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Prismo Metals Inc
Symbol PRIZ
Shares Issued 115,163,316
Close 2026-09-09 C$ 0.06
Market Cap C$ 6,909,799
Recent Sedar+ Documents

Prismo Metals talks up CSE listing of investee Blade

2026-09-11 14:15 ET - News Release

Mr. Alain Lambert reports

PRISMO METALS ANNOUNCES LISTING OF BLADE RESOURCES ON THE CSE PRISMO METALS OWNS 6,755,000 SHARES OF BLADE RESOURCES

Blade Resources Inc. has received final approval from the Canadian Securities Exchange to list its common shares on the CSE. In support of the listing, Blade Resources prepared a listing statement, a copy of which is available on SEDAR+ under the Blade Resources issuer profile on SEDAR+. The Blade shares are expected to commence trading on the CSE at market open on or about Sept. 14, 2026, under the symbol AZCU (Cusip No.: 092660109; ISIN: CA0926601091). Prismo Metals owns 6,755,000 Blade shares.

The Blade shares owned by Prismo were acquired in February, 2026, as part of a transaction in which Prismo assigned all of its rights, interests and obligations in the Hot Breccia copper project, located in the heart of the Arizona copper belt, to Blade Resources. As a result of the transaction, Prismo holds approximately 24 per cent of Blade's issued and outstanding shares and is Blade's largest single shareholder (see additional early warning filed on SEDAR+).

Alain Lambert, chief executive officer of Prismo, commented: "In our opinion, the Silver King and Hot Breccia projects are some of the most compelling copper exploration opportunities in North America. With the listing of Blade Resources, our shareholders are now exposed to the upside of two significant copper exploration plays in Arizona." He added: "We optioned Hot Breccia in January, 2023, and advanced the project to a fully permitted, drill-ready stage. The principals and financial backers of Blade have a long history and strong track record in raising significant capital for exploration programs of the scale required at Hot Breccia. We look forward to Hot Breccia being drilled before the end of this year."

Additional Prismo rights under the transaction

Under the terms of the transaction:

  • Prismo has the right to nominate one representative to Blade's board of directors. The company has not yet determined its initial nominee.
  • Blade has granted Prismo participation rights in future equity offerings, allowing Prismo to subscribe for shares on substantially the same terms as other investors in order to maintain its undiluted ownership percentage in Blade.

About the Hot Breccia project

The Hot Breccia project lies at the heart of the Arizona copper belt, which hosts several globally significant porphyry copper deposits. Examples of these significant deposits are Freeport McMoRan's Miami-Inspiration mining complex, BHP's San Manuel mine, Rio Tinto and BHP's Resolution deposit, and others.

Further update

The company has also granted two consultants of the company an aggregate of 350,000 stock options, exercisable at a price of six cents for a three-year term. The options will vest 25 per cent on the date of grant, 37.5 per cent after three months and 37.5 per cent after six months.

Prismo also announces that it intends to proceed with the two previously announced two debt settlement agreements with two creditors of the company directly involved in the Silver King drill campaign, pursuant to which the company agreed to issue to the creditors and the creditors agreed to accept an aggregate of 1,555,475 shares of the company at a deemed issue price of six cents per share in full and final settlement of a portion of their service fees in the aggregate amount of $93,328.49. The company has also entered into two additional settlement agreements pursuant to which the company agreed to issue to the creditors and the creditors agreed to accept an aggregate of 1.25 million shares of the company at a deemed issue price of five cents per share in full and final settlement of the aggregate amount of $62,500. As part of these additional settlement agreements, the company will also issue 375,000 warrants that will entitle the holder to purchase one share for a period of 24 months from the date of issue at an exercise price of 10 cents.

All securities issued pursuant to the debt settlement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.

About Prismo Metals Inc.

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

About Blade Resources Inc.

Blade Resources is a Canadian exploration company focused on the development of the Hot Breccia project, an emerging copper-gold porphyry located near Hayden, Ariz., United States. Hot Breccia's 227 unpatented mining claims lie in the heart of the Arizona porphyry copper province, within sight of the Hayden copper smelter (Asarco) and Freeport's Christmas mine. Historic exploration on the property conducted by Bear Creek Mining (then a Kennecott subsidiary) in a venture with Conoco Inc. from 1972 through 1981 discovered substantial porphyry copper skarn mineralization in multiple drill holes and confirmed the presence of a large, mineralized Laramide-age porphyry, with the grade and tonnage yet to be determined.

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