Prismo Metals : May 2024

CSE: PRIZ

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FSE: 7KU

Copper in Arizona Gold & Silver in Mexico

May 2024

www.prismometals.com

PRISMO METALS

Disclaimer

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Non-Reliance

This presentation does not provide full disclosure of all material facts relating to Prismo Metals Inc., or its securities, and is not subject to liability for misrepresentations under applicable securities legislation.

General

This presentation is property of Prismo Metals Inc. (the "Company", "Prismo", "us" or "we") and is strictly confidential. It cannot be circulated or forwarded without our consent. Any graphs, tables or other information demonstrating our historical performance or that of any other entity contained in this presentation are intended only to illustrate past performance and are not necessarily indicative of our or such entities' future performance. The information contained in this presentation is accurate only as of the date of this presentation or the date indicated. No securities regulatory authority has expressed an opinion about the securities described herein and it is an offence to claim otherwise.

Cautionary Note Regarding Forward-Looking Information

This presentation contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information may relate to our future financial outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategies, addressable markets, budgets, operations, expected future financial results - including revenues expectations as stated herein, plans and objectives. In some cases, forward-looking information can be identified by the use of forward looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "budget", "scheduled", "estimates", "outlook", "forecasts", "projection", "prospects", "strategy", "intends", "anticipates", "does not anticipate", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will", "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information.

Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. This forward-looking information and other forward-looking information are based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. Certain assumptions in respect of our ability to execute our growth strategies; our ability to retain key personnel; our ability to maintain and expand geographic scope; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; the changes and trends in our industry or the global economy; and the changes in laws, rules, regulations, and global standards are material factors made in preparing forward-looking information and management's expectations. When relying on forward-looking statements to make decisions, we caution readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which

such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements, including Prismo's limited financial history, including a history of losses, the early stage of the business, operating in an industry populated with significantly larger competitors, dependence on management, rapid technology changes, and infringement of intellectual property rights.

All forward-looking information in this presentation is made as of the date hereof. Except as expressly required by applicable law, we assume no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

All of the forward-looking information contained in this presentation is expressly qualified by the foregoing cautionary statements.

Non-IFRS Measures and Industry Metrics

This presentation may make reference to non-IFRS measures, which are financial and operating metrics used in our industry. These non- IFRS measures and industry metrics do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. this is used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use non-IFRS measures and industry metrics in the evaluation of issuers. Our management also uses non-IFRS measures and industry metrics in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation.

Completion of investor documentation

Any securities issued to investors by the Company shall not have been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America, its territories or possessions, any state of the United States or the District of Columbia (collectively, the "United States") or to, or for the account or benefit of, persons in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable U.S. state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful.

Any securities issued to investors by the Company shall not have been recommended by any Canadian provincial securities or regulatory authorities, the United States Securities and Exchange Commission or any state securities commission or regulatory authority, nor have any of the foregoing authorities passed on the accuracy or adequacy of this presentation or the offering. Any representation to the contrary is a criminal offense.

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CATALYST RICH

Exploration Portfolio

< C$10m Market Capitalization

Hot Breccia:	Panuco District:
Partnership with Vizsla
Large Cu Prospect in Arizona
Potential liquidity event

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Los Pavitos:

Multi-million oz potential

• Copper-goldin Arizona, adjacent to past- producing skarn Christmas copper mine
• Historic Kennecott & Phelps Dodge drilling intersected hydrothermal alteration within volcanics - Paleozoic carbonate host units have multiple holes at +1%Cu

• Vizsla / Prismo technical committee focused on district scale potential: Dr. Peter Megaw (Prismo); Dr. Jesus Velador (Viszla);
  & Dr. Craig Gibson (Prismo)
• Drilling highlights at Palos Verdes: 102g/t Au, 3,100g/t Ag (11,520g/t AgEq) over 0.5m

• Unexplored new gold district - shear-hosted orogenic gold potential, analogous to some of Sonora's largest gold mines
• Initial project drilling yielded 10.2 g/t Au, 47g/t Ag over 6.65m in hole LPSC23-02
• Key drivers: Dr. Peter Megaw / Rafael Gallardo

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PRISMO METALS

About

Successful Explorers

Steve Robertson

President

Dr. Craig Gibson

Co-Founder & Chief

Exploration Officer

Rafael Gallardo

Director

Dr. Peter Megaw

Advisor & Significant

Shareholder

Capital Markets

Alain Lambert

CEO

Carmelo Marrelli

CFO

Louis Doyle

Director

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INVESTMENT HIGHLIGHTS

Summary

• Experienced technical and capital markets team
• Low overheads: no fixed salaries
• Tight share structure:
  ⬥Only 44.6 million shares outstanding ⬥Market cap: $7.4 million (April 26,2024)

⬥29.3% ownership by insiders, founders

• • advisors
• Three projects at drill stage
• Vizsla Silver is a strategic investor ⬥9.0% ownership

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HOT BRECCIA

Tier | Copper Jurisdiction

• 10 major copper mines in Arizona produce 23 to 632 million pounds of copper per year.
• Infrastructure: highway, water, power lines, Hayden smelter, Asarco concentrator.
• Most of the copper mined in Arizona comes from porphyry copper deposits, with copper ore associated with intrusive igneous rocks similar to granite.

