Shallow copper footprint emerging at West Mwombezhi

Prospect Resources Limited is pleased to advise of receipt of final assay results from drilling of the West Mwombezhi prospect at its Mumbezhi Copper Project (90% Prospect) (Mumbezhi) in north-west Zambia during the Phase 2 exploration activities undertaken last year.

Prospect’s Managing Director and CEO, Sam Hosack, commented:

“We are encouraged by the latest results from West Mwombezhi, which point to a compelling emerging opportunity that enhances the broader regional potential at Mumbezhi. Recent diamond drilling has confirmed a continuous, near‑surface copper sulphide system extending for more than 1km of strike, remaining open to the west and south. In addition, strong copper-in‑soil anomalism continues for over 1km south of the current drill footprint, reinforcing the scale potential of the system.

“These positive outcomes will feed directly into the maiden Mineral Resource estimate for West Mwombezhi, which remains on schedule for completion in Q2 2026. West Mwombezhi and other regional targets offer meaningful upside still to be unlocked across the licence, with further copper, gold and cobalt potential expected to emerge through targeted follow‑up drilling. This work will form an integral part of planned exploration programmes across Mumbezhi Project as we continue to advance a district‑scale opportunity.

“We still await a complement of additional assays to complete the assessment of gold potential within the previously reported copper intercepts across Nyungu Central.

Final West Mwombezhi assay results

Prospect has received all assays from the diamond drilling programme conducted last year at the West Mwombezhi prospect at Mumbezhi, located approximately 13km north-northwest of the flagship Nyungu Central deposit.

This programme consisted of twelve (12) drill holes (including one re-entry) for a total of 2,217.6m drilled. The drilling in the West Mwombezhi area targeted an approximate 1km2 zone in the northern portion of the Mumbezhi licences, located around 25km east of First Quantum’s Sentinel open-pit mining operations near Kalumbila.

The programme tested an area with limited historical drilling by previous operators1, and was supported by recent geophysical2 and geochemical surveys, together with shallow aircore (AC) drilling3, which were completed during 2024 and 2025.

The diamond drilling programme has identified two distinct, narrow zones of near-surface, high- grade copper sulphide mineralisation, dipping approximately 15° to the west and remaining open to the west and the south.

Mineralisation is generally laminated and occurs as disseminated blebs and clots, with higher copper grades hosted within a biotite-rich, coarse-grained, kyanite-bearing ore schist horizon interleaved with feldspathic gneissic lithologies.

The prospect area is characterised by a relatively thin oxide-transitional zone, with most of the copper mineralisation confined to fresh rock and occurring predominantly as chalcopyrite. Sphalerite, pyrrhotite and pyrite were also identified during geological core logging.

Structurally, the two mineralised zones intersected may be related as either thrusted or bifurcating lodes. This is supported by recent surface geochemical data indicating potential continuity of these zones to the south and west, which clearly shows elevated Cu/Sc (copper to scandium) ratios well in excess of 2:1, which is typically indicative of the presence of copper as sulphide minerals in the Zambian Copperbelt.

Significant copper drilling intersections returned from this programme include:

• 8.9m @ 0.78% Cu from 54.6m, incl. 7.0m @ 0.93% Cu from 54.6m (MWDD004)
• 6.7m @ 0.57% Cu from 86.0m, incl. 4.2m @ 0.75% Cu from 88.5m (MWDD009)
• 5.8m @ 0.44% Cu from 145m (MWDD001)
• 5.0m @ 0.47% Cu from 85.0m, incl. 2.7m @ 0.78% Cu from 87.3m (MWDD002)
• 4.9m @ 0.49% Cu from 89.1m and 3.9m @ 0.53% Cu from 48.1m (MWDD005)
• 5.0m @ 0.41% Cu from 42.0m (MWDD006)

All copper assay data will be incorporated into a maiden MRE for West Mwombezhi, which is expected to be finalised during Q2 2026.

Gold deportment at West Mwombezhi remains under evaluation, with historical assays returning values of up to 0.17 g/t Au associated with higher-grade copper mineralisation. A targeted re-assaying programme, utilising mineralised intervals from the 2025 drill campaign, is currently underway to further assess the extent of the gold endowment at this prospect.