containing significant manganese (also magnetite, some copper and gold) occur around the eastern and southeastern edges of the Silver King system particularly at Black Diamond and around the Crown zone.

This is partially due to the presence of amenable carbonate rocks located there but may also be an additional indicator that a robust metal-bearing system is nearby. Both the extent of manganese and skarns cannot fully be determined as they likely continue beneath postmineral volcanics to the east and southeast. The high-grade epithermal silver plus or minus copper, lead, zinc veins encountered by Prismo's recent drilling around the Silver King shaft may well be due to late, lower-temperature fluids emitted during the waning stages of a mineralized porphyry, further indicative that a productive system is present.

Hydrothermal and phreatic breccias present around the Silver King system are further important indicators of porphyry activity at depth. On the western and northern sides of the property these breccias contain matrix supported, rounded polylithologic fragments; matrix and fragments are cut by aplite dikelets.

In Silverado Wash to the north, the breccia contains large, milled fragments with high pyrite content, a fine-grained chlorite-silica matrix and a 12-centimetre fragment of intensely phyllic altered granite, a rock type not present anywhere on the surface. To the south, breccia occurrences lack the aplite fingers and are more monolithologic but often contain sericitized matrix. Most interesting is the Crown zone on the northeastern side of the project. Crown is at least partially a phreatic breccia that displays small volcanic-style quartz eyes on its fringes, is locally intense quartz veining, is highly anomalous in both gold and molybdenum, and hosts magnetite skarns around its fringes.

Taken together, potassic, phyllic and propylitic alteration all crudely concentrically zoned within a larger pyrite halo and surrounded by typical fringe alteration of manganese and skarns is good evidence that a porphyry copper system is present at depth. Surface rock geochemistry also shows high copper concentrations nearer to the potassic centre of the system.

It is suspected that the size and positioning of the various alteration zones are indicative that the mineralized system is only partially exposed at surface elevations. A small-footprint, vertically extensive system, potentially enriched to high grades, is envisioned. It is possible that at moderate depths this system could coalesce, enlarge and become more coherent. Copper (and likely molybdenum and gold grades) may also become more prominent.

Corporate transactions

Prismo also announces that it has closed the debt-settlement transaction announced in its Sept. 11, 2026, news release.

Qualified person

Dr. Craig Gibson, PhD, CPG, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and chief exploration officer and a director of the company, has reviewed and approved the technical disclosures in this news release.

The historical data presented in this news release were obtained from public sources and should be considered incomplete. The historical information is not compliant with NI 43-101, has not been independently verified by the company and should not be relied upon. The company is using the historical information solely as a guide to assist exploration planning.

References to mineralization at the Magma mine, the Resolution deposit or other nearby properties are not necessarily indicative of mineralization on the Silver King project.

About Silver King

Discovered in 1875, the Silver King mine was one of Arizona's important historic silver producers, reportedly yielding nearly six million ounces of silver at grades of up to 61 ounces per ton. The Silver King mine is located approximately three kilometres from the main shaft of the Resolution copper project, a joint venture between Rio Tinto and BHP and believed to be one of the world's largest undeveloped copper deposits.

The Silver King land position is surrounded by Resolution Copper's claim block. Selected samples from small-scale production in the late 1990s returned grades as high as 644 ounces per ton silver (18,250 grams per tonne) and 0.53 ounce per ton gold (15 grams per tonne). These historical figures and selected sample results have not been verified by the company and should not be considered representative of mineralization on the Silver King project.

About Prismo Metals Inc.

Prismo is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

We seek Safe Harbor.