Prize Announces Termination of Letter of Intent to Acquire Majority Interest in El Limon Mine, Colombia

CALGARY, ALBERTA--(Marketwired - Dec. 19, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Prize Mining Corporation (NEX:PRZ.H) (the "Corporation" or "Prize") announces it has terminated the binding letter of intent (the "LOI") previously announced on October 3, 2014 with Nicaragua Milling Company Limited ("NMCL"), due to uncertainty in the mining and capital markets. The brokered unit private placement as well as the proposed consolidation, announced on October 3^rd, 2014, has also been terminated. Prize will be working with the TSX.V-NEX for reinstatement of trading of its shares and is actively looking for a new business opportunity.

About the Corporation

Prize is a Calgary based junior mining issuer incorporated under the laws of Alberta and is listed on the NEX board of the TSX Venture Exchange. Prize is engaged in the acquisition, exploration and development of mining properties in both Canada and in South America.

ON BEHALF OF THE BOARD OF PRIZE MINING CORPORATION

Feisal Somji, President and CEO

Forward-Looking Information

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. These securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.