Prospector Metals Corp. Appoints Ian Parkinson to the Board of Directors

Ian Parkinson had a successful 16-year career as a sell-side mining analyst for a series of leading Bay Street brokerage firms. Most recently Ian was Managing Director, Mining Equity Research at Stifel GMP. Prior to Stifel, Ian's brokerage career included time at GMP Securities and CIBC World Markets. Before moving to the brokerage industry, Ian spent 10 years with Falconbridge and Noranda (now Glencore) gaining broad experience across the mining business including geology, metals marketing and business development. Ian is a graduate of Laurentian University in Sudbury where he was born and raised.

Ian is currently the CEO of Halcones Precious Metals, a South American focused exploration company and serves as Executive Vice President Corporate Development for Emerita Resources which is focused on advancing several base metals projects in Spain. He is Troilus Gold Corporation's nominee to the Board as per the terms of the Property Purchase Agreement for the ML Property announced on January 3, 2024.

Dr. Rob Carpenter, P. Geo, CEO of Prospector, stated, "We are thrilled to welcome Ian Parkinson as our newest Director at Prospector. His wealth of experience and strategic vision will undoubtedly contribute to our success as advance our newly acquired ML Project in the Yukon."

The Company also announces today the resignation of Michael Murphy as Director. Mr. Murphy has been a Director of the Company since 2018. In his resignation, Mr. Murphy wished the Company's management team every success in the future.

"On behalf of the members of the Board, the management team of Prospector, I would like to thank Michael for his valued contributions and commitment over the years," said Craig Roberts, Co-Chairman of Prospector. "We wish Michael all the best in his future endeavours."

The Company announces that it has granted, under its Equity Incentive Plan, incentive stock options to certain directors of the Company to purchase an aggregate of up to 300,000 common shares exercisable for a period of up to five years from the date of grant at a price of $0.22 per share. This grant is subject to acceptance by the TSX Venture Exchange.

About Prospector Metals Corp.

Prospector Metals Corp. is a Discovery Group Company focused on district scale, early-stage exploration of gold and base metal prospects. Creating shareholder value through new discoveries, the Company identifies underexplored or overlooked mineral districts displaying important structural and mineralogical occurrences similar to more established mining operations. The majority of acquisition activity occurs in Ontario, Canada - a Tier-1 mining jurisdiction with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders, and seeking to develop partnerships and agreements that are mutually beneficial to all stakeholders.

On behalf of the Board of Directors,
Prospector Metals Corp.

Dr. Rob Carpenter, Ph.D., P.Geo.
President & CEO

For further information about Prospector Metals Corp. or this news release, please visit our website at prospectormetalscorp.com or contact us by email at info@prospectormetalscorp.com.

Prospector Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca.

Forward-Looking Statement Cautions:

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other project opportunities. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective,", "strategy", "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company's exploration plans, the risk of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

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.