PPG

Prosperity Goldfields Corp. (the "Company" or "Prosperity") (TSX VENTURE:PPG)
announces details of a planned 4,000 meter diamond drill program to commence
early March at its 590 square kilometer Kiyuk Lake property in Southern Nunavut.
This will be the first two-diamond drill program on the property and is expected
to complete 16 to 18 holes. Initial assay results from this program are expected
in April.


"The Prosperity Goldfields technical team is eager to get back to Nunavut with
this two drill program. We feel there is excellent potential at Rusty to define
a large gold system." commented Adrian Fleming, CEO of Prosperity Goldfields.
"In addition wildcat drilling-of new highly prospective targets is likely to
further confirm our view that Kiyuk Lake has the hallmarks of a major gold
camp."


The focus of the drill campaign will be the Rusty Zone where previous drilling
in 2011 and 2012 returned intercepts including 37.8m grading 4.18 g/t Au from
surface and 61.5m grading 3.34 g/t from 159m (previously released May 7, 2012).
The objective of the drilling at Rusty is to expand and further define the
breccia-hosted gold mineralization which drilling in 2012 indicated extends from
surface and for a distance along strike of at least 250 meters. The location and
orientation of the planned holes are based on previous drilling plus ground
magnetics, till geochemistry, gold grain counts and grain shape analyses from
bulk till samples. Abundant gold grains with pristine shapes (758 grains),
suggesting limited glacial transport, found 400m down ice from the original
Rusty discovery, suggests a south-ward extension of the known mineralization.


Drilling is also planned for the Cobalt and Amundsen Zones. Drilling at Cobalt
will test an undrilled area directly up-ice of a till sample with a highly
anomalous number of pristine gold grains (762 grains) and several mineralized
boulders with grades from below detection to 14 g/t Au. One of the planned drill
holes at Cobalt will test an undrilled chargeability anomaly outlined in IP
surveys completed in 2007 and 2009. Drilling at Amundsen will test for an
extension to surface and along strike of the known gold mineralization (42.4 m
grading 0.97g/t Au) intersected during drilling in 2012.


In addition to these follow-up drill holes, drilling is planned at the untested
Bancroft and Rasmussen showings. The Bancroft showing, identified in 2012, is
defined by mineralized boulders coinciding with highly anomalous gold values in
till and a chargeability and resistivity anomaly. Gold values from the boulders
range from below detection to 6.7 g/t Au. The till geochemical anomaly
represents the up-ice limit or 'head' of a well-defined gold-in-till dispersal
ribbon, which is interpreted to approximate the location of the bedrock source
of the anomaly. Gold values, in till, at the Bancroft showing are higher than
gold values found in till directly over the Rusty Zone. New gold grain results
from the Bancroft area show a high proportion of pristine grains supporting the
interpretation of a local bedrock source.


The Rasmussen showing, also identified during prospecting in 2012, is defined by
gold mineralization in frost heaved boulders which are interpreted to have
undergone minimal transport. Gold values from boulders at the Rasmussen showing
range from 0.1 to 6.9 g/t Au.


Several styles of gold mineralization have been identified at the Kiyuk Lake
property including: pyrrhotite- +/- magnetite-rich brecciated and altered
sandstone (Rusty); pyrrhotite-rich altered felsic volcaniclastic and/or
conglomerate; and pyrite-rich altered polymicitic conglomerate. Based on core
logging and thin section petrography, the main alteration minerals include
albite-quartz-actinolite-carbonate+/-scapolite+/-chlorite+/-tourmaline, the
proportion of which varies depending on mineralized Zone or Target.


As with previous sampling programs conducted by Prosperity, a comprehensive
QA/QC program will be in place to track chain of custody of sample shipments,
and to monitor precision and accuracy of assay results. Analysis will be
completed at an ISO 9001 accredited Laboratory.


Adrian Fleming RPGeo, MAusIMM(CP) is a Qualified Person and is responsible for
the technical content of this press release.


Technical support for the drill program is being provided by CSA Global Canada
Geoscience Ltd.


Additional information and maps displaying these results can be viewed on the
company web site at www.prosperitygoldfields.com.


ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

Adrian Fleming, CEO and Director

This press release includes "forward-looking statements" including forecasts,
estimates, expectations and objectives for future operations that are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the
control of Prosperity Goldfields Corp. Statements regarding mineral exploration
operations and objectives are subject to risk, including, but are not limited
to, exploration and geologic risk, inflation and costs of goods and services,
property title issues and regulatory approvals. Investors are cautioned that any
such statements are not guarantees of future performance and that actual results
or developments may differ-materially from those projected in the
forward-looking statements. Such forward-looking information represents
management's best judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future results may vary
materially. Prosperity Goldfields Corp. does not assume the obligation to update
any forward-looking statement, except as required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prosperity Goldfields Corp.
Dwane Brosseau
Investor Relations
Toll Free: 1 855 237 6274 or Direct: 604 662 3380
info@prosperitygoldfields.com
www.prosperitygoldfields.com


Frontline Communications
Leo Karabelas
Mobile: 416 543 3120

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