Pacific Empire Provides Corporate and Exploration Update

Pacific Empire Provides Corporate and Exploration Update

 

pacific empire minerals corp. (TSXV: PEMC) ("Pacific Empire", "PEMC" or the "Company"), a British Columbia copper explorer, is pleased to provide a corporate and exploration update on its Trident and Pinnacle projects.

 

Over the past decade Pacific Empire has operated under the "Prospect Generator" business model, where the Company would acquire projects through staking or through option agreements. The Company would then seek to attract partners to advance the projects, primarily in the form of diamond drilling. The acquisition of the Trident Copper-Gold Porphyry Project marks a significant turning point for the Company and an opportunity to focus entirely on advancing one highly prospective project toward discovery, while partner-funded exploration continues at the Company's Pinnacle Copper-Gold Porphyry Project.

 

"Acquiring the Trident property is a game changer for the company," commented Brad Peters, President, and CEO and Director of Pacific Empire. "This is a property that I had been watching very closely over the past seven years. Pacific Empire had originally optioned the then named Col property in 2013 and during 2014 the property was advanced with partner-funded exploration by Oz Minerals who completed a large IP survey in addition to two diamond drill holes. In 2015 Oz Minerals dropped the option agreement and returned the project to PEMC but due to the significant cash payments and exploration expenditures required by Pacific Empire to keep the underlying option agreement in good standing we were forced to return the property back to the owner.

 

"Over the past seven years I remained in contact with the owner of the property and when it became apparent in April of 2022 that the claims were potentially going to expire, we came to an agreement where in return for a 2% NSR on the property Pacific Empire would acquire a 100% interest in the property. The only problem remaining was that the claims were still going to expire if there was not a significant amount of work completed immediately or by filing cash-in-lieu to maintain the claims in good standing with the government. Due to previous partner-funded exploration on Pacific Empire's projects over the past seven years we were in the fortunate position of having a substantial balance in our PAC account and we were able to take advantage of a one-time opportunity to use our PAC credits to advance the property with the government until 2027. As a result, Pacific Empire now has a 100% interest in a very prospective gold-enriched copper project with no underlying obligations to property owners and no government required exploration expenditures for another four years.

 

"The most significant advancement on the property occurred during 2014 when it was recognized that mineralization encountered in diamond drilling at the A Zone during 2007 and the early 1970's was not related to a fracture or shear zone but was directly related to the emplacement of small porphyry intrusions. This observation has significant implications for future exploration programs and is often overlooked when evaluating copper porphyry prospects. As our Senior Geological Advisor, Paul Johnston put it, 'Although it should seem obvious, one of the most important criteria in evaluating a porphyry prospect is the actual presence of a mineralized porphyry.'

 

"Most importantly, the intrusions dip to the northeast, implying that the source of the mineralized porphyry intrusions is to the northeast of historical drilling at the A Zone, in an area where there has been no diamond drilling. In addition, high grade mineralization at the Slide Zone, located approximately 700 metres to the northeast of the A Zone, appears to be related to the emplacement of a hydrothermal breccia, a common feature related to copper porphyry systems.

 

"Several prospective target areas have been identified to the northeast of the A Zone and the next step for Pacific Empire is to complete an airborne Mobile Magneto Tellurics survey over this area. The ability of a Magneto Telluric survey to outline resistive/conductive bodies at a depth up to 1 kilometre will assist greatly in focusing future diamond drilling."

 

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Location of Trident & Pinnacle Copper-Gold Porphyry Projects
 
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Forest Fires

 

The ongoing forest fires in British Columbia have had an impact on our planned exploration activities at the Trident project. Firstly, we want to extend our thoughts to the communities affected by these fires and extend our gratitude to the firefighters and emergency personnel working to control the situation.

 

Safety is our top priority at PEMC. As such, we suspended our exploration activities at the Trident project during July and August to ensure the safety of our employees and contractors. We have been monitoring the situation to assess when it will be safe to resume our operations. Precipitation over the past two weeks appears to have been successful in subduing fire activity in the area and we anticipate it will be safe to conduct exploration activities shortly.

 

The fire that affected the Trident property was the Klawli Lake Fire (Fire No. G50872). The fire was first reported on June 24, 2023 and reached an extent of 15,943.6 hectares, covering portions of both the Trident and Pinnacle properties.

