Prize Mining Corporation

Prize Mining Corporation

September 01, 2009 09:30 ET

Prize Mining Announces New Management and Board Members

CALGARY, ALBERTA--(Marketwire - Sept. 1, 2009) - Prize Mining Corp. (TSX VENTURE:PRZ), would like to announce the appointment of James ('Jim') Glass as President, CEO and Director and Marshall Farris as Director of the Corporation. Feisal Somji, current Director will take the position of Chairman of the Board as well as act as interim Chief Financial Officer until a permanent CFO is engaged.

Jim Glass has a diversified business background that includes the management, operation and administration of a number of public companies. He has successfully taken companies from the formative stages through to development, financing and initial public offering. Jim's experience spans more than 20 years and includes a senior management position with Gresham Resources Inc., and directorship with Mexican Silver Mines Ltd. (now Rio Alto Mining Ltd.) and Philippine Metals Corp. Additionally, Jim has participated in raising over $100 million in capital financing for Canadian public companies.

Jim is a principal of the Ascenta Group which includes Ascenta Capital Partners Inc., Ascenta Ventures, and Ascenta Finance Corp. He is currently a director of Philippine Metals Corp.

Marshall Farris, a co-founder and principal of Ascenta Finance, has over 17 years of experience assisting public and private companies with corporate operations, capital development, investor relations and regulatory compliance activities. He has thus far participated in raising over $150 million in capital financing for public and private companies. Marshall has an extensive network of contacts in the financial community and is skilled in identifying compelling business opportunities for investors and companies. He also co-founded Ascenta Finance's sister companies: Ascenta Capital Partners Inc., which specializes in providing investor relations services, and Ascenta Ventures, which specializes in corporate creation. In addition, he is a co-founder of Philippine Metals Corp.

"The recent change of management for Prize is to allow the company to grow into its next stage," commented Feisal Somji, Chairman of the Board. "Prize is excited about its joint venture with Eagle Plains on the Yellowjacket Gold Project in Atlin and believes Eagle Plains is doing a fantastic job which will lead the project into production and positive cash flow for both companies. It is now time for Prize to begin looking for additional projects which will allow the company to transgress into a multi project company and increase its upside exposure to the upcoming commodity bull market. I believe that Jim and Marshall are the right people for this job and both bring on much energy, commitment and contacts within the industry to allow this to happen."

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.


Feisal Somji, Director

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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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