VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Prime Mining Corp. ("Prime", or the "Company") (TSV: PRYM) (OTCQX:PRMNF) (Frankfurt: O4V3) is pleased to report its operating and financial results for the quarter ended June 30, 2024. Prime is focused on the exploration and development of its wholly owned high-grade Los Reyes Gold-Silver Project in Sinaloa State, Mexico ("Los Reyes" or the "Project"). Prime Chief Executive Officer Scott Hicks commented, "Prime continued to execute on its growth strategy through the second quarter, with exploration drilling demonstrating the high quality of our high-grade Los Reyes gold-silver Project. Expansion drilling results at the Z-T Trend included the discovery of a new high-grade shoot containing 7.68 gpt gold-equivalent over 7.7 metres, while a highlight of generative drilling at Las Primas included an impressive 11.8 gpt gold-equivalent over 3.0 metres. Prime continues to focus on technical derisking while remaining fiscally prudent. Given the exciting results from our success-based drilling program to-date this year and our drilling efficiency, we are expanding our 2024 drilling budget to 50,000 metres this year from 40,000 metres. We look forward to updating the market with our progress over the balance of the year." Corporate Highlights During the Quarter (Unless otherwise stated, all amounts are presented in Canadian dollars.) On May 13th, the Company released its 2023 Financial and Operating Results. On June 20th, the Company announced the voting results from its annual general meeting, wherein all the directors listed as nominees were elected and all matters presented were approved. Exploration Highlights During the Quarter Prime Discovers New High-Grade Shoot Containing 7.68 gpt gold-equivalent over 7.7 m High gold grade area remains open, and continues at depth and along trend at Z-T April 10, 2024Expansion Drilling Highlights in the Z-T Area: TahonitasThe Company is reporting 15 core holes at Tahonitas with the following highlights: 7.68 grams per tonne ("gpt") gold-equivalent ("AuEq") (5.83 gpt Au and 142.7 gpt Ag) over 7.7 metres ("m") estimated true width ("etw") in hole 24TA-116, including: 31.49 gpt AuEq (24.31 gpt Au and 554.7 gpt Ag) over 1.8 m etw, including: 55.72 gpt AuEq (44.1 gpt Au and 898.0 gpt Ag) over 0.6 m etw; 1.98 gpt AuEq (1.21 gpt Au and 59.7 gpt Ag) over 16.9 m etw in hole 24TA-110, including: 3.99 gpt AuEq (2.41 gpt Au and 122.0gpt Ag) over 4.5 m etw; 23.97 gpt AuEq (7.66 gpt Au and 1,260.0 gpt Ag) over 0.8 m etw in hole 24TA-111. Prime Reports 11.8 gpt gold-equivalent over 3.0 metres at Las Primas And Continues to Discover High Grades at Shallow Depths April 17, 2024Generative Drilling Highlights in the Las Primas TargetThe Company is reporting 11 core holes at Las Primas with the following highlights: 11.81 gpt AuEq (4.07 gpt Au and 598.1 gpt Ag) over 3.0 m etw in hole 24LP-30, including: 19.8 gpt AuEq (6.77 gpt Au and 1007.1 gpt Ag) over 1.7 m etw 3.42 gpt AuEq (1.44 gpt Au and 153.1 gpt Ag) over 9.4 m etw in hole 24LP-33, including: 4.48 gpt AuEq (1.94 gpt Au and 196.1 gpt Ag) over 5.0 m etw 1.75 gpt AuEq (0.83 gpt Au and 71.1 gpt Ag) over 3.6 m etw in hole 24LP-24 1.75 gpt AuEq (1.21 gpt Au and 41.9 gpt Ag) over 3.8 m etw in hole 24LP-28, including: 2.75 gpt AuEq (1.78 gpt Au and 74.7 gpt Ag) over 2.1 m etw Prime Extends High-Grade Silver and Gold Mineralization at Guadalupe EastMay 28, 2024Expansion Drilling Highlights in the Guadalupe TrendThe Company is reporting 11 core holes at Guadalupe East with the following highlights: 6.9 gpt gold-equivalent AuEq (2.67 gpt Au and 326.6 gpt Ag) over 3.5 m etw in hole 24GE-149; 12.65 gpt AuEq (4.06 gpt Au and 664.0 gpt Ag) over 1.1 m etw in hole 24GE-150; 7.8 gpt AuEq (2.38 gpt Au and 419.0 gpt Ag) over 1.5 m etw in hole 24GE-151; 9.86 gpt AuEq (3.71 gpt Au and 475.0 gpt Ag) over 1.0 m etw in hole 24GE-158; 54.41 gpt AuEq (20.5 gpt Au and 2,620 gpt Ag) over 0.70 m etw in hole 24GE-159. Prime Intersects 7 gpt Gold-Equivalent over 2.9m at Z-TJune 25, 2024Expansion Drilling Highlights in the Z-T TrendThe Company is reporting 15 core holes at Tahonitas with the following highlights: 6.93 gpt AuEq (6.64 gpt Au and 22.4 gpt Ag) over 2.9 m etw in hole 24TA-117, including: 19.71 gpt AuEq (18.90 gpt Au and 62.8 gpt Ag) over 1.0 m etw; 1.51 gpt AuEq (1.0 gpt Au and 39.6 gpt Ag) over 14.2 m etw in hole 24TA-119, including: 4.34 gpt AuEq (2.60 gpt Au and 134.5 gpt Ag) over 2.4 m etw. 1.47 gpt AuEq (1.21 gpt Au and 19.9 gpt Ag) over 10.7 m etw in hole 24TA-131, including: 7.28 gpt AuEq (6.80 gpt Au and 37.4 gpt Ag) over 0.8 m etw. Maintaining Health and Safety Protocols Prime remains engaged with local stakeholders and is proactive in monitoring employees and contractors concerning general health conditions. The Company continues to closely adhere to the directives of all levels of government and relevant health authorities in Mexico and Canada. Community Engagement and Environmental Stewardship Strategy We continued to gather environmental and community data in the quarter in support of our ESG programs, including completion of a materiality assessment, strategic plan, and disclosure matrix. We strive to minimize the environmental footprint of our activities and ensure that Los Reyes has a positive impact on our host communities. The Company released its second annual sustainability report during May 2024 which establishes a baseline and a new yardstick to measure our progress in meeting our commitments regarding sustainability and stewardship of the environment, relevant social issues, and corporate governance. Selected Financial Data The following selected financial data is summarized from the Company's consolidated financial statements and related notes thereto (the "Financial Statements") for the six months ended June 30, 2024 and 2023. A copy of the Financial Statements and MD&A is available at www.primeminingcorp.ca or on SEDAR at www.sedar.com.   Six Months ended June 30, 2024   Six Months ended June 30, 2023   Loss and comprehensive loss $(11,935,978 ) $(11,709,585 ) Loss per share – basic and diluted $(0.08 ) $(0.09 )   June 30, 2024