Mr. Brian Kerzner reports

PRISM RESOURCES MAILS MEETING MATERIALS FOR ANNUAL GENERAL AND SPECIAL MEETING IN CONNECTION WITH PREVIOUSLY ANNOUNCED ROYALTY PURCHASE AGREEMENT WITH AGNICO EAGLE

Prism Resources Inc. has mailed its management information circular and related proxy materials to holders of common shares of Prism in connection with the annual general and special meeting of shareholders to be held at 10 a.m. Vancouver time on July 23, 2026. The meeting materials are being mailed to shareholders of record as of the close of business on June 12, 2026.

At the meeting, shareholders will be asked to consider, and if deemed advisable, approve, among other things, the company's 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 constitutes substantially all of the assets of the company, to Agnico Eagle Mines Ltd., pursuant to the royalty purchase agreement dated June 3, 2026, between the company, as seller, and Agnico, as purchaser, for total cash consideration of $5-million.

The circular contains, among other things, details concerning the transaction, the establishment of a special committee by the board of directors of the company, the background to and reasons for the favourable recommendation by the special committee of the transaction, a summary of the independent valuation report prepared by Evans & Evans Inc. in connection with the transaction, the requirements for the transaction to become effective, procedures for voting at the meeting, and other related matters, including standard annual general meeting matters. Shareholders are urged to carefully review the circular and accompanying meeting materials as they contain important information regarding the transaction and its consequences to shareholders.

Copies of the circular and related meeting materials are available under the company's SEDAR+ profile. Additional information on the transaction can also be found in the company's news release issued on June 4, 2026.

Your vote is important. Vote today.

The board, acting on the recommendation of the special committee, recommends that shareholders vote for the transaction.

How to vote

A proxy form or voting instruction form will be included in the meeting materials you receive by mail. Instructions on how to vote, which vary depending on whether you are a registered shareholder or a non-registered (beneficial) shareholder, are provided in the circular and in the other meeting materials.

Registered shareholders

You are a registered shareholder if your Prism shares are held in your name or if you have a certificate or DRS statement for Prism shares. If you are a registered shareholder as of the record date, you can vote by attending the meeting in person or by submitting your proxy in accordance with the instructions set out therein:

• Mail: Mail the proxy to Computershare Investor Services Inc. at eighth floor, 100 University Ave., Toronto, Ont., M5J 2Y1, by 10 a.m. Vancouver time on July 21, 2026, or, if the meeting is adjourned or postponed, at least 48 hours (excluding weekends and holidays) before time that the meeting is reconvened.
• Hand delivery: Return the proxy to Computershare at third floor, 510 Burrard St., Vancouver, B.C., V6C 3B9, by 10 a.m. Vancouver time on July 21, 2026, or, if the meeting is adjourned or postponed, at least 48 hours (excluding weekends and holidays) before the time that the meeting is reconvened.
• Phone: Vote using a touch-tone phone to transmit voting choices to a toll-free number given in the proxy using the 15-digit control number located on your proxy.
• Internet: Vote on-line at the Investor Vote website using the 15-digit control number located on your proxy.

Voting by proxy will not prevent you from voting in person should you attend the meeting and revoke your proxy. However, submitting your proxy in advance ensures your vote is counted if you are unable to attend.

To appoint a proxyholder other than those named in the form of proxy, insert the name of your chosen proxyholder in the space provided. Your proxyholder need not be a shareholder.

You may provide voting instructions by marking the appropriate boxes on the form of proxy. If you do not indicate a preference, the named proxyholders will vote for the transaction unless instructed otherwise. Proxies also confer discretionary authority on other business that may properly come before the meeting.

You may revoke a submitted proxy by:

• Submitting a later-dated proxy or notice of revocation to Computershare as noted above;
• Attending the meeting and voting in person;
• Or any other manner provided by law.

Your proxy will only be revoked if a revocation is received by 5 p.m. Vancouver time on the last business day before the day of the meeting or if you attend the meeting and vote in person.

Beneficial shareholders

If you hold Prism shares through a broker, bank or other intermediary, you are considered a beneficial shareholder. Your Prism shares are likely registered under the name of your intermediary or its nominee.

You will receive a voting instruction form (VIF) instead of a form of proxy. Follow the instructions provided by your intermediary or Broadridge Financial Solutions Inc., which manages voting for many brokers in Canada and the United States.

If you wish to appoint a proxyholder (including yourself) to vote your Prism shares at the meeting, write that person's name in the space provided on the VIF and return the form to Broadridge in accordance with the provided instructions (by mail, phone, fax or on-line). VIFs must be returned well in advance of the meeting to ensure your Prism shares are voted or represented by a proxyholder.

Shareholder questions

Shareholders who would like additional copies, without charge, of the circular or have additional questions about the transaction, including the procedures for voting, should contact their broker or the company's chief financial officer, Scott Ross, at sross@prismresourcesinc.com.

About Prism Resources Inc.

Prism Resources is a Canadian precious metals explorer and developer headquartered in Vancouver, B.C. Prism Resources comprises a strong group of directors with significant experience and a well-established record in the resources sector globally. The company currently holds a 7.5-per-cent net profit interest on Agnico's Aurora and Sunday Lake properties.

We seek Safe Harbor.