Prime Mining Unveils Impressive Q2 2025 Financial Results

Prime Mining Corp's Q2 2025 Financial and Operating Overview

Prime Mining Corp. (TSX: PRYM) (OTCQX: PRMNF) is pleased to release its financial results for the quarter that concluded on June 30, 2025. The company, recognized for its exploration and development of the high-grade Los Reyes Gold-Silver Project, has shown remarkable financial growth and operational advancements during this period.

Key Operational Achievements

Scott Hicks, Chief Executive Officer, expressed enthusiasm regarding the company’s significant developments in the second quarter. Prime's engagement with Ausenco to lead the Preliminary Economic Assessment for Los Reyes represents a critical step in their strategic project roadmap. The company also successfully exercised 97% of its warrants this June, significantly boosting their cash reserves to $32.7 million.

Strategic Acquisition Announcement

In a highly transformative move, Prime revealed a proposed acquisition by Torex Gold Resources Inc. on July 28, 2025. This share-based transaction not only offers immediate value to shareholders but also provides continued participation in the evolution of the Los Reyes project alongside the renowned Torex Morelos Complex.

Corporate Milestones

Throughout the quarter, several corporate milestones were achieved, including but not limited to:

• The release of the 2024 Financial and Operating Results on May 12.
• The selection of Ausenco Engineering on May 28 to spearhead the Preliminary Economic Assessment on Los Reyes.
• 97% of the outstanding $1.10 warrants were exercised by June 17.
• Results from the annual general meeting on June 20, where all nominated directors were elected, reflecting strong shareholder support.

Project Highlights

During the second quarter, notable progress was made regarding the Los Reyes Gold-Silver Project. The collaboration with Ausenco is expected to catalyze significant advances in understanding the project's economic viability.

Health and Safety Commitments

Prime Mining emphasizes health and safety protocols in all its operations. The company maintains close engagement with local stakeholders while adhering to regulatory health directives in both Mexico and Canada, ensuring a safe working environment.

Environmental and Community Engagement Strategies

Prime Mining continues its efforts to enhance environmental stewardship and community engagement. The company is actively gathering data to support its Environmental, Social, and Governance (ESG) programs, which are designed to reduce its operational footprint while positively impacting local communities.

Financial Highlights

The financial data for the six months ending June 30, 2025, highlight critical metrics:

• Loss of $6,168,319 compared to a loss of $11,935,978 for the same period in 2024.
• Basic and diluted loss per share stands at $0.04, an improvement over $0.08 from last year.
• Remarkable cash availability of $32,749,255 as of June 30, 2025, demonstrating strong liquidity.
• Total assets reached $46,929,802, illustrating robust growth.

Outlook for 2025

Looking forward, Prime Mining is aligning strategic efforts towards finalizing the acquisition by Torex Gold, targeting shareholder votes for approval on September 29, 2025. The completion of this transaction is anticipated to usher in new growth opportunities for both entities.

About the Los Reyes Gold-Silver Project

The Los Reyes project is a high-grade, low-sulphidation epithermal gold-silver initiative located in Mexico. With substantial investment in exploration since 2019, including over 221,000 meters drilled and over $66 million spent, Prime Mining is committed to unlocking the full potential of this project.

Future Directions and Exploration

The company has paused drilling activities due to security concerns in parts of Sinaloa but remains prepared to resume as conditions improve. The team continues to work diligently with local authorities to monitor the situation closely.

Frequently Asked Questions

What financial results did Prime Mining report for Q2 2025?

Prime Mining reported a loss of $6,168,319, showing improvement from the previous year, with a basic loss per share of $0.04.

Who was selected to lead the Preliminary Economic Assessment?

Ausenco Engineering was chosen to lead the PEA study work on the Los Reyes project.

What major acquisition was announced by Prime Mining?

Prime Mining disclosed a proposed acquisition by Torex Gold Resources Inc., which will offer immediate shareholder value and reduced risks.

What steps is Prime taking toward environmental responsibility?

The company is gathering community data to support ESG programs aimed at minimizing its environmental impact.

When is the shareholder vote regarding the acquisition scheduled?

The shareholder vote is planned for September 29, 2025, to finalize the acquisition transaction.

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