Prospector awarded $200,000 OJEP grant for exploration at Devon Ni-Cu Project

Prospector Metals Corp. is pleased to provide an update for the Devon Ni-Cu Project in NW Ontario. While Prospector is primarily focused on the ML project in the Yukon, the Devon Ni-Cu Property remains a robust pipeline project that adds significant value and exposure to additional value streams.

The Company has been approved by the Ontario Junior Exploration Program (OJEP) to receive a $200,000 grant to help fund exploration activities within the province of Ontario. The OJEP grant, a provincial program aimed at incentivizing exploration in the critical-minerals sector, supports the discovery and development of mineral resources vital to the global green transition by providing grants that cover 50% of eligible exploration expenditures. To date, Prospector has incurred approximately $250,000 in eligible expenditures (completed property-wide VTEM geophysical survey) and will incur an additional $150,000 in fully funded expenditures on prospecting and ground truthing of the resulting geophysical anomalies. A 2-week field program to test the geophysical targets has commenced and results will be announced when available.

"Our Ontario nickel and gold projects offer Prospector investors year-round access to exploration results in a Tier 1 political jurisdiction and our results to date at the road accessible Devon Ni-Cu Project justify detailed ground investigation of priority geophysical targets followed by initial drilling in early 2025. These funds are greatly appreciated and will be used directly in the ground."

Devon Nickel Project Highlights

• The Devon Project lies on the Mesoproterozoic Midcontinent Rift system (MSR) which hosts a diverse suite of magmatic and hydrothermal mineral deposits in the Lake Superior region where rift rocks are exposed at or near the surface. Historically, hydrothermal deposits, such as Michigan's native copper deposits and the White Pine sediment-hosted stratiform copper deposit, were major MRS metal producers. 
• The Devon Project comprises 12,200 hectares acquired through staking, 50km SW of Thunder Bay Ontario, and is road accessible (Figure 1) and is intruded by numerous mafic-ultramafic intrusives (Crystal Lake Gabbro, Pigeon River and Logan intrusives), mostly dyke-form intrusions, which can contain disseminated to locally massive magmatic Ni-Cu sulfides with PGEs. The dykes are emplaced along normal faults which provide ideal conduits for deep seated fertile mafic magmas to rise quickly through the crust without losing their chalcophile elements or PGEs.
• Significant portions of the area remain underexplored despite its favourable setting and ease of access. Most of the historic work in the west was focussed on vein and breccia hosted silver mineralization
• A VTEMTM Plus survey covering approximately 1500 line km's over three blocks, at a line spacing for 150m was completed during the summer 2024. The VTEMTM Plus survey is excellent for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity, both of which are critical in identifying covered sulphide bearing targets at the Devon Project.
• Recent field work completed by Prospector returned samples with up to 1.125 % Cu, 0.53 % Ni, and 3.54 g/t Pd+Pt, and 0.123 % Co.
• At the Copper Hill Occurrence, angular boulders returned assays of up to 1.125 % Cu, 0.4 % Ni, and 2.35 g/t Au+Pd+Pt and 1.015 % Cu, 0.298 % Ni, and 3.81 g/t Au+Pd+Pt. Over a dozen similarly mineralized angular blocks were noted within an area several hundred metres in extent, ranging from 15 cm cobbles up to several angular boulders greater than 1 m in diameter.
• Multiple occurrences along the Pigeon River dykes were identified in outcrop returned assays of up to 0.73 % Cu, 0.53% Ni, 0.114 % Co, and 0.22 g/t Au+Pd+Pt, 0.64 % Cu, 0.437 % Ni, and 0.267 g/t Au+Pd+Pt, and 0.47% Cu, 0.097 % Ni, and 0.404 g/t Au+Pd+Pt.
• Target deposits are analogous to Eagle & Eagle East, MI, USA Tamarack, MN, USA, and Voisey's Bay Reed Brook Zone, NL (massive to net textured high-grade Ni-Cu-PGE deposits) or Current Lake, Ontario (PGE-dominant, heavily disseminated magmatic sulfides).

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