Prism Resources Announces Shareholder Approval for Royalty Sale to Agnico Eagle

Vancouver, British Columbia--(Newsfile Corp. - July 23, 2026) - Prism Resources Inc. (TSXV: PRS.H) (the " Company " or " Prism ") is pleased to announce that, at the annual general and special meeting (the " Meeting ") of holders (" Shareholders ") of common shares in the capital of the Company (" Shares ") held today, Shareholders voted in favour of the previously announced sale of its right, title and interest in and to a 7.5% net profit interest royalty over certain properties in the Porcupine Mining District of Ontario, which royalty constitutes substantially all of the assets of the Company, to Agnico Eagle Mines Limited (" Agnico "), pursuant to the royalty purchase agreement dated June 3, 2026 between the Company, as seller, and Agnico, as purchaser, for total cash consideration of $5,000,000 (the " Transaction "). Shareholders holding a total of 33,354,634 Shares were represented in person or by proxy at the Meeting, representing 64.21% of the 51,945,393 issued and outstanding Shares entitled to vote as of June 12, 2026, the record date for the Meeting. The special resolution approving the Transaction (the " Transaction Resolution ") required the approval of (i) at least 66⅔% of the votes cast on the Transaction Resolution by all Shareholders present in person or represented by proxy at the Meeting; and (ii) a majority of votes cast on the Transaction Resolution by disinterested Shareholders present in person or by proxy at the Meeting, which excludes votes attached to Shares held by Agnico and certain directors of the Company, as required under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions and the policies of the TSX Venture Exchange (the " TSXV "). Of the votes cast at the Meeting, 93.81% of the votes cast by all Shareholders were in favour of the Transaction Resolution, and 90.74% of the votes cast by disinterested Shareholders were in favour of the Transaction Resolution. All other motions tabled at the Meeting, including the election of Brian Kerzner, Timothy Moody, Robert Parsons, Scott Ross and Patrick Evans to the board of directors of the Company, the appointment of Crowe MacKay LLP as the Company's auditor, and the re-approval of the Company's stock option plan, also passed. Completion of the Transaction is subject to the satisfaction of customary closing conditions for a transaction of this nature, including final approval of the TSXV. Subject to the satisfaction (or waiver) of the closing conditions, it is expected that the Transaction will be completed by the end of the month. In addition, the proposed issuance of 33,333,333 Shares in settlement of accrued management and directors' fees (the "Shares for Services"), as disclosed in the management information circular of the Company dated June 22, 2026, remains subject to the approval of the TSXV and the Company continues to actively pursue approval from the TSXV in that regard. About Prism Resources Prism Resources Inc. is a Canadian precious metals explorer and developer headquartered in Vancouver, British Columbia. Prism Resources is comprised of a strong group of directors with significant experience and a well-established track record in the resources sector globally. The Company currently holds a 7.5% Net Profit Interest on Agnico's Aurora and Sunday Lake properties. ON BEHALF OF THE BOARD OF DIRECTORS Brian Kerzner President, CEO and Director For more information contact: Brian Kerzner E : [email protected] Scott M. Ross E : [email protected] T : 604-803-4883 FORWARD-LOOKING STATEMENTS This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). Forward-looking statements are typically, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "plans," "will," "may," "could," "should," "would," "estimate," "forecast," "project," "continue,...