Mr. Daniel Kunz reports

PRIME MINING APPOINTS CHANTAL GOSSELIN TO THE BOARD OF DIRECTORS

Prime Mining Corp. has appointed Chantal Gosselin to the board of directors effective March 29, 2022. The size of the company's board will increase to eight members, six of whom are independent.

Ms. Gosselin is an experienced corporate board member with 30 years experience in mining operations and capital markets. Her involvement in the financial markets ranges from asset management to sell-side analyst. Ms. Gosselin recently held positions as vice-president and portfolio manager at Goodman Investment Counsel and senior mining analyst at Sun Valley Gold LLP, along with various analyst positions earlier in her career with Genuity Capital, Haywood Securities Inc. and Dundee Securities Corp. Ms. Gosselin also held various mine-site management positions in Canada, Peru and Nicaragua, giving her first-hand experience in underground and open-pit mine development and production in diverse cultural and social environments.

Ms. Gosselin has a master of business administration from Concordia University and a bachelor of science (mining engineering) from Laval University and has completed the Institute of Corporate Directors (ICD) director education program. She currently serves on the boards of Lundin Gold Inc., Wheaton Precious Metals Corp. and Ero Copper Corp.

"It gives me great pleasure to welcome Chantal to our board," stated Daniel Kunz, Prime Mining chief executive officer. "Chantal is a well-respected mining executive who brings many strengths to the company, including capital markets, mining experience and board independence."

The company has granted Ms. Gosselin incentive stock options to acquire up to 400,000 common shares at a price of $3.53 for a five-year period. The options shall vest and become exercisable over a 12-month period, with one-third of the options vesting on the date of grant, and a further third vesting every six months thereafter.

Los Reyes gold and silver project

Los Reyes is a rapidly evolving high-grade, low-sulphidation epithermal gold-silver project located in Sinaloa, Mexico, within the prolific Sierra Madre mining region. Historic operating results indicate that an estimated one million ounces of gold and 60 million ounces of silver were recovered from five separate operations at Los Reyes between 1770 and 1990. Prior to Prime's acquisition, recent operators of Los Reyes had spent approximately $20-million (U.S.) on exploration, engineering and prefeasibility studies. The project remains underexplored as only 40 per cent of the known structures have been systematically drilled, leaving 10 kilometres of untested strike length. Los Reyes holds potential for additional discovery and resource expansion.

Prime Mining acquired Los Reyes is 2019, completed initial data compilation, field mapping and trenching in 2020, and in 2021, executed a phase 1 exploration program that included 25,650 metres of drilling. Results suggest the deposits are much larger than previously reported and potential exists for new discoveries outside of current defined resources. The company is currently undertaking a 50,000-metre phase 2 exploration program.

About Prime Mining Corp.

Prime Mining is an ideal mix of successful mining executives, strong capital markets personnel and experienced local operators focused on unlocking the full potential of the high-grade Los Reyes gold-silver project in Mexico. Prime Mining has a well-planned capital structure with significant team and insider ownership.

We seek Safe Harbor.