 

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Location of Trident & Pinnacle Projects in Relation to 2023 Forest Fires
 
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About the Trident Property

 

Located approximately 50 km to the southeast of Northwest Copper's Kwanika Deposit and 50 km to the northwest of Centerra Gold's Mt. Milligan Mine, the Trident property covers 6,618 hectares and is accessible by vehicle using well established logging roads.

 

Copper mineralization on the property was first discovered by Colin Campbell in 1969, while following up on anomalous stream sediment samples. The following year Falconbridge Ltd. optioned the property and over the next two years completed IP and magnetic surveys, geological mapping, soil sampling and diamond drilling. This work identified the A Zone.

 

Additional exploration programs were completed by Kookaburra Gold Corp. from 1988 through 1991, Solomon Resources Ltd. From 2006 through 2008 and PEMC/Oz Minerals Ltd. From 2014 to 2015. All of these programs completed diamond drilling, geophysical surveys and geochemical sampling.

 

Mineralization on the property is most significant in three areas, 1) the A Zone, 2) the Slide Zone and 3) Campbell Trench. Further information and details including updated maps can be found on the Company's website at www.pemcorp.ca and in the Corporate Presentation.

 

The A Zone

 

At the A Zone, copper-gold mineralization occurs along a strike length of approximately 300 metres at an azimuth of 120o and where best developed it is approximately 30 meters wide over a length of approximately 175 metres. This zone was tested by a number of small diameter drill holes by Falconbridge Ltd. in 1971 with the best intersections assaying 0.84% Cu over 45.7 meters and 0.70% Cu over 51.8 metres (DDH-1971-13 and DDH-1971-20, respectively). In 2007, Solomon Resources Ltd. followed up with diamond drilling at the A Zone and demonstrated that mineralization extended at depth.

 

Until 2014, mineralization at the A Zone was believed to be associated with a fracture or shear zone, however while reviewing drill core from the A Zone in 2014, PEMC observed the presence of very well mineralized porphyry intrusions that are most likely responsible for the copper-gold mineralization due to their intimate relationship with quartz-sulphide veining and mineralization.

 

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Trident Property Mineralized Zones
 
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Selected Highlights from Historical Drilling at Col (A Zone)

 
                                                            
YearHole IDInterval (m)Copper %Gold g/t
1971DDH-1971-933.60.85not assayed
1971DDH-1971-1345.70.84not assayed
1971DDH-1971-2151.80.7not assayed
2007DDH 2007-1420.670.14

incl.101.180.34
2007DDH 2007-21000.590.18

incl.20.81.05

incl.22.730.36
2007DDH 2007-3320.610.317

incl.21.221.02
2007DDH 2007-4460.600.28
 

 

 

"It is the shorter intervals that are of particular interest to me as they represent the potential for high-grade copper-gold mineralization," commented Brad Peters, President, and CEO of Pacific Empire. "The key now is to identify where these mineralized porphyry fingers are emanating from, and we believe an airborne Magneto Telluric survey will be of great value in identifying the much larger, potential source of such mineralization."
 

 

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 Porphyry intrusion in DDH-2007-2 @ 77m associated with sheeted quartz-sulphide veining
 

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The Slide Zone

 

One of the more intriguing examples of mineralization on the property can be found at the Slide Zone. Located approximately 1 km to the northeast of the A Zone, the Slide Zone occurs within Chuchi Lake Succession volcanic rocks and is characterized by a large area of boulders derived from a steeply dipping fault scarp. Select grab samples from the area in 2007 returned the following values:

 
  • 17,700 ppm Cu, 948 ppb Au, 16.4 ppm Ag; Sample 96568

  •  
  • 5,535 ppm Cu, 429 ppb Au; Sample 96571

  •  
  • 3,739 ppm Cu, 302 ppb Au; Sample 96570

  •  

In this area, mineralization styles vary considerably but are characteristic of hydrothermal breccia. This is evidenced by the presence of mineralized monzonite clasts within the surrounding volcanic rocks in addition to strong epidote-quartz alteration of the mineralized clasts.

 

In porphyry deposits, breccias generally occur as steep, pipe-like bodies and are typically formed at the top of, or immediately adjacent to an intrusion, hosting high-grade ore bodies. Breccia-hosted deposits, such as the Galore Creek porphyry copper-gold deposit and the Mount Polley porphyry copper-gold-silver deposit are such examples.

