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Prismo Metals Closes Private Placement

Vancouver, British Columbia, August 23rd, 2022 – Prismo Metals Inc. (CSE: PRIZ and OTCQB: PMOMF) (“Prismo” or the “Company”) is pleased to announce that, further to its August 18th, 2022 news release, it has closed a non-brokered private placement, issuing 750,000 common shares at a price of $0.20 per share for gross proceeds of $150,000. As a result of the closing of the private placement, there are now 29,228,723 common shares of the Company issued and outstanding. The private placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the Canadian Securities Exchange. There was no finder fee paid in this private placement. All securities issued in connection with the private placement are subject to a statutory hold period in Canada expiring four months and one day from the closing of the private placement.

About Prismo

Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in Mexico.

Contact: Craig Gibson, Chief Executive Officer and Director
1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6
craig.gibson@prismometals.com

Jason Frame, Manager of Communications
jason.frame@prismometals.com

Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain forward-looking statements concerning the warrants exercise financing, the proceeds received from such warrant exercise financing, the use of proceeds of the warrant exercise financing, the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, the potential impact of COVID-19 on the Company’s exploration program and on the Company’s general business, operations and financial condition, and other risks and uncertainties described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.