Prize Mining Corporation
TSX VENTURE : PRZ

Prize Mining Corporation

January 20, 2010 16:42 ET

Prize Mining Announces Conversion of Debenture

CALGARY, ALBERTA--(Marketwire - Jan. 20, 2010) - Prize Mining Corp. (TSX VENTURE:PRZ) is pleased to announce that its non-interest bearing convertible debenture, as reflected in the company's balance sheet (originally sold on January 22, 2005 for the principal amount of CDN$1,150,000) has been settled. The debenture, originally set to mature on January 22, 2010, has been converted to 1,462,174 units of Prize Mining, each consisting of one share and one share purchase warrant as per the original agreement announced in the press release dated January 25, 2005. 

About Prize Mining
Prize Mining Corporation (TSX VENTURE:PRZ) is dedicated to the exploration, discovery and development of precious metal deposits. Prize is exploring for gold in the Atlin area of northwestern British Columbia, Canada and for nickel-copper-palladium and platinum on the Muskox Layered Intrusion in Nunavut, Arctic Canada.

ON BEHALF OF THE BOARD OF
PRIZE MINING CORPORATION

"Jim Glass"
President & CEO

Neither the 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.

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