Prospectiva Intersects Near-Surface High-Grade Copper at São Francisco: 7.15 m at 4.78% Cu, including 3.60 m at 9.17% Cu

TORONTO, Oct. 20, 2026 (GLOBE NEWSWIRE) — Prospectiva Resources Ltd. (TSX-V: PSVA) (“Prospectiva” or the “Company”) a Brazil-focused copper and gold exploration company advancing a portfolio of 100%-owned projects in the highly-prospective but underexplored Borborema Belt, northeastern Brazil, is pleased to report initial assay results from the first three diamond drill holes of its maiden exploration programme at its flagship São Francisco Copper-Gold Project in Pernambuco State. All three holes intersected massive, semi-massive and heavy disseminated copper-bearing sulphide mineralisation. These results confirm that the mineralised zone is strongly consistent with the geophysical anomalies generated by the recently completed Fixed Loop Electromagnetic (FLEM) survey.

Highlights:

• Key mineralised intervals from the initial three drill holes include;
  • SF_26_003 intersected 7.15 m at 4.78% Cu, 0.19 g/t Au and 0.65% Zn
    including 3.60 m at 9.17% Cu, 0.35 g/t Au and 1.17% Zn

• • SF_26_002 intersected 2.50 m at 3.24% Cu, 0.42 g/t Au and 0.44% Zn
    including 1.50 m at 5.05% Cu, 0.69 g/t Au and 0.68% Zn

• • SF_26_001 intersected 4.00 m at 1.93% Cu, 0.23 g/t Au and 0.38% Zn
    including 1.10 m at 6.03% Cu, 0.30 g/t Au and 0.68% Zn

• These initial results indicate that the high-grade near-surface copper mineralisation continues from the surface “discovery outcrop”, to these current drill holes located approximately 600 metres to the east, along the interpreted down-plunge trend.
• Drilling is ongoing with two drill rigs now active on site as the Company works towards completing this initial 10-hole drilling programme.

Dan James, Chief Executive Officer of Prospectiva said, “The first three holes of our maiden drill programme at São Francisco have returned very strong results with all three intersecting high-grade copper mineralisation at shallow depths. These intersections, when combined with the historical drilling results, suggests good continuity of high-grade, near-surface mineralisation. The results also include encouraging associated gold and zinc grades. Our recent structural mapping and geophysical surveys have been key to defining drill targets, with drilling consistently intersecting mineralisation at the target horizons.

Our new geological work also suggests that we are seeing a stratabound system, interpreted to be VMS-style. These systems typically occur as clusters, raising the potential for further zones of mineralisation within the same geological setting.

We now have two drill rigs active on the project and we are systematically drilling eastwards to extend the zone of known mineralisation at SF1. In parallel, our field team is undertaking further ground geophysics on targets around SF1. We look forward to reporting further drill results as we progress to the completion of the Phase 1 drill programme”.

Detailed Information

To date, Prospectiva has completed six planned diamond drill holes (SF_26_001 to SF_26_006). Assay results have been received for the first three holes, with results from the remaining completed holes pending. The fully funded programme is on-going, now with two drill rigs on site, and is expected to complete in mid-Q4 2026.

Drilling is progressing eastwards along the interpreted down-plunge extension of the mineralised system, as guided by historical exploration work, a new structural model, FLEM and Downhole Electromagnetic (DHEM) surveys all completed by Prospectiva over the last 6 months.

São Francisco – Initial 2026 Diamond Drilling Results

Table 1. Selected initial diamond drilling results.

*SF_26_004 was terminated at approximately 40 m due to excessive drillhole deviation, following intersection of the targeted mineralised horizon. The hole was subsequently redrilled as SF_26_004b.

Note: Significant intersections are calculated using a nominal lower cut-off grade of 0.20% Cu. All reported intervals comprise contiguous samples exceeding the cut-off, with no internal dilution applied. Copper, gold and zinc grades represent length-weighted averages. Reported intervals are downhole lengths; true widths have not yet been established.

Table 2. Drill collar details of selected initial diamond drilling results.

Hole locations given in WGS84 UTM Zone 24S.

Full project details, including the drill collar plan, can be found at:
https://prospectiva-resources.com/projects/sao-francisco.

Photo 1. Active drilling at São Francisco of drill hole SF_26_003 in September 2026.

Photo 2. Uncut drill core of massive sulphide mineralisation at SF_26_003 from the high-grade interval between 85.85 and 93.00m. Mineralisation is predominantly chalcopyrite and minor pyrrhotite, with lithic breccia clasts, at 89.40m.