 

Campbell Trench Zone

 

Located approximately 1 km to the northwest and 200 m higher in elevation, PEMC believes the Campbell Trench Zone may be representative of a higher level within the porphyry-epithermal spectrum. This area is characterized by the presence of large quartz veins associated with copper-gold mineralization. Visible gold was observed in outcrop at this location in 2007.

 

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Visible gold at Campbell Trench from 2007
 
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Pinnacle Property Update

 

Exploration activities at Pinnacle were also affected by forest fire activity during 2023, however as the situation improves, we expect partner-funded exploration to continue in 2023.

 

On June 27, 2023, Teako Minerals Corp. ("Teako") announced that it had received its drill and road use permits for exploration at Pinnacle. In addition, Teako announced their intention to perform a 3D IP survey at Pinnacle over the Aplite Ridge target area. Additional intended work for 2023 also includes soil sampling, geological mapping and rock sampling to further expand upon work completed in 2021 and 2022. The proposed IP program is designed to conduct up to 50.4 line-kilometers of survey work which is primarily targeting the Aplite Ridge and immediately adjacent target areas.

 

Details of the Drill and Road Use Permits are as follows:

 
  • Diamond drilling, roads and trails permit (June 23, 2023, to June 22, 2028); and

  •  
  • Road use permit approval (June 6, 2023, to December 31, 2023).

  •  

Details of the Option Agreement between Pacific Empire and Teako

 

Teako may earn a 70% interest in Pinnacle by completing $3,000,000 in exploration expenditures on the project, paying PEMC an aggregate of $460,000 in cash payments ($110,000 paid) and issuing 3,800,000 common shares (800,000 issued) to PEMC by August 2026. Following the exercise of the Option, PEMC will retain a 30% free-carried interest in the Project until the date that Teako publishes a NI 43-101 compliant Pre-Feasibility Study ("PFS") on the Project. Following completion of the PFS, PEMC and Teako will form a joint venture with Teako holding a 70% initial interest and PEMC holding a 30% initial interest.

 

2022 and 2021 Exploration Completed by Teako

 

Exploration work in 2022 was centered on and around the Aplite Creek Occurrence and comprised extensions of the 2021 soil grid to the east, expanded UAV drone based magnetic coverage westerly and east from the previous survey while mapping and rock sampling within the original grid area. It consisted of collecting 427 soil samples of standard "B" horizon material analyzed by conventional digestion and analytical techniques. A total of 14 grab rock samples were collected from bedrock exposures.

 

Results were highly elevated for copper and gold, consistent with the 2021 and historical compiled data. Gold values returned a high value of 1,830 ppb (10% of samples >20 ppb) and copper values with a high value of 605 ppm (4% of samples >100 ppm). A total of 14 rock samples were collected and returned low values, except for four samples collected from bedrock exposures at the Aplite Creek Occurrence where sample results were elevated for copper and gold (table 1). The area sampled comprises a large, elevated rise in topography that lacks outcrop and is interpreted to be a large till sheet at least several metres thick.

 

A total of 427 soil samples were collected and returned 42 samples yielding assay values greater than 20 ppb gold and 17 samples greater than 100 ppm copper in an area void of outcrop and with interpreted modest till cover. Rock grab samples collected from the Aplite Creek occurrence returned several anomalous sample results. A highlight was one grab sample that returned 1.4% Cu and 1.7 g/t Au.

 

Exploration carried out by Teako in 2021 was centered on the Aplite Creek prospect and included collection of 173 soil samples of standard B-horizon and 85 samples collected for mobile metal ion sampling (MMI) analysis. Gold values from soil sampling in 2021 returned a high value of 1,460 parts per billion (ppb) (24 percent of samples over 20 ppb) and copper values with a high value of 8,010 ppm (26 percent of samples over 100 ppm and 5 per cent over 1,000 ppm). This 2021 sampling, combined with previous soil sampling, induced polarization surveys and the current magnetic survey, identified a northwesterly trending area of elevated copper and gold soil geochemistry coincident with magnetic highs and high chargeability over an area of four (4) km by 1.2 km.

