PRZ.H

Prize Mining Corp. (TSX VENTURE:PRZ.H) (the "Corporation") is pleased to
announce it intends to raise up to $400,000 from a non-brokered private
placement of up to 8,000,000 units (the "Units") (the "Offering"). Each Unit
will consist of one (1) common share in the capital of the Corporation and one
full common share purchase warrant (the "Warrants"). Each Warrant will be
exercisable into one common share at a price of $0.15 per common share for a
period of 24 months from the closing date. If common shares of the Corporation
trade at or above $0.25 for a period of 45 consecutive trading days, the
Corporation will have the right to reduce the term for the exercise of Warrants
to a 30 day period beginning the day after the day the Corporation provides
notice of the reduction of the term. The Corporation may pay a finder's fee
("Finder's Fee") in connection with the issue and sale of any or all of the
Units under the Offering. 


The Corporation does not anticipate any new insiders will be created, or that a
change of control will occur as a result of the Offering.


The securities issued in connection with the Offering will be subject to a four
month hold period under applicable securities laws. The Corporation anticipates
using the proceeds from the Offering for general working capital purposes. The
completion of the Offering is subject to NEX acceptance and other regulatory
approval.


ON BEHALF OF THE BOARD OF PRIZE MINING CORPORATION

Feisal Somji, President and CEO

Reader Advisory

Certain statements contained herein constitute forward-looking statements, most
particularly the expected meeting date of the Corporation's next annual general
and special meeting and the successful negotiation of a transaction. All
statements included herein, other than statements of historical fact, are
forward-looking information and such information involves various risks and
uncertainties. Factors such as regulatory approvals and other related external
factors may affect the forward-looking statements made in this press release.
The Corporation believes the expectations reflected in these forward looking
statements are reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements in this press
release should not be unduly relied upon. Forward-looking statements included in
this press release are made as of the date of this press release and the
Corporation disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by applicable securities
legislation.


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prize Mining Corp.
Feisal Somji
President and CEO
403-236-2222
info@prizemining.com
www.prizemining.com

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