Prime Announces Selection of Ausenco to Lead PEA Study Work

Core Viewpoint - Prime Mining Corp. is advancing its Preliminary Economic Assessment (PEA) for the Los Reyes gold-silver project, targeting completion in Q3 2025, with a focus on high returns, low capital costs, and long project life [1][2][3] Company Overview - Prime Mining has invested over $64 million in direct exploration activities since acquiring Los Reyes in 2019, completing over 221,000 meters of drilling [2][7] - The company aims to enhance its resource base through exploration and technical de-risking activities [20] Project Details - The PEA will be based on drilling data up to the end of 2024 and will incorporate extensive technical work completed to date [2] - The project is characterized as a high-grade, low-sulphidation epithermal gold-silver project located in Sinaloa State, Mexico [7] - The PEA is expected to highlight a project with high returns, high margins, low capital requirements, and a long operational life [2][7] Exploration Plans - Six drill rigs are currently operational at Los Reyes, with plans to extend high-grade mineralization and identify new prospective targets [5] - Planned activities include geological mapping, geochemical sampling, and drilling in areas with high-grade intercepts [5] Community Engagement - The company is committed to engaging with local communities through educational and environmental programs, as well as infrastructure development [5] Technical Expertise - Ausenco Engineering Canada ULC has been selected to lead the PEA due to its extensive experience with similar projects in Mexico [3][4]