Prismo Metals Reports Positive Results from Reconnaissance Mapping and Sampling at Silver King Project, Arizona

14:05 Uhr  |  The Newswire

Results Suggestive of Productive Copper Porphyry System at Depth

Vancouver, May 12th, 2026 - Prismo Metals Inc. (the "Company or "Prismo") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to provide an update on recent reconnaissance geologic mapping and rock sampling at and around its Silver King project, located in the Pioneer Mining District near the town of Superior, Arizona.

This reconnaissance program follows the successful completion of Phase 1 drilling at Silver King, consisting of eight holes totaling 1,272 metres. This drill campaign confirmed shallow silver mineralization associated with quartz / baryte veining in the upper historic mine levels, while a deep hole (SK-26-07, 488 meters) intersected at depth potassic alteration, disseminated pyrite and chalcopyrite in a porphyry-style intrusive at depth. This suggests potential vertical zoning with near-surface epithermal silver +/- copper, lead, gold and zinc veins superpositioned above potential porphyry copper mineralization, significantly enhancing the project's exploration potential.

Several undrilled vein targets need additional testing, and some deeper holes may be needed to fully explore growing evidence that a possible porphyry copper system lies adjacent or beneath Silver King; in "elephant country" just 3.4 km from the giant Resolution Copper deposit.

Samples from all eight drill holes have now been submitted to an independent laboratory for full assay analysis. Assay results are anticipated to be announced once all results are received and analyzed, sometime in early June.

The Silver King Mine occurs at the base of a regional unconformity where Paleozoic limestones, sediments, and intrusive rocks are exposed beneath the Tertiary Whitetail conglomerate and volcanic rocks exposing veins, quartz stockwork, hydrothermal breccias, skarn, and multiple Laramide intrusives beneath. Abundant historic workings scattered throughout the Paleozoic and older rocks suggest widespread mineralization that may be symptomatic of high-temperature porphyry-style alteration at depth.

Highlights of the reconnaissance program:

• Completed 50% of the planned reconnaissance geologic mapping and sampling in late April 2026, progressing from Peachville Wash westward through Silverado Wash and inward toward the central Silver King shaft, including portions of Comstock Wash and the Crown zone (Figure 1).

• Collected 23 rock samples, submitted to SGS for full assay analysis; results pending.

• Mapped two broad, apparently separate "pyrite halo" zones, one approximately 800 m wide necked down to the south but open to the north, and a second centered on Silver King extending roughly 600 m wide northwest by at least 1,300 m northeast, with potential to expand further.

• Discovered previously unmapped hydrothermal/magmatic breccias in Silverado Wash exhibiting milled polylithic fragments in a chlorite-pyrite matrix, some exhibiting pyrite, chalcopyrite and/or copper oxides, invaded by later quartz diorite; and a second similar polylithic breccia (lacking pyrite) located 700 m to the southwest. The Crown stockwork may be an additional hydrothermal breccia, known to assay good gold and copper values (reported previously).

• Grab samples from historic shafts and dumps (including "Stone Wall" and "Bilk") suggest increasing alteration intensity at depth, with potassic alteration (potassium feldspar selvages on veins and clots of shreddy biotite), magnetite, chalcopyrite, acanthite and other indicators consistent with a mineralizing porphyry source.

• Alteration intensity, together with an increase in quartz veining within the Silver King pyrite halo, appears to vector toward the central Silver King shaft / Crown / Black Diamond area; additional mapping is planned to cover the remaining areas of eastern Crown, the Black Diamond skarn, Yellowjack Wash and the Apache Mine. (Figure 2).

Figure 1. Topographic map of the Silver King mine area showing land position
and areas described in text.

Click Image To View Full Size

Figure 2. Satellite image showing the Silver King land position showing mineralize areas
referred to in text.

