Prime Mining Corp. announced that it is reporting expansion and generative drill results from its 2023 drill program at the Company?s Los Reyes Project, located in Sinaloa State, Mexico. Drilling at Las Primas has intercepted several new high grade mineralized structures that appear to have many similarities to Guadalupe East, located 500m to the northeast.

This discovery highlights the potential at Las Primas, which lies entirely outside of the previously reported 2023 Mineral Resource Estimate (?MRE?). Early mineralization modeling suggests a vertical extent of over 300m and 450m along strike. Drill hole 23GE-147 at Guadalupe East contains one of the highest grade intercepts ever recorded at the Project, with 45.3 gpt Au and 2,723 gpt Ag over 4.75m estimated true width (80.6 gpt AuEq).

23GE-147 expands the very-high grade mineralization along several antithetic structures within the 2023 resource pit and returned substantially higher grades than previously estimated in many instances. The Guadalupe Zone hosts approximately one-half of the Indicated gold-equivalent ounces reported in the MRE. Z-T, Central and Guadalupe are the three main zones hosting the gold-silver MRE at the Los Reyes Project.

As noted earlier, Las Primas appears to have multiple points of similarity to Guadalupe East, including: Surface mapping and drill intercepts to date show a network of quartz veins similar to the Laija area of Guadalupe East, with antithetic, steeply NE-dipping veins emanating from steeply SW-dipping veins. High-grade silver, including multiple kilogram grades, which to-date have been unique to GE. Geochemical and Short-wave Infrared (SWIR) mineralogical analyses from Las Primas show similar pathfinder geochemistry and alteration mineralogy to Guadalupe East, with highly elevated silver to gold ratios, anomalous base metal concentrations, and pervasive adularia alteration observed in both target areas.