Prospector Begins Maiden Drill Program on ML Project, Yukon

Vancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET0) ("Prospector" or the "Company") is pleased to announce that it has commenced drilling on its flagship ML Project in the Yukon ("ML"). The fully funded program will include up to 5000m of diamond drilling over a 10-week period through to the end of August to test high-priority target areas identified during the Company's 2024 exploration program and at the undrilled Bueno Target.

Highlights:

• Drilling is underway at the previously undrilled Bueno Target which recently yielded rock samples up to 156 g/t Au (see news release dated June 10, 2025).

• Additional drilling will test 6 target areas on ML being Bueno, Skarn Ridge, Rubble Cirque, North Vein, Java and Fishbowl (see figure 1 below).

"ML represents an excellent opportunity and we are excited about what will come from the Drill Program based on our recent sample results as well as our reinterpretation of the geology of the project," stated Robert Carpenter PhD, President and CEO of Prospector Metals Corp. "We look forward to sharing more information with our Shareholders as the drill program unfolds."

2025 Drill Program

The 2025 ML Drill Program will consist of up to 5,000m of diamond drilling, over 15 - 20 holes, on 6 target areas including: Bueno, Skarn Ridge, Rubble, Fishbowl, Java, and North Vein. The drilling is targeting high-grade, structurally controlled, gold mineralization hosted in both intrusive units and adjacent calc-silicate/hornfels altered meta-sediments based on reinterpretation of the targets during review of the 2024 work program and historical data. The initial drilling has commenced on the Bueno target where the Company recently reported rock samples from historic trenches and surrounding areas up to 156 g/t Au (1). At Bueno the drilling is targeting a series of NE, steeply dipping, structures associated strong fracturing, quartz veining, brecciation, and disseminated to massive arsenopyrite (+/- chalcopyrite - pyrrhotite) mineralization.

(Figure 1 - Bueno, Skarn Ridge, Rubble Cirque, North Vein, Java and Fishbowl targets)

To view an enhanced version of this graphic, please visit:
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Qualified Person

The technical content disclosed in this press release was reviewed and approved by Jodie Gibson, P.Geo., Vice President Exploration of Prospector, and a Qualified Person as defined under National Instrument 43-101 ("NI 43-101").

About Prospector Metals Corp.

Prospector Metals Corp. is a proud member of Discovery Group. The Company is focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Yukon and Ontario, Canada - Tier-1 mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders and seeks to develop partnerships and agreements that are mutually beneficial to all interested parties.

On behalf of the Board of Directors,
Prospector Metals Corp.

Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO

Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation relating to exploration and drilling results, planned drilling, drilling and exploration programs, the interpretation of geological, geophysical and geochemical data, the merits and potential of the ML prospect, mineralization and the potential to define a significant mineralization system at ML, plans for future exploration activity at ML, drilling progress and timing, the receipt of assay results and reporting of same, the merits of the Company's mineral projects, funding of drilling programs and other plans of the Company. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpret", "intends", "estimates", "projects", "aims", "suggests", "often", "target", "future", "likely", "pending", "potential", "goal", "objective", "prospective", "possibly", "preliminary" and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or other statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and that such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Factors that could cause future results to differ materially from those anticipated in forward-looking statements include risks associated with exploration and drilling; the timing and content of upcoming work programs; geological interpretations based on historical prospecting and mining information, geological mapping, rock and soil sampling, and drilling that may change with more detailed information; possible accidents; the possibility that the Company may not be able to secure permitting and other governmental approvals necessary to carry out the Company's plans; the risk that the Company will not be able to raise sufficient funds to carry out its business plans; the possibility that future exploration results will not be consistent with the Company's expectations; increases in costs; environmental compliance and changes in environmental and other local legislation and regulation; interest rate and exchange rate fluctuations; changes in economic and political conditions; and other risks involved in the mineral exploration industry. The reader is urged to refer to the Company's Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of risk factors and their potential effects.

Forward-looking statements are based on a number of assumptions, including management's assumptions about the following: the availability of financing for the Company's exploration activities; operating and exploration costs; the Company's ability to attract and retain skilled staff; timing of the receipt of necessary regulatory and governmental approvals; market competition; and general business and economic conditions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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