Interpretation and Exploration Programme

Prospectiva has completed a detailed geological and structural review of the São Francisco mineralised system, incorporating historical drill-core relogging, field mapping, structural measurements and geophysical interpretation. The review, undertaken with specialist geological consultants, has refined the Company’s three-dimensional geological model and is guiding the ongoing drilling programme.

Structural interpretation and plunging mineralised shoots

The São Francisco mineralisation comprises massive to semi-massive pyrrhotite–chalcopyrite hosted within a deformed sequence of metamorphosed schists and gneisses. The stratabound sulphide mineralisation is interpreted to have undergone significant deformation and local remobilisation, forming broad and elongated mineralised horizons parallel to fold axes, which is likely hosted within fold hinges. Historical drilling and structural measurements suggest that the mineralised system is associated with a gently east-plunging structural trend of approximately 5–15°. This interpretation provides a framework for targeting potential extensions of known mineralisation.

Ongoing drilling and target generation

The current programme is designed to test down-plunge extensions of the mineralisation, gaps between historical drill intersections and new geophysical targets identified through FLEM and DHEM surveys.

The first three drill holes intersected massive to semi-massive copper-bearing sulphides at depths broadly consistent with the revised geological interpretation (between 60 and 95m depth). These results provide strong support for the structural model, while further drilling is required to establish continuity for resource definition.

Oriented drill core and systematic structural measurements are being used to refine the geometry of foliation, fold axes and mineral lineations. These observations, together with electromagnetic survey results, are being incorporated into the evolving three-dimensional geological model to guide subsequent drill targeting.

Broader exploration potential

The principal sulphide-bearing horizon is interpreted to represent a structurally modified, potentially remobilised VMS-style mineralising system, hosted within an approximately 60 m thick prospective schist package. This provides a geological framework for tracing favourable stratigraphy along strike and down plunge. Prospectiva’s structural review has identified the potential for additional sulphide mineralisation beyond the currently drilled areas, including prospective positions around the interpreted fold hinge and elsewhere within the broader stratigraphic sequence. Prospectiva intends to continue integrating geological mapping, structural interpretation, geochemical sampling and electromagnetic surveys to evaluate these opportunities while advancing drilling along the established São Francisco mineralised trend.

Sampling, Analytical Procedures and Quality Assurance

Drill core samples were selected based on mineralisation, lithological or alteration boundaries and collected by Prospectiva personnel, labelled and placed in sealed sample bags before delivery to ALS Parauapebas, an independent sample preparation laboratory. Following preparation using ALS method PREP-31, sample pulps were forwarded to ALS Lima, Peru, for analytical testing. Gold was analysed by 50 g fire assay with an atomic absorption finish (Au-AA24). Multi-element analysis was completed using four-acid digestion followed by a combination of ICP-MS and ICP-AES (ME-MS61). Samples exceeding the upper analytical limits for copper and zinc were re-analysed using ore-grade methods (Cu-OG62 and Zn-OG62, as applicable).

Prospectiva maintains a quality assurance and quality control (QA/QC) programme incorporating the insertion of certified reference materials (CRMs), blanks and duplicate samples into the analytical sample stream. QA/QC results are reviewed alongside the laboratory’s internal quality-control data to assess the reliability of the analytical results. The Qualified Person has reviewed the available analytical results and associated QA/QC information to assess their suitability for public disclosure.

Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Robert Selwyn, MGeol, CGeol, FGS, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Robert Selwyn is Chief Geologist and a non-independent consultant to Prospectiva.

ON BEHALF OF THE BOARD OF DIRECTORS OF PROSPECTIVA RESOURCES LTD.
“Dan James” CEO and Director

For more information, please contact:
Dan James, Chief Executive Officer
Tel: +1 (647) 947-2145
Email: ir@prospectiva-resources.com

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About Prospectiva Resources Ltd.

Prospectiva Resources is a Brazil-focused copper and gold exploration company advancing a district-scale portfolio of 100%-owned projects across the highly prospective but underexplored Borborema Province in northeastern Brazil. The Company’s land package comprises 21 mineral exploration licences covering approximately 343 km² across the states of Pernambuco and Paraíba with current focus on its flagship São Francisco Copper-Gold Project.

São Francisco is the Company’s priority exploration asset. Geological interpretation, historical IP geophysics and Prospectiva’s recent FLEM survey have defined a prospective geological and geophysical corridor extending for approximately 3 km. Mineralisation is high-grade, with a historical best intersection of 7.50 m @ 6.41% Cu & 0.36 g/t Au (SF_006), and near-surface.

Prospectiva is undertaking a diamond drilling programme to test newly identified electromagnetic conductors and other priority targets within the approximately 3 km prospective geological and geophysical corridor. The programme forms part of the Company’s strategy to advance São Francisco towards the potential definition of an initial Mineral Resource in 2027.

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