 

The Pinnacle Project is located within the Quesnel Terrane which is characterized by Late Triassic to Early Jurassic volcanic and sedimentary rocks that have been intruded by various intrusive phases related to the Late Triassic to Early Jurassic Hogem Intrusive Suite. The property was first explored in the early 1970's following the identification of anomalous stream sediment samples from reconnaissance prospecting within the central portion of the property at the Aplite Creek Zone where chalcopyrite and secondary malachite occur in a calcite-quartz breccia zone that can be traced for approximately 30 m, and which is approximately 7m in width. Initial geochemical surveys, limited diamond drilling, and geophysical surveys were completed and confirmed the presence of copper and gold mineralization at Aplite Creek. Highlights of the historical work at Aplite Creek include a diamond drillhole drilled by BP Resources in 1990 that reported 6m @ 6.4 g/t gold. Since 2014 the property has seen extensive exploration to the south of the Aplite Creek area including diamond and percussion drilling, induced polarization ("IP") surveys and airborne magnetic/EM surveys that have identified several broad areas that exhibit widespread porphyry style alteration in areas of extensive cover. At the Elbow Zone, five of the six diamond drill holes returned anomalous gold, highlighted by 94 metres grading 0.34 g/t gold in DD15ELB001. At the Sooner Zone, diamond drilling in 2015 encountered broad intervals of anomalous low-level copper associated with sericite-biotite alteration.

 

"I am very happy that Teako continues to advance the Pinnacle project," commented Brad Peters, President and CEO of Pacific Empire. "Recent logging activities on the Pinnacle project have dramatically improved access to the Aplite Ridge target area in addition to prospective areas to the north and east. The group at Teako is very experienced and capable with a wealth of knowledge in porphyry deposits in British Columbia. They have been able to bring new ideas and insights that add significant value to the project."

 

Qualified Person

 

Kristian Whitehead, P.Geo., serves as a qualified person as defined by NI 43-101 and has reviewed the scientific and technical information in this news release, approving the disclosure herein.

 

About Pacific Empire

 

Pacific Empire is a copper exploration company based in Vancouver, British Columbia and trades on the TSX Venture Exchange under the symbol PEMC. The Company's strong portfolio of gold-enriched copper projects in British Columbia, is the culmination of perseverance through one of the longest bear markets in the resource industry.

 

British Columbia is a "Green" copper jurisdiction with abundant hydroelectric power, access and infrastructure in close proximity to the end market.

 

ON BEHALF OF THE BOARD,

 

"Brad Peters"
President and Chief Executive Officer

 

pacific empire minerals corp.
Tel: +1-604-356-6246
brad@pemcorp.ca

 

www.pemcorp.ca

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Forward-Looking Statements

 

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179622

 

 

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(TheNewswire)

 
       
  Prismo Metals Inc. 
                
 

Vancouver, British Columbia, July 3rd, 2025 TheNewswire - Prismo Metals Inc. (the " Company ") (CSE: PRIZ) (OTCQB: PMOMF) is pleased to announce that it has signed option agreements to acquire 100% interest in two historic high-grade precious and base metal mines — the Silver King and Ripsey mines — both located in Arizona's prolific Copper Belt near its flagship Hot Breccia project.

 

Additional information on the Silver King and Ripsey mines as well as Prismo's other projects (Hot Breccia and Palos Verdes) is available on Prismo's Youtube channel at:   

  

 

  Exceptional Grades and Untapped Potential  

 

Discovered in 1875, the Silver King mine is one of Arizona's most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. Remarkably, selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains. Additionally, the presence of freibergite (AgCuSbS) suggests a potential for antimony, a critical mineral with growing strategic demand.

 

The Ripsey mine, located 20 km west of Hot Breccia, is also an historic gold-silver-copper producer with significant upside. Historic sampling has returned up to 15.85 g/t gold and 276 g/t silver, yet no modern exploration has been conducted.

 

  Strategic Location — World-Class Neighbors  

 

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world's largest unmined copper deposits with an estimated copper resource of 1.787 billion metric tonnes at an average grade of 1.5% copper (1) . This unique land position is fully surrounded by Resolution Copper's claim block, offering strategic upside.

 

"The Silver King and Ripsey mine projects are exciting additions to our Arizona portfolio. We see an opportunity to create near term value through immediate exploration on a historic high-grade silver producer with antimony potential that has seen limited modern exploration by drilling both laterally and at depth into a prospective source formation, said Gordon Aldcorn, President of Prismo. "We look forward to getting our exploration team back in the field, advancing our exciting projects and revitalizing investor interest in the Company."

