PRISMO METALS INC - PMOMF STOCK NEWS

Prismo Metals announced a debt settlement agreement with certain creditors. The company will issue 100,000 common shares at $0.21 per share and 17,500 common shares at $0.20 per share to settle outstanding debt of $24,500. The Settlement Shares will be subject to a four-month statutory hold period under Canadian securities laws. The securities will not be registered under the United States Securities Act of 1933 and cannot be offered or sold in the United States without registration or exemption.

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF) has received results from an artificial intelligence (AI) study at its Hot Breccia project in Southern Arizona. The study, conducted by Exploration Technologies Inc., supports Prismo's exploration plan and identifies a potential large body of sulfide mineralization measuring 1,100 by 1,150 meters. This aligns with historic drilling, a dike swarm with Cu-bearing skarn xenoliths, and a conductive anomaly from a 2023 ZTEM survey.

The AI study complements historical data from the 1970s, including high-grade copper intersections at depths of 640-830 meters. Prismo believes these intercepts represent the periphery of a large mineralized system. The company has budgeted $3.0 million for a 5,000-metre drilling program consisting of 3-5 deep holes, each 1,000-1,500 meters long.

Additionally, Prismo provided an update on its Palos Verdes silver project in Sinaloa, Mexico, where drilling is ongoing but with a slower than anticipated ramp-up.

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF) has started drilling at its Palos Verdes project in Mexico. The first hole, PV-24-34, is part of a collaborative program with Vizsla Silver Corp. The initial phase aims to drill 1,250 meters, with the first hole planned for 250 meters. The program targets the Palos Verdes vein system west of a fault, below previous high-grade intercepts.

The drilling follows three main goals: tracing the down-dip extension of a mineralized shoot, seeking vein continuation across a cross-fault, and testing the northeastern extension near the Jesusita mine. Previous drilling yielded impressive results, including 102 g/t gold and 3,100 g/t silver over 0.5 meters in hole PV-23-25.

Prismo's CEO, Alain Lambert, expressed excitement about resuming drilling at Palos Verdes and the company's active second half of 2024, which includes the Hot Breccia copper project in Arizona.

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF) has announced security-based compensation grants as part of its long-term incentive plan. The company has issued:

• 1,275,000 stock options to directors and officers, and 200,000 options to consultants, exercisable at $0.205 per share for five years
• 525,000 restricted share units (RSUs) to directors and officers
• 275,000 stock appreciation rights (SARs) to directors and officers

All grants will vest over one year, with one-third vesting every three months. This compensation strategy aims to align the interests of key personnel with the company's long-term performance.

Prismo Metals Inc. (CSE:PRIZ, OTCQB:PMOMF) has updated its mineralization model for the Hot Breccia copper project in Arizona based on newly acquired historical data from Bear Creek Mining Company. The data includes exploration information from 1972-1974, including a complete log and assays for hole OC-1. Key findings include:

1. Distribution of copper-bearing mineralization in post-mineral quartz diorite dikes
2. Shallow and deep IP anomalies potentially related to mineralized intrusion
3. Correspondence between deep IP anomaly and Prismo's 2023 ZTEM geophysical survey
4. Hole OC-1 cut 403m of volcanic rocks followed by 330m of copper-bearing quartz diorite porphyry
5. A 23.5m skarn mineralization averaging 0.54% Cu, including 1.8m of 1.81% Cu

Prismo has budgeted $3.0 million for a proposed five-hole, 5,000-metre drilling program.

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF) has announced the mobilization of a man-portable drill for its upcoming program at the Palos Verdes property in Sinaloa, Mexico. The drilling, set to begin the week of August 5th, is a collaborative effort with Vizsla Silver Corp. The program aims to test three main targets: extending the mineralized shoot, seeking vein continuation across a cross-fault, and testing the northeastern extension near the Jesusita mine.

Previous drilling yielded high-grade results, including 102 g/t gold and 3,100 g/t silver over 0.5 meters. The Palos Verdes vein system comprises at least three discrete structures. CEO Alain Lambert expressed excitement about the program and mentioned the company's Hot Breccia copper project in Arizona, anticipating an active second half of 2024.

Prismo Metals has received permit approval from the Bureau of Land Management to initiate a deep drilling program at its Hot Breccia copper project in Southern Arizona. The permit allows for ten drill pads to test stratigraphy and a large conductive anomaly identified in a 2023 survey. The $3 million budgeted program aims to drill five holes, each expected to reach 1,000 meters, to explore beneath volcanic cover rocks. Preparatory work will leverage existing infrastructure, with drilling set to commence in Q3 2024. This marks the first exploration in five decades on the site, noted for past copper intercepts exceeding 1%.

Prismo Metals announced the completion of a non-brokered private placement, raising $1,147,500 by issuing 6,750,000 units, each consisting of one common share and a half-warrant. Each warrant allows the purchase of one share at $0.25 within 24 months. The funds will support drilling projects at Palos Verdes and Hot Breccia, alongside general working capital.

Additionally, Prismo settled debts worth $255,205 with creditors by issuing 628,206 units and 873,000 shares at $0.17 each. The securities are subject to a four-month hold period. The transactions involved related parties but were exempt from formal valuation and minority approval under MI 61-101 regulations.

Furthermore, Prismo granted 225,000 stock options at $0.21 each, exercisable over five years. These securities are not registered under the U.S. Securities Act and may not be sold in the U.S. without proper registration.

Prismo Metals has secured commitments for a $1.1 million private placement, pricing units at $0.17 each. Each unit comprises one common share and half a common share purchase warrant, exercisable at $0.25 for 24 months. The private placement is expected to close around June 18, 2024.

Key projects include the Hot Breccia Copper Project in Arizona and the Palos Verdes Silver Project in Mexico. The Hot Breccia project anticipates drilling five 1,000-meter-deep holes upon permit approval. The Palos Verdes project plans to drill 3,600 meters in ten holes, targeting deep veins, starting immediately after the private placement closure.

Steve Robertson, President of Prismo Metals, highlighted the positive impact of rising commodity prices and investor interest on their exploration plans.