North Peak Resources Ltd. reported that its 3,253-foot first exploration core hole (PM23-001) successfully drilled the conductive Mobile MT geophysical anomaly identified from summer 2023 surveys on its Prospect Mountain Property in Eureka, Nevada (the "Property" or "Prospect Mountain") This first exploration hole was drilled to the west from the easily accessible Diamond Mine portal and intersected at least 8 mineralized zones of the Carbonate Replacement (CRD) style that were within altered Hamburg dolomite, the host rock of the Diamond Mine workings above. Significant intersections include 9.5% Zn, 221.6 g/t Ag, 0.8% Cu, and 0.3% Pb over 1.0 m (3.28 ft), 7.3% Zn, 54.6 g/t Ag., and 0.8% Pb over 1.9 m (6.23 ft), and 355 g/t Ag and 4.6% Pb over 0.3 m (1 ft). An intersection of 0.6 g/t Au over 3.1 m was located along the Jackson Fault that was historically thought to be devoid of gold, indicating potential Carlin style gold leakage along the fault.

PM23-001 was successful in intersecting several zones of pyrite, sphalerite, galena +- chalcopyrite mineralization in the projected area of the MT geophysical anomaly. A BHEM survey is being undertaken to evaluate the optimal orientation for potential wedging of this hole, as it should help to identify the location of the best conductors (sulphides) relative to the position of the original hole. North Peak previously released assay results from one historical hole (WS02) drilled in 2017 from surface at Prospect Mountain, which intersected 8.0% Zn over 7.0 m located 90 m (295 ft) above the underground workings (stopes) at Shaft #2, and 12.9 g/t Au, 195 g/t Ag, 0.,8% Pb and 0.5% Zn over 2.5 m at 280 m (919 ft) southwest of the underground workings.

PM23-001, drilled vertically to 294.8 m (967 ft) at the same collar as WS02, intercepted 3.3% Zn over 4.8 m (15.8 ft) from 112.5-117.3 m (369-384.8 ft), including 12.1% Zn over 0.4 m (1.3 ft) from 115.2-115.6 m (377.9-379.2 ft). These results from WS01 and WS02 are consistent with the localized gold and polymetallic intercepts found in PM23-001.