June 06, 2007 18:06 ET
CALGARY, ALBERTA--(Marketwire - June 6, 2007) - Prize Mining Corporation (TSX VENTURE:PRZ) is pleased to announce its joint venture partner, Silvermet Inc., has retained the consulting services of nickel-copper-platinum group metals specialist Dr. Larry Hulbert who is also an authority on the Muskox intrusion. Dr. Hulbert has a BSc and MSc from the University of Regina and a DSc from the University of Pretoria, South Africa, where he did his doctoral studies on the Bushveld complex which has similarities to the Muskox intrusion. Dr. Hulbert has over 10 years of direct research and exploration expertise on the Muskox intrusion. Silvermet's claims lie approximately 90 kilometres south of Kugluktuk (Coppermine).
Silvermet announced that it has mobilized drilling equipment and camp for its planned 5,000- to 7,000-metre drilling program. Drilling should start next week on targeted geochemical high anomalies which have been located within the claims as a result of the interpretation of approximately 7,000 soil samples.
Silvermet also announced that it has issued to Dr. Hulbert, for consulting services rendered in connection with Silvermet's geochemical program and integration of such program with the extensive geological and exploration data already existing for the Muskox intrusion located in Nunavut, 800,000 options to purchase common shares of Silvermet. The options shall have a term of five years from the date of issuance and shall have an exercise price of 44 cents per share. The options and the shares issuable on the excise of the options are subject to a four-month hold period and may not be traded until four months and one day after the issuance of the options.
About Prize Mining
Prize Mining Corporation (TSX VENTURE:PRZ) is a company dedicated to the exploration, discovery and development of precious metal deposits. The company is exploring for Gold in the Atlin area of British Columbia, Canada and its Nickel-Copper-Palladium and Platinum project on the Muskox Layered Intrusion in Nunavut, Arctic Canada.
ON BEHALF OF THE BOARD OF PRIZE MINING CORPORATION
Harry McGucken, President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Prize Mining CorporationTrent DahlInvestor Relations(604) 684-4743 ext. 228 or Toll Free: 1-866-684-4743Email: firstname.lastname@example.orgWebsite: www.prizemining.com
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