Prospector extends TESS zone: 41.34 g/t Au over 7.81 m; 130.77 g/t over 2.25 m

Vancouver, British Columbia--(Newsfile Corp. - October 6, 2026) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) (" Prospector " or the " Company ") today provided a progress update on the fully funded drill program at its ML Project, Yukon. The 2026 field season at ML is now complete and 100 holes were drilled totalling 20,980m. This news release reports results from the TESS Zone, including results from 6 holes. To date, assays from the 2026 program have been received and released for 16 holes and 84 holes are awaiting assay results.

Prospector has posted a pre-recorded webinar hosted by CEO Rob Carpenter and VP Exploration Jodie Gibson, where they discuss the results from today's release. Click on the following:

Cannot view this video? Visit: https://www.youtube.com/watch?v=fhhywwZdeJU

Dr. Rob Carpenter, Ph.D., P.Geo., Co-Chairman, President and CEO of Prospector, commented: " The TESS structural corridor has now been traced for at least 400m and high-grade gold mineralization is now drill confirmed over at least 100m within it. Our exploration strategy continues to be anchored by an appreciation for structural control and new 3D interpretations at TESS strongly suggest the presence of multiple, stacked, high-grade plunging zones occurring within a dynamic fault zone. We believe this setting resembles structurally controlled gold systems more typically observed in metamorphic terranes such as the Canadian Shield, where plunging shoots also control the location of high-grade gold."

New TESS Drill Results

Hole ML26-56 yielded a high-grade zone of: 41.34 g/t Au over 7.81m (from 100.62m) including : 130.77 g/t Au over 2.25m (from 105.54m) and 194.23 g/t Au over 1.03m (from 106.76m).

Hole ML26-54 yielded 6.10 g/t Au, 10.76 g/t Ag and 0.55% Cu over 5.79m (from 64.31m) including 1.95m of 15.15 g/t Au, 24.89 g/t Ag a