Copper Deposit	Total Cu Endowment (Blb Cu)
Morenci	74.7
Resolution	60.1
Miami	22.0
Ray	21.0
Sierrita-Esperanza	13.2
Pinto Valley	12.6
San Manuel-Kalamazoo	11.8

References: USGS, 2005 Mineral Resources Data System, various USGS reports

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HOT BRECCIA

Location

• 1,420 hectares 4 km S of the Christmas mine, with same geology
• Past production(1) : ~25Mt of ore with 363 Mlb Cu, 2.1 Moz Ag, 55,026 oz Au
• Expansion drilling by Freeport, mineral resources(2): 402 MT, 0.39% Cu, 0.06 g/t Au, 1.03 g/t Ag (3.5 Blb Cu, 0.7 Moz Au, 13.3 Moz Ag)
• Christmas is a model for Hot Breccia mineralization

• Associated with intermediate intrusive rocks into favorable sedimentary rocks that are covered by an andesitic volcanic sequence
• Historic drill holes from 70's and early 80's on and near the property

Christmas Mine, looking west up Copper Canyon, circa 2010 (photo provided by Ken Krahulec)

(1) US Bureau of Mines data reported by Arizona Geological Society, White & Thoman, April 20;

6 (2) Freeport 2023 annual report, pages 44 and 45.

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CROSS SECTION THROUGH CHRISTMAS DEPOSIT

Model

Reference:

Briggs, D.F., 2021, History of the Christmas Mine, Gila County, Arizona. Arizona Geological Survey Contributed Report CR-21-A, 45 p.

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HOT BRECCIA

The Target

• The same productive geologic units that host high-grade, copper skarn mineralization at the adjacent, past-producingChristmas Mine, have been found at Hot Breccia
• The Hot Breccia target is similar to the past producing Christmas Mine but is covered by volcanic rocks
• Breccias exposed in the area of past drilling
• • Polylithic breccias, mainly andesite and intrusive fragments, with some fragments of limestone and quartzite brought up from depth.
  • Some fragments mineralized
  • Copper and gold mineralization in the area of the breccia exposures

Sample	Type		Sampler	Width (m)	Cu_%	Au g/t
84835	Chip		Vendor, 1989		1.28	0.062
84836	Selected		Vendor, 1989		-	18
84837	Selected		Vendor, 1989		0.55	28
84843	Selected		Vendor, 1989		-	1.2
84844	Selected		Vendor, 1989		-	2.4
W147768	Subcrop grab		Vendor, 2023	2.0	1.17	0.074
22008	Channel		Prismo	1.0	1.11	3.75

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		BrecciaDISCOVERYdike or& EXPLORATIONpipe cutting up| WWWthrough.PRISMOMETALSvolcanic cover.COM
7
		(Courtesy: Walnut Mines LLC)

HOT BRECCIA

The Target

• Fragments of mineralized rocks have been brought up from depth in a quartz porphyry intrusion near the property's namesake breccia
• • Magnetite skarn with oxide copper minerals
  • Garnet skarn, gossanous material
  • Limestone, marble, quartzite

Cu-bearing magnetite skarn

Gossanous Garnet

material skarn

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HOT BRECCIA

Historic Drill Holes

• Kennecott drilled seven holes from 1972 to 1981 and Phelps Dodge drilled two holes on and near the property
• All drill holes reported:
• • hydrothermal alteration within the volcanics, increasing intensity downwards
  • Paleozoic carbonate host units have several copper intercepts reported to exceed 1% + zinc
• Kennecott reported highlights:
• • OC-1:77' with 0.54% Cu at 2,100'
  • OCC-7:60' with 1.4% Cu, 4.65% Zn at 2,900'
  • OCC-8:25' with 1.73% Cu and 0.11% Zn at 2,305' and 15' with 1.4% Cu and 0.88% Zn at 2,350'
• Phelps Dodge drill hole PD 2 reported:
• • 1,270 feet of variably mineralized skarn with several intercepts >1% copper and a high of
    3.16% copper

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	Le g e nd
Christmas Mine		Historica l Drill
	Hole s
		Hot Bre ccia
		Prope rty
		Sa n Ca rlos
		Apa che
		Re se rva tion
					CarlosApache Reservation
OC-	OC-	OC-
	3
5	6				PD
	OC-	OC-1			2
2	OC-

OC8- 7

PD 1

To

Tucson

9

HOT BRECCIA

Recent exploration

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• Numerous small historic mines and prospect pits were identified by a LiDAR survey conducted in 2023.
• Gold mineralization ranging from anomalous values of 0.1-0.3g/t to 28 g/t with local copper has been encountered at the surface associated iron oxides and dike margins.
• Recent work includes visits to numerous of the historic workings where 32 samples were taken, assays pending.

Copper (left) and gold geochemistry and small mines and prospects shown on the LiDAR survey.

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