Prism Resources Announces Appeal of Summary Judgement Ruling by Kirkland Lake/Detour Gold on 7.5% Royalty

Vancouver, British Columbia--(Newsfile Corp. - May 5, 2021) - Prism Resources Inc. (TSXV: PRS) (THE "COMPANY') reports that Detour Gold Corp., a wholly owned subsidiary of Kirkland Lake Gold Inc. has initiated an appeal of the summary judgement ruling issued by the Superior Court of Ontario in favour of the Company on April 1, 2021. (see Prism News Release dated April 6, 2021).

It has always been the position of the Company that the royalty was and remains fully enforceable against Detour and Kirkland Lake Gold Inc. The Company will continue to strongly defend its rights and interests to the fullest extent.

About Prism Resources Inc.

Prism is a natural resources company that owns a 7.5% net profit interest (the "Royalty") in the Aurora and Sunday Lake claims, near the Detour Lake Gold mine. The Aurora claims cover areas which include Detours high grade Zone 58N discovery. Potential exists on the Aurora and Sunday Lake concessions to host additional discoveries which could generate significant cash inflows to Prism in the future.

ON BEHALF OF THE BOARD OF DIRECTORS
PRISM RESOURCES INC.

Brian Kerzner
Interim President & CEO

Brian Kerzner
Prism Resources Inc.
+1-604-506-5000
Email: Brian@Kerzner.ca

Scott M. Ross
Prism Resources Inc.
+1-604-803-4883
Email: sross@prismresourcesinc.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to U.S. news wire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83028

info