 

The Silver King mine was discovered in 1875 and produced ore with as much as 10,000 ounces per ton silver in near surface workings (2) . Underground production through 1889 is estimated at almost 6 million ounces of silver at grades of between 61 and 21 ounces per ton. During a second period of production from 1918 to 1928, 230,000 ounces were produced at a grade of 18.7 ounces per ton.  No significant production has occurred after 1928.

 

The orebody at Silver King is a steeply west-dipping pipelike stockwork and breccia zone that was mined on eight levels to about 300 meters depth below a glory hole at the surface. The pipe is described as a dense stockwork with local breccia zones and a quartz core (3) .  Records indicate that due to variations in mineralogy, much of the upper portion of the body was evidently not mined. The current owners (the " Optionor ") rehabilitated the main shaft in the late 1990s, opened the upper levels of the mine and produced a small tonnage. Assay certificates from this period show selected samples with 400 to 600 ounces per ton silver with 0.2-0.5 oz/t gold and some base metals. Virtually no modern exploration has been carried out at the mine providing significant exploration upside and multiple drill targets.

 

The Ripsey mine is a historic gold-silver-copper producer located about 20 km west of the Hot Breccia project. Historic mine workings consisting of tunnels and shafts on several levels were developed along a vein over about 400 meters of strike length and 160 meters vertically. A small tonnage of mineral was produced by the Optionor in the late 1990's. Sampling by Dr. Craig Gibson from the mine workings has yielded 15.9 g/t gold and 275 g/t silver over 0.75 meters and 8.7 g/t gold, 181 g/t silver, 3% copper and 9% zinc over 1 meter. No modern exploration has been carried out at the project, providing significant exploration upside and multiple drill targets.

 

The Company plans to conduct a detailed mapping and sampling program at both projects at surface exposures and in accessible workings.  A drill program is planned for Silver King, with about 1,000 meters initially. The Silver King drill program is designed to test the mineralized body at four elevations as well as lateral to the pipelike body. De-watering of the Silver King shaft to gain access to the upper levels may also be undertaken as submersible pumps are in place.

 

"This is a fabulous opportunity for the Company. Both projects are high-grade and are easily accessible and may be associated with porphyry copper mineralization. We also look forward to evaluating the potential for antimony at Silver King. We're excited to begin exploration immediately to test the Silver King's pipelike mineralized body at multiple depths and laterally," said Dr. Craig Gibson , Chief Exploration Officer. "This region is world-class for porphyry systems and base and precious metals, and we believe these mines have significant untapped potential."

 

    
Click Image To View Full Size
 

 

Location of the Company's projects withing the Arizona Copper Belt

 

    
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Land map of the Silver King mine.

 

    
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Drone view of the Silver King mine.

 

     

 

The Silver King mine in the late 1800's.

 

    
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Click Image To View Full Size
 

 

Small scale mining in the upper levels of the Silver King mine in the late 1990's.

 

  Deal description  

 

Prismo has the option to acquire a 100% interest in both the Silver King and Ripsey mines. Prismo can earn a 100% interest in the Ripsey mine by issuing one million shares to the Optionor, paying the Optionor US $10,000 within six months of the signing of the option agreement (the " Effective Date "), US $10,000 on each anniversary of the Effective Date and US $1 million to the Optionor within five years of the Effective Date. Prismo does not have minimum work commitments as part of the Ripsey option agreement.

 

Regarding the Silver King mine, Prismo can acquire a 100% interest in three stages. Prismo must issue one million shares to the Optionor, pay the Optionor US $10,000 within six months of the Effective Date, and US $10,000 on each anniversary of the Effective Date. To earn a first 50% interest, Prismo must incur no less than US $500,000 in expenditures on or before the first anniversary of the Effective Date, incur no less than an additional US $2.5 million expenditures on or before the third anniversary of the Effective Date and issue to the Optionor two million shares. Prismo can acquire an additional 30% interest by incurring no less than an additional US $3 million in expenditures, paying the Optionor US $1 million and issuing to the Optionor two million shares before the fifth anniversary of the Effective Date. Prismo can elect to form a joint venture at anytime after earning it initial 50% interest. The option agreement and joint venture agreement terms and conditions contain standard buyout and dilution terms regarding the final 20% interest.

