Prospector Metals Corp. (TSXV:PPP) entered into an agreement to acquire Mike Lake Property from Troilus Gold Corp. (TSX:TLG) for approximately CAD 3.5 million on December 29, 2023. Troilus retains 20% Ownership Interest in the Mike Lake Property. At closing, it is expected that Prospector Metals will issue to Troilus 8,638,433 post-consolidation common shares. The ?Milestone Payment Amount? shall be equal to: the sum of CAD 1,000,000, if the Prospector Metals market capitalization is less than or equal to CAD 20,000,000; and the sum of CAD 2,000,000, if the Prospector Metals market capitalization is greater than CAD 20,000,000. Troilus will become a keystone shareholder and is expected to own 19.9% of the issued shares of Prospector on closing of the transaction. The transaction with Troilus is subject to Prospector completing a concurrent equity financing for gross proceeds of not less than CAD 1,000,000. As of March 5, 2024, Prospector Metals has issued to Troilus 9,222,164 post consolidation common shares* (?Prospector Shares?) at a deemed price of $0.11 per Prospector Share, under the terms of the agreement. The board of directors of Prospector has approved the Consolidation of all of Prospector?s outstanding Common Shares on the basis of three (3) pre-Consolidation Common Shares for one post-Consolidation Common Share.

Prospector Metals Corp. (TSXV:PPP) completed the acquisition of Mike Lake Property from Troilus Gold Corp. (TSX:TLG) on March 5, 2024.