Dr. Craig Gibson, Ph.D., CPG, Chief Exploration Officer, commented: "The reconnaissance work to date has successfully outlined two significant sulfide alteration zones that could represent separate porphyry-style centers. The discovery of hydrothermal breccias with mineralized fragments and evidence of multiple intrusive phases, combined with potassic-altered and copper-bearing samples from deeper historic workings at Bilk and Stone Wall, provides evidence for a productive porphyry copper system at depth beneath or adjacent to the historic Silver King mine. These features align well with the porphyry-style alteration and mineralization intersected in hole SK-26-07 of our recent Phase 1 drilling."

Dr. Linus Keating CPG, Special Advisor to Prismo who led this phase of the reconnaissance program, commented: "The evidence for a productive porphyry system below Silver King to date is encouraging, but it is only a partial picture. Mapping is helping to define a sulfide system that may be symmetric upon and perhaps centered on the Silver King embayment. Hydrothermal breccias (including possibly the Crown zone) are suggestive of a productive magmatic source at depth. Sampling at old mines and prospects on the far exterior of the Silver King might well produce indications of metal zoning that would be expected around the outer edges of a large porphyry (assays are pending). Mineralized samples taken at Bilk and Stone Wall indicate that the right type of alteration is present hinting at a productive porphyry at depth. Altered granite fragments in hydrothermal breccia and a mineralized quartz monzonite dyke both suggest that the exposed quartz diorite may not be the causative intrusion; rather another intrusive may exist at depth."

He added: "The presence of potassic alteration, magnetite-chalcopyrite veining, and copper oxides in quartz monzonite and related intrusives strongly supports our model of a productive porphyry copper system in the area. I look forward to completing the remaining field work with Dr. Gibson and integrating the assay results in our geological model."

Click Image To View Full Size

Figure 3. Silicified sample containing carbonate alteration with abundant magnetite and a large chalcopyrite clot (brassy color, upper middle, 2cm across)

Alain Lambert, CEO of Prismo Metals, stated: "Following the encouraging Phase 1 drilling results that pointed to a transition into porphyry-style copper mineralization at depth, this surface reconnaissance has further strengthened our geological model. The mapped pyrite halos, new breccia discoveries and vectoring samples are exactly the kinds of indicators we look for in 'elephant country' near the giant Resolution Copper deposit only 3.4 km away. We are excited to complete the remaining mapping and sampling and incorporate these data into planning for our Phase 2 drilling at Silver King."

Next Steps

Additional days of field work are planned to complete coverage of the property, together with collection of approximately 25 more samples. Thin-section petrographic work is also underway. Assay results from the current batch of 23 samples are expected in the coming weeks and will be integrated with ongoing 3D modeling to refine targets for future drilling.

Management Update and Shares for Debt

Prismo announces that Gordon Aldcorn will be resigning effective May 15th, 2026. The Company wishes to thank Mr. Aldcorn for his service since his appointment in early 2025. Alain Lambert will assume the title of President in addition to being CEO.

Prismo also announces that it has entered into two debt settlement agreements (the "Settlement Agreements") with two creditors of the Company directly involved in the recent drill campaign (the "Creditors") 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 $0.06 per share (each, a "Share") in full and final settlement of a portion of their service fees in the aggregate amount of CA $93,328.49 (the "Debt Settlement"). 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.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 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 was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans. References to mineralization at the Magma Mine and Resolution Copper deposit is not necessarily indicative to the mineralization on the Silver King property.

About the Silver King

Discovered in 1875, the Silver King mine was Arizona's first and one of its most important historic silver producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t (from historical records, non 43-101 compliant). The Silver King mine sits only 3.4 km 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 (1).

(1) Source: Rio Tinto 2025 Annual Report, pages 298 and 299 (https://cdn-rio.dataweavers.io/-/media/content/documents/invest/reports/annual-reports/2025-annual-report.pdf).

About Prismo Metals Inc.

Prismo (CSE: PRIZ) 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.

Please follow @PrismoMetals on Twitter, Facebook, LinkedIn, Instagram, and YouTube

Prismo Metals Inc.

1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6

Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward?looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Silver King, expected assay results from Silver King.

These forward?looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: expected results at Silver King, the ability to raise capital to fund the drilling campaign at Silver King and the timing of such drilling campaign.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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