Prime Mining Corp. is reporting expansion drilling results from the Company?s Los Reyes Project (the ?Project?), located in Sinaloa State, Mexico. These results are from 2024 drilling at the Z-T Trend and are not included in the Company?s May 2, 2023 Mineral Resource Estimate (?MRE?). Expansion Drilling Highlights in the Z-T Trend: The Company is reporting 15 core holes at Tahonitas with the following highlights: 6.93 grams per tonne (?gpt?) gold-equivalent (?AuEq?) (6.64 gpt Au and 22.4 gpt Ag) over 2.0 metres (?m?) estimated true width (?etw?) in hole 24TA-117, including: 19.71 gpt AuEq (18.90 gpt Au and 62.8 gpt Ag) over 1.0 m etw; 1.51 gpt AuEq (1.0 gpt Au and 39.6 gpt Ag) over 14.2 m etw in hole 24TA-119, including: 4.34 gpt AuEq (2.60 gpt Au and 134.5 gpt Ag) over 2.4 m etw. 1.47 gpt AuEq (1.21 gpt Au and 19.9 gpt Ag) over 10.7 m etw in hole 24TA-131, including
7.28 gpt AuEq (6.80 gpt Au and 37.4 gpt Ag) over 0.8 m etw. INTERPRETATION: 24TA-117 displays high grade gold and silver mineralization and remains open to the south-east, while both 24TA-119 and -117 indicates mineralization remains open down-dip. Hole 24TA-119 intercepted gold and silver-bearing mineralization at an elevation of 270m above sea level and approximately 425m down-dip (as measured along the structure) from the current pit bottom. Holes 24TA-130 and -131 successfully indicated continuity of high-grade mineralization immediately beneath the MRE pit, in an area which was previously drilled at a sub-optimal orientation to mineralization due to access constraints. 24TA-131 is particularly impactful because it connects two previously separate shoots of high-grade mineralization, returning higher grades than estimated in the May 2023 MRE. 24TA-127 intersected high gold-equivalent grades approximately 275m along strike and 350m down-dip from the MRE pit bottom. These results, along with 24TA-117 and -119, continue to grow the newly discovered lobe of high-grade mineralization outlined in April 2024 release. This high-grade lobe remains open down-dip and along strike to the southeast. The next steps for expansion drilling at the Z-T Trend are focused on the newly discovered high-grade shoot at Tahonitas defined by 24TA-110, -112, -116, -117, and -119, and to follow-up on open mineralization along strike at the far southeast end of the ZT trend. The ongoing discovery of mineralization hosted at relatively shallow depths continues to suggest the following: Shallow early-stage intersections that may support pit expansion to the southeast near surface. Demonstrates that the Tahonitas structure continues to be mineralized for 350m along strike from the south-east pit crest. The potential to discover more high-grade plunging shoots with continued drilling at depth within the new southeast strike extension and potentially high-margin underground feed. Continuity of grades at depth; grades that are high enough to potentially support underground resource estimation below the current resource pit bottom. As noted in earlier Z-T Trend releases focused on Tahonitas, the high-grade plunging shoots are still open at depth and along strike in multiple areas along the Trend. 2024 Outlook: Prime has completed approximately 28,000 metres of its targeted 40,000-metre 2024 drill program to-date (within budget) and will continue to evaluate drilling plans using its success-based approach. This evaluation will also include prioritization of targets based on probability of resource development and generative area discovery potential. Four drill rigs are currently active on site at Los Reyes, with 2024 exploration focused on: Extending the high-grade Z-T Trend shoots that remain open at depth, as well as along strike, both north and south. Expanding the known high-grade mineralization at Guadalupe East. Increasing the Central Trend resource through additions at Noche Buena and its connection to San Miguel East. Generative target drilling of high-grade intercepts at Las Primas, Mariposa, Fresnillo, Mina and others to further develop the resource potential at Los Reyes.