Prime Meridian Resources Corp.

Prime Meridian Resources Corp.

March 11, 2008 18:00 ET

Prime Meridian Resources Corp.: Drilling Completed on Tag & Jake Targets, Ground Geophysics Planned

CALGARY, ALBERTA--(Marketwire - March 11, 2008) - Prime Meridian Resources Corp. (TSX VENTURE:PMR) (FRANKFURT:DYD) ("Prime Meridian") announces that drilling has been completed on two of its magmatic nickel-copper-PGE targets in Michigan.

The Tag target was represented by a strong coincident magnetic, electromagnetic (airborne and ground induced polarization) and ground gravity geophysical response within host rocks of the Michigamme Formation. Drilling showed that the geophysical responses described above were due to magnetic iron formation, graphite and zones of semi-massive pyrite and pyrrhotite and a thick unit of interbedded quartzite, respectively. Assays are pending for selected intervals, however, economic concentrations of base metals are not expected.

The Jake target is a mafic intrusive dike and sill complex for which Prime Meridian mapping and sampling indicated the potential for nickel-copper mineralization. Ground magnetic and electromagnetic surveys over a large portion of the complex detected an area within the complex where strong electromagnetic conductors are present within the basal portion of the complex and are coincident with strong, positive magnetic anomalies. Drilling intersected 161 feet (48.8 meters) of intrusive gabbro underlain by graphitic metasediments of the Michigamme Formation. The gabbro was the cause of the magnetic response and the conductor proved to be the graphite content within the slates. Trace amounts of pyrite and pyrrhotite and very minor chalcopyrite (copper sulfide) was noted in the core. Assays are pending for selected intervals, however, economic concentrations of base metals are not expected.

Prime Meridian's drilling program is temporarily suspended during Spring Break-up during which preparation will be made for drilling to start up by late spring to early summer in Minnesota and Michigan.

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

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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