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 Area and are not included in the Company?s May 2, 2023 Mineral Resource Estimate (?MRE?).

Expansion Drilling Highlights in the Z-T Area: Tahonitas: The Company is reporting 15 core holes at Tahonitas with the following highlights: 7.68 grams per tonne (?gpt?) gold-equivalent (?AuEq?) (5.83 gpt Au and 142.7 gpt Ag) over 7.7 metres (?m?) estimated true width (?etw?) in hole 24TA-116, including: 31.49 gpt AuEq (24.31 gpt Au and 554.7 gpt Ag) over 1.8 m etw, including: 55.72 gpt AuEq (44.1 gpt Au and 898.0 gpt Ag) over 0.6 m etw; 1.98 gpt AuEq (1.21 gpt Au and 59.7 gpt Ag) over 16.9 m etw in hole 24TA-110, including: 3.99 gpt AuEq (2.41 gpt Au and 122.0gpt Ag) over 4.5 m etw; 23.97 gpt AuEq (7.66 gpt Au and 1,260.0 gpt Ag) over 0.8 m etw in hole 24TA-111. 24TA-116 is located 250m along strike from the current resource pit bottom, and 24TA-112 is located 350m down dip from the current resource pit bottom (at a mid-intercept elevation of approximately 295m above sea level). 24TA-110, located at a similar elevation to 24TA-116 (mid-intercept of 330m above sea level) and 50m along strike, is also 700m up-dip from 24TA-112 showing the structure has significant width of mineralization with its 16.9m etw reported mineralized intercept.

Step-out hole 24TA-111, located 400m from the pit crest (and 150 m down-dip from the prior south-eastern most intercept 23TA-100), returned high gold and outstanding silver grades from an intercept in the footwall of the main Tahonitas structure; this footwall structure may merge into the main Tahonitas structure along strike in the South Tahonitas area. The southeastern-most shoot of Z-T now has a modelled strike length of high-grade mineralization spanning 315m and remains open along strike and down-dip. Prime is currently drill testing (with drill hole 24TA-120) the 275 m gap between 24TA-114/-116 and 23TA-94.

24TA-119 is also being drilled to extend mineralization down dip. 2024 Outlook: Prime is targeting 40,000 metres in its 2024 drill program 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.

Five drill rigs are currently active on site at Los Reyes, with 2024 exploration focused on: Extending the high-grade Z-T Area 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 Area 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.