 

  Private Placement  

 

Prismo is also pleased to announce a non-brokered private placement (the " Private Placement ") of five million units of the Company (" Units ") at an issue price of $0.05 per Unit for minimum gross proceeds of $250,000. Each Unit will consist of one common share in the capital of the Company (a " Share ") and one-half of one common share purchase warrant of the Company (each whole warrant, a " Warrant "). Each Warrant will entitle the holder to purchase one Share for a period of twenty-four (24) months from the date of issue at an exercise price of $0.10.

 

The Private Placement will also be made available to existing shareholders of the Company who, as of the close of business on July 1st, 2025, held Shares (and who continue to hold such Shares as of the closing date of the Private Placement), pursuant to the existing securityholder exemption set out in BC Instrument 45-534 – Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the " Existing Securityholder Exemption "). The Existing Securityholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Securityholder Exemption exceeding the maximum amount of the Private Placement, the Company intends to adjust the subscriptions received on a pro-rata basis.

 

The Units issued pursuant to the Private Placement and the Existing Securityholder Exemption will be subject to a four-month hold period from the closing date of the Private Placement under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.  

 

  The Company intends to use the net proceeds of the Private Placement for general corporate purposes. The Company may pay finder's fees to eligible finders in connection with the Private   Placement, subject to compliance with applicable securities laws and Canadian Securities Exchange policies.  

 

  The securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.  

 

  Debt Settlements  

 

  Prismo also announces that it has entered into debt settlement agreements (the "   Settlement Agreements   ") with certain creditors of the Company (the "   Creditors   ") pursuant to which the Company agreed to issue to the Creditors, and the Creditors agreed to accept, an aggregate of 160,000  shares of the Company (each, a "   Share   ") in full and final settlement of accrued and outstanding indebtedness in the aggregate amount of $11,000 (the "   Debt Settlement   ").   All securities issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable policies of the Canadian Securities Exchange.  

 

  Share and Warrants Issuance  

 

  A private company dealing at arms' length with Prismo, its officers and directors, had certain rights into the Silver King and Ripsey mines ("   PrivateCo   "). In consideration for PrivateCo relinquishing its rights in the Silver King and Ripsey mines in favor of the Company, Prismo has agreed, subject to regulatory approval, to issue PrivateCo five million units (the "   Units   "). Each Unit is comprised of one common share (a "   Share   ") and one share purchase warrant (a "   Warrant   "). The Shares will become free trading as to 25% every six months from the Effective Date. Two million of the Warrants will be exercisable at $0.10 ("   First Tranche   ") and three million Warrants will be exercisable at $0.15 ("   Second Tranche   "), all for a period of three years. The shares from the exercise of the Warrants will become free trading as to 25% every six months from the Effective Date. In addition, the exercise of the First Tranche is conditional on Prismo having raised $1.5 million from parties introduced to Prismo by the principals of PrivateCo and the exercise of the Second Tranche is conditional on Prismo having raised $3.0 million from parties introduced to Prismo by the principals of PrivateCo.  

 

  Qualified Person  

 

   Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. Other than the sampling conducted by Dr. Craig Gibson as indicated herein, the data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.   

 

  1)     https://resolutioncopper.com/about-us/    

 

  2)   Galbraith, F, 1935, Geology of the Silver King area, Superior, Arizona, Univ. of Arizona thesis, 153p plus plates.  

 

  3)   Blake, W.P., 1883, Description of the Silver King Mine, Arizona, New Haven, 48p plus plates.  

 

  About Prismo Metals Inc.  

 

  Prismo (CSE: PRIZ) is a mining exploration company focused on advancing its Hot Breccia copper project in Arizona and its Palos Verdes silver project in Mexico.  

 

  Please follow @PrismoMetals on   ,   ,   ,    Instagram    , and  

 

  Prismo Metals Inc. ,   1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6  

 

  Contact:  

 

  Alain Lambert, Chief Executive Officer    alain.lambert@prismometals.com   

 

  Gordon Aldcorn, President    gordon.aldcorn@prismometals.com   

 

  Cautionary Note Regarding Forward-Looking Information  

 

  This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.  

 

  These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King and Ripsey. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund exploration and the timing of such exploration.  

 

  Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-   looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.  

 

  NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
 

 

Copyright (c) 2025 TheNewswire - All rights reserved.

 

 

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