Prospector Appoints Michael Rockandel as Vice President, Corporate Communications

Rhea-AI Summary

Prospector Metals (OTCQB: PMCOF) appointed Michael Rockandel as Vice President, Corporate Communications and outlined operational and financing updates.

The company is preparing a 25,000m drill program at the ML Project in Yukon with drilling contracts and an anticipated start date of May 15, 2026. A board-approved $15 million 2026 budget is fully financed from a treasury of over $43 million. All warrants expiring March 5 were exercised: 18,699,544 warrants for proceeds of CAD $5,609,863. Grants: 2.4M DSUs, 1.54M RSUs, and 450k options at C$1.22, subject to TSXV approval and vesting.

Positive

• Board-approved $15.0M 2026 budget fully financed from a $43M+ treasury
• Drill program: 25,000m planned with contracts and anticipated start May 15, 2026
• Warrant exercise raised CAD $5.61M from 18,699,544 warrants
• Equity incentives granted: 2.4M DSUs, 1.54M RSUs, 450k options

Negative

• Insider and adviser exercise concentration may reduce future insider liquidity signalling reliance on internal support
• Options exercisable at C$1.22 could create dilution if fully exercised within five years

News Market Reaction – PMCOF

-0.21%

1 alert

-0.21% News Effect

On the day this news was published, PMCOF declined 0.21%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - March 17, 2026) - Prospector Metals Corp. (TSXV: PPP) (OTCQB: PMCOF) (FSE: 1ET) ("Prospector" or the "Company") today announced the appointment of Mr. Michael Rockandel to the position of Vice President, Corporate Communications.

Rob Carpenter, Ph.D., PGeo., President, CEO and Co-Chairman of Prospector, stated "Michael has been an integral part of Prospectors team since joining fulltime and he is a welcome new member to Prospector's senior management team. Michael brings a hard working and dedicated philosophy to his workday and I am looking forward to working with him in his new role."

Prospector is currently preparing for its 25,000m drill program at the ML Project in Yukon. Drilling contracts are in place for an anticipated start date of May 15^th. A board approved budget of $15 million for 2026 is fully financed from a treasury of over $43 million.

Warrant Exercise Update

Prospector would also like to announce that all warrants that were due to expire on March 5^th have been exercised. In total 18,699,544 warrants have been exercised at a price of CAD $0.30, for proceeds of $5,609,863. Significantly, many of these warrants were exercised by Company insiders and advisers, demonstrating continued confidence and support in the Prospector business model.

Share Incentive Grant

The Company announced that it granted 2,400,000 deferred share units ("DSUs"), 1,540,000 restricted share units ("RSUs") and 450,000 incentive stock options ("Options") to certain directors, officers, employees and consultants of the Company as part of its annual compensation review. Such grants are subject to TSX Venture Exchange approval. Each Option is exercisable to purchase one common share of the Company for five years at a price of C$1.22 per common share. The DSU's, RSU's and Options were granted in accordance with the terms of the Company's omnibus incentive plan (the "Plan") and will be subject to vesting according to the Plan.

About Prospector Metals Corp.
Prospector Metals Corp. is a proud member of Discovery Group. The Company is 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 Yukon and Ontario, Canada – Historical mining jurisdictions with an abundance of overlooked geological regions possessing high mineral potential. Prospector establishes and maintains relationships with local and Indigenous rightsholders and seeks to develop partnerships and agreements that are mutually beneficial to all interested parties.

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 Prospector at 1-778-819-5520 or 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:

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288783

FAQ

Who is Michael Rockandel and what role did Prospector (PMCOF) announce on March 17, 2026?

Michael Rockandel was appointed Vice President, Corporate Communications at Prospector. According to the company, he joins senior management to lead communications and public relations during the ML Project drill phase.

When will Prospector (PMCOF) begin its 25,000m ML Project drill program and what preparations are in place?

The drill program is anticipated to start on May 15, 2026. According to the company, drilling contracts are signed and operational preparations are underway for the 25,000m program.

How much funding did Prospector (PMCOF) secure from warrant exercises in March 2026?

Prospector raised CAD $5,609,863 from warrant exercises. According to the company, 18,699,544 warrants were exercised at CAD $0.30, providing immediate treasury cash.

What is Prospector's (PMCOF) 2026 budget and how is it financed?

The company approved a $15 million budget for 2026 fully financed from a treasury of over $43 million. According to the company, available cash covers the planned program and expenses.

What equity incentives did Prospector (PMCOF) grant on March 17, 2026 and what are the option terms?

Prospector granted 2.4M DSUs, 1.54M RSUs, and 450k options. According to the company, each option is exercisable for five years at C$1.22, subject to TSXV approval and vesting.

Do insider warrant exercises affect investor confidence in Prospector (PMCOF)?

Insider and adviser warrant exercises can be viewed as a confidence signal. According to the company, many exercises came from insiders and advisers, indicating continued internal support for the business plan.