Prime Meridian Resources Corp.
TSX VENTURE : PMR
FRANKFURT : DYD

Prime Meridian Resources Corp.

August 24, 2007 14:56 ET

Drilling Continues at PMR's Bangston Lake Project; Drilling at PMR's IOCG Project to Begin in September; Analyses Received for Four Targets at Kiernan

CALGARY, ALBERTA--(Marketwire - Aug. 24, 2007) - Prime Meridian Resources Corp (TSX VENTURE:PMR) (FRANKFURT:DYD) "Prime Meridian" announces that on June 29, 2007, the drill was mobilized to the Bangston Lake project to test a series of four strong and coincident magnetic and electromagnetic targets. These airborne geophysical targets were confirmed by ground surveys during the second quarter of 2007. Importantly, these geophysical targets lie beneath and are directly coincident with soil geochemical anomalies derived from PMR surface sampling within the geophysical grid area. Anomalous elements from the soil survey include nickel, copper, cobalt, as well as vanadium, iron, titanium, and chromium, all of which are indicators of mafic intrusives.

To date, three holes are complete and drilling continues on the fourth. Intervals from these first three holes have been sampled and submitted to ALS Chemex for geochemical analysis. PMR expects that the planned testing of the Bangston Lake targets should be complete by month end, August 2007, with geochemical assay results from this drilling to become available later, in October, 2007.

Following the completion of the drilling at Bangston Lake, PMR will mobilize the drill to the Wilson Creek IOCG project area. Drilling is scheduled to begin there during the first week of September.

PMR has received the geochemical analysis of the samples submitted from the drill testing of four of nine individual targets within the Kiernan Sills Project Area. Economic mineralization is not present in these samples although trace amounts of nickel, copper, gold, zinc and platinum group elements are present. Additionally, three of the original nine drill targets at Kiernan have been eliminated on the basis of ground geophysical surveys and / or detailed geological grid mapping and sampling. The remaining two targets at Kiernan are high priority status because they are spatially and geologically unrelated to the targets explored to date and are represented by quality airborne electromagnetic and ground magnetic signatures. These will be drill tested later in the current program.

Prime Meridian Resources Corp.

Michael J. Senn, President and CEO

Prime Meridian Resources Corp. is a Canadian exploration company focused on the Midcontinent Rift system in Michigan and Minnesota.

Michael Senn, P.Geol, President of Prime Meridian and a "qualified person" as defined by National Instrument 43-101, prepared the information in this release. Detailed information on the projects described above can be accessed in NI43-101 reports available at www.sedar.com.

Certain disclosures in this release, including management's assessment of Prime Meridian's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Prime Meridian's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Prime Meridian expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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