Prospect obtains impressive gold re-assay results from Nyungu Central in Zambia

• Re-assaying further confirms significant gold mineralisation across deposit
• 59 holes re-assayed since January 2026 in major gold testing program
• All gold re-assaying results to be incorporated into updated MRE
• Growth-focussed phase three 2026 drilling at Mumbezhi imminent

Prospect Resources (ASX:PSC) has further confirmed significant gold mineralisation across the Nyungu Central deposit, with promising new results from a major re-assaying program at the Mumbezhi copper project in north-west Zambia.

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The company, which holds a 90% interest in Mumbezhi, has re-assayed 59 holes obtained from its phase one and two drill programmes and historical drilling at the project.

Significant new gold results include 29 metres at 0.22 grams per tonne (g/t) from 47 metres; 27.7m at 0.21 g/t from 172m; 21m at 0.19 g/t from 74m, 7.3m at 0.41 g/t from 20m; and 2.5m @ 0.78 g/t Au from 155m.

Prospect’s MD and CEO, Sam Hosack, said the significant gold (and cobalt) credits identified in re-assaying have identified excellent potential to drive Mumbezhi’s forecast operating costs lower on the global cost curve.

“These results add further weight to the reality of this gold by-product opportunity,” Mr Hosack said today. “The extent of this opportunity is expected to become more apparent with the pending completion of an updated MRE for Nyungu Central, inclusive of the significant gold re-assay outcomes.”

An updated indicated and inferred mineral resource estimate (MRE) for Nyungu Central is expected during Q2 2026.

Meanwhile, Mr Hosack reported preparations remain on schedule for the commencement of the next stage of drilling in early May.

Key objectives from this phase three drill programme include targeted extension of the Nyungu Central deposit in shallower up-dip positions to the south, testing of the broader ‘Nyungu Hub’ potential (including Nyungu West and a key conductor northeast of the Nyungu South prospect), along with initial scout drilling of high-potential regional targets.

“These key regional targets include the large-scale Chipimpa and Sharamba EM conductor targets, which are both over two km in strike and show a similar scale, shape and conductivity to the Nyungu Central deposit signature,” Mr Hosack told shareholders.

PSC is steady at 31.5¢. Mkt cap $256.4M.

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