Mr. Alain Lambert reports

PRISMO DEVELOPS ADDITIONAL DRILL TARGETS AT SILVER KING PROVIDES UPDATE ON DRILL PERMIT

Prismo Metals Inc. has completed a detailed exploration program at the Black Diamond area of its Silver King project located in Arizona. Work consisted of mapping and sampling of the area including the Black Diamond copper replacement body and the newly encountered strongly altered felsic intrusion with stockwork veining. A hand-held XRF (X-ray fluorescence) analyzer was used to complete a soil geochemistry grid and to analyze selected rock samples in a qualitative manner. Additionally, an IP survey was recently initiated over the Silver King land package, with results expected by the first week of December.

The soil survey defined a large copper anomaly over the Black Diamond replacement body, along with some anomalous gold values. Previous rock samples have shown the copper-gold association of mineralization in replacement mineralization. The soil survey also showed zinc, lead, silver and antimony anomalies associated with the felsic intrusion. This intrusion is strongly sericitized and is cut by moderate to strong stockwork quartz veins with locally abundant iron oxides after pyrite.

XRF analysis of rock samples in the area was also completed. Although XRF analyses on rocks are generally qualitative and are not valid assays as are rock samples assayed by the geochemical laboratories, they do indicate the presence of the metals of interest and are useful as guides to mineralization.

XRF analyses of individual quartz veinlets in the stockwork hosted by the felsic intrusion locally indicate the presence of silver, lead and zinc as well as some antimony. During the exploration program, Prismo's geological team took 34 rock-chip samples over the area. These samples were submitted to the laboratory, with assay results expected in the coming weeks.

Dr. Craig Gibson, chief exploration officer of the company, stated: "These results confirm Black Diamond as a copper-gold replacement body target, as was indicated from previous work, making this area a compelling drill target. The data collected from the felsic intrusion indicated that it is mineralized, a feature that was not indicated in reports from previous work by Fischer Watt in 1980, although they considered it a prime target based on alteration mineralogy and fluid inclusion studies."

Drill permit update

Prismo also announced that the U.S. Forest Service, the federal surface land management entity for Silver King, has determined that the company's proposed drill plan meets the regulatory requirements for processing and that such plan is complete, as described in the regulations at 36 CFR 228.4(c).

The U.S. Forest Service will now proceed with the environmental analysis pursuant to 36 CFR 228(a)(5) in conformity with the National Environmental Policy Act (NEPA). This analysis will proceed as a categorical exclusion, the lowest level of environment reviews applicable to projects that are not expected to have a significant effect on the environment, such as Silver King.

Alain Lambert, chief executive officer of Prismo, stated, "We are pleased with the steady progress on the permitting front, especially given the now-resolved U.S. government shutdown."

Mr. Lambert added: "With the closing of our recent oversubscribed financing, we are fully funded for the first two phases of drilling. In phase 1, we plan a drill program at the historic Silver King mine site for about 1,000 metres. That drill plan is designed to test the upper half of the steeply dipping pipe-like Silver King mineralized body as well as potential mineralization adjacent to the dense stockwork that was the focus of historic mining."

Given the company's recent discoveries, Prismo has added a second phase of drilling for an additional 1,000 metres. This additional program will focus on the newly identified targets outside of the historic mining area, such as the polymetallic vein and the copper vein mentioned above. Drilling of the large body of replacement mineralization on the patented Black Diamond claim is also being planned and is road accessible on private ground.

Quality assurance/quality control

XRF analyses are considered to be qualitative in nature and cannot be considered to be representative of commercial assays. XRF soil analyses are useful as they indicate variations in metal contents to represent anomalies, although the actual values of the metals present are not necessarily the same as those obtained from commercial geochemical analyses. The company uses commercial standards when using the XRF analyzer.

Qualified person

Dr. Craig Gibson, PhD, CPG, a qualified person as defined by National Instrument 43-101 regulations and chief exploration officer and a director of the company, has reviewed and approved the technical disclosures in this news release. The historic data presented in this press release were obtained from public sources, should be considered incomplete and are not qualified under NI 43-101, but are believed to be accurate. The company has not verified the historical data presented and they cannot be relied upon, and they are being used solely to aid in exploration plans. References to mineralization at the Magma mine and Resolution copper deposit are not necessarily indicative to the mineralization on the Silver King property.

About the Silver King project

Discovered in 1875, the Silver King mine was one of Arizona's most important historic producers, yielding nearly six million ounces of silver at grades of up to 61 ounces per ton. The Silver King mine sits only three kilometres from the main shaft of the Resolution copper project -- a joint venture between Rio Tinto and BHP and one of the world's largest unmined copper deposits with an estimated copper resource of 1,787 million metric tonnes at an average grade of 1.5 per cent copper. The unique land position is fully surrounded by Resolution Copper's claim block, offering strategic upside. 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), indicating that high-grade mineralization remains.

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.

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