PrimeMining Corp. is reporting generative drilling results from the Company?s Los Reyes Project (the ?Project?), located in Sinaloa State, Mexico. These results are from 2024 drilling at the Las Primas generative target and are not included in the Company?s May 2, 2023 Mineral Resource Estimate (?MRE?).

The Company is reporting 11 core holes at Las Primas with the following highlights: 11.81 grams per tonne (?gpt?) gold-equivalent (?AuEq?) (4.07 gpt Au and 598.1 gpt Ag) over 3.0 metres (?m?) estimated true width (?etw?) in hole 24LP-30, including: 19.8 gpt AuEq (6.77 gpt Au and 1007.1 gpt Ag) over 1.7 m etw 3.42 gpt AuEq (1.44 gpt Au and 153.1 gpt Ag) over 9.4 m etw in hole 24LP-33, including: 4.48 gpt AuEq (1.94 gpt Au and 196.1 gpt Ag) over 5.0 m etw, 1.75 gpt AuEq (0.83 gpt Au and 71.1 gpt Ag) over 3.6 m etw in hole 24LP-24 1.75 gpt AuEq (1.21 gpt Au and 41.9 gpt Ag) over 3.8 m etw in hole 24LP-28, including: 2.75 gpt AuEq (1.78 gpt Au and 74.7 gpt Ag) over 2.1 m etw same area with more modest silver grades. 24LP-24 and 24LP-28 are to the east of ?33 and -30 and demonstrate good gold-equivalent grades over wide intersections. These holes are also 60m down-dip from 23LP-18, which was one of Prime?s best intercepts from Las Primas (see news release January 10, 2024).

The structure intercepted in 23LP-18, 24LP-24, and -26 remains open down-dip. Mineralization at Las Primas appears continuous along a strike length of 510m, measured from drill hole 23LP-11 (previously released, see news release September 6, 2023) to 24LP-23. Las Primas mineralization appears in multiple, steeply northeast- and southwest-dipping structures.

Given the similarities to the host lithology and the Laija flower structure of Guadalupe East, a key focus for further exploration at Las Primas is to identify the main source for mineralizing fluids, as with the Estaca vein at Laija. As noted in prior Las Primas news releases, Las Primas appears to have multiple points of similarity to Guadalupe East, including: High-grade silver, including multiple kilogram grades, which to-date have been unique to Guadalupe East. 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.

2024 Outlook: Prime is targeting 40,000 metres in its 2024 drill program and will continue to evaluate drilling plans using its success-based approach. This evaluation will also include prioritization of targets based on probability of resource development and generative area discovery potential. Four drill rigs are currently active on site at Los Reyes, with 2024 exploration focused on: Extending the high-grade Z-T Area shoots that remain open at depth, as well as along strike, both north and south.

Expanding the known high-grade mineralization at Guadalupe East. Increasing the Central Area resource through additions at Noche Buena and its connection to San Miguel East. Generative target drilling of high-grade intercepts at Las Primas, Mariposa, Fresnillo, Mina and others to further develop the resource potential at Los Reyes.