Prismo Metals’ Los Pavitos Gold Footprint Grows 2.5 km to the Northeast and Silver Footprint Also Grows 1 km

Prismo Metals Inc. (CSE: PRIZ) (OTCQB: PMOMF) (‘Prismo’ or the ‘Company’) is pleased to announce results from its ongoing exploration program at Los Pavitos, a 100% owned 5,300 ha Project in the well-mineralized Alamos region of southern Sonora State, Mexico. Exploration work reported here includes drilling of 4 new zones in an area of 1.5 by 3 km. Combined with earlier reported work (See Press Releases of October 17th and December 5th, 2023), positive results have been obtained from Las Auras, Santa Cruz, Santa Cruz Southeast, La Espanola and Oromuri structures in the northern half of the property (Fig. 1). The southern half of the property will be explored in 2024 with pioneering drilling throughout the property.

The 2023 exploration program included geologic mapping, sampling and drilling designed to determine the overall mineralization style(s) and geometry of structures in the northern half of the project. This included the first ever drilling at Pavitos. Prismo drilled 2,370 meters of HQ core in 25 relatively shallow (max 171 m) holes into 7 mineralized structures up to 1.5 km long.

The final eight holes of the 2023 program are reported here. These tested four widely-spaced structures distant from areas of previously reported strong gold drill results and areas of historical artisanal mining (See Press Releases of October 17th and December 5th, 2023). The best results (2.6 g/t Gold over 0.5m and 1.18 g/t Gold over 0.5m ) come from shallow (

Additionally, a new zone with several structures was identified and sampled in the previously unexplored northeastern portion of the project area (See Table 2). Surface sampling along the northeastern projection of the gold and silver-rich Santa Cruz structure (See Press Releases of October 17th and December 5th, 2023) yielded the highest silver assay from the project to date: 1,130 g/t Ag, with 1.33 g/t Au over 0.15 meter. Other results from this new work area include numerous samples reporting anomalous gold and the pathfinder elements arsenic and bismuth (As and Bi) (Table 1). None of these structures have yet been drilled and remain priority drilling targets.

‘With only 25 holes drilled into 9 structures and less than half the property sampled systematically, it’s pretty exciting when the first-ever drilling in new, previously untested outlying structures reports appreciable gold. We are obviously looking forward to continued drilling on them,’ commented Dr. Craig Gibson, President and CEO. ‘Finding kilo-plus silver in the undrilled extension of a structural zone where we’ve previously drilled good gold and silver grades significantly adds to that excitement and reinforces our geologic concept that Pavitos saw multiple mineralizing events.’

Figure 1. Los Pavitos project map with new drilling, sampling and geology on Lidar base.

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Figure 2. Drill hole map for the Los Pavitos Project. Blue circles are drill holes that have been completed, yellow highlights indicate new holes reported in this release.

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Table 1. Selected drill intercepts from the Los Pavitos project

Au by fire assay for all holes except LP-SC-23-16 & LP-Au-23-04, by ICP. True widths unknown at this time.

2023 Pavitos Mapping and Sampling Program

To date less than half of the property has been systematically mapped and sampled, but already 5 structures traced over 0.5 to 1.5 km each have been identified along with several smaller structures, and have been shallowly drilled with positive results. There are now approximately 1,500 outcrop chip samples and 25 trenches totalling 698 meters in length have been dug with about 350 samples.

Reconnaissance work outside the area that has been systematically explored has identified several areas with anomalous gold values and appreciable pathfinder elements values or with the presence of metals associated with the mineralization at the project, areas where exploration will be continued. The exploration program has been successful with overall results that fit the mineralization model, but detailed mapping and sampling have shown that there are additional key features than at first appeared, providing expanded potential for discovery.

‘The results of this first ever drill program at Los Pavitos indicate that we may be able to refine additional exploration targets through a drone based magnetic survey supported by ground-based geophysics and more detailed surface mapping,’ concluded Dr. Gibson.

Table 2. Drill hole data for the holes in this release

Coordinates in UTM WGS84 using handheld Garmin GPS.

Table 3. Highlight rock chip assays from Los Pavitos

About Los Pavitos

The Los Pavitos project is a 5,289-hectare property located in southern Sonora State, Mexico (Figure 4). Pavitos lies 25 km west of the well-mineralized Alamos District, which encompasses several active exploration and mining projects, including the past producing Alamo Dorado mine of Pan American Silver, the Piedras Verdes copper mine of Cobre de Mayo and the Alamos and Aurifero vein projects being explored by Minaurum Gold Inc. Infrastructure is excellent with paved highway access, electricity and water. The project, which was generated by geologist and Prismo Metals Board Member Rafael Gallardo, is believed to have potential for both the typical epithermal veins of the Alamos district and ‘orogenic’ or shear-hosted gold hosted in the highly metamorphosed basement rocks that crop out sparingly below the region’s extensive blanket of mid-Tertiary volcanic rocks. Los Pavitos lies along the projection of the Caborca Orogenic Gold Belt (Fig. 4) and the fabric and style of metamorphic deformation of the basement rocks is similar to that elsewhere in the belt.

Pavitos was acquired from Minera Cascabel S.A. de C.V., a Mexican exploration and services company founded by Dr. Peter Megaw, an advisor to the Company (for terms see the Company’s prospectus filed on SEDAR). The company completed a NI 43-101 Technical Report on the project in March 2021 available on SEDAR. Assays have been received for 1,384 surface rock samples taken by the company (excluding control samples); a further 347 samples were taken in 25 trenches cut across the main mineralized trends.

Figure 3. Location of the Los Pavitos project in southern Sonora State in relation to the Caborca Orogenic Gold Belt.

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QA/QC

Rock samples taken by Prismo are analyzed by multielement ICP-AES and MS methods and by fire assay by ALS Group and Bureau Veritas, both internationally recognized analytical service providers. Gold is analyzed as part of an ICP package using a 15 or 25-gram aqua regia digestion and is also analyzed by Fire Assay with an AA finish. Au overlimits >10 g/t are analyzed by fire assay with a gravimetric finish. Ag over 100g/t and Cu, Pb and Zn over 1% re-analyzed by the by overrange ICP methods. Certified Reference Materials including standard pulps and coarse blank material were inserted in the sample stream at regular intervals.

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and President, CEO and a director of the Company, has reviewed and approved the technical disclosures in this news release.

About Prismo

Prismo (CSE: PRIZ) is mining exploration company focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).

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

Prismo Metals Inc.
1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6

Contact:
Craig Gibson, President & Chief Executive Officer craig.gibson@prismometals.com

Jason Frame, Manager of Communications jason.frame@prismometals.com

Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian securities legislation. All statements other than statements of historical fact, including without limitation, statements regarding the anticipated content, commencement and exploration program results, the ability to complete future financings, required permitting, exploration programs and drilling, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Forward-Looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company’s equity securities, the state of the commodity markets generally, variations in the nature, the analytical results from surface trenching and sampling program, including diamond drilling programs, the results of IP surveying, the results of soil and till sampling program. the quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including CSE acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, the potential impact of COVID-19 (coronavirus) on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties. All of the Company’s Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.

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