Prize Mining Announces Resignation of Director

CALGARY, ALBERTA--(Marketwire - May 1, 2012) - Prize Mining Corp. (TSX VENTURE:PRZ) (the "Corporation") announces that Wayne Savigny has resigned from the board of directors of the company, effective immediately.

Feisal Somji, president of Prize Mining, stated, "On behalf of the company's management and board of directors, we wish to thank Mr. Savigny for his significant contributions to the company and wish him all the best in his future endeavors."

ON BEHALF OF THE BOARD OF PRIZE MINING CORPORATION

Feisal Somji, President and CEO

Reader Advisory

Certain statements contained herein constitute forward-looking statements, most particularly the expected record and meeting date of the Corporation's next annual general and special meeting. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Factors such as regulatory approvals and other related external factors may affect the forward-looking statements made in this press release. The Corporation believes the expectations reflected in these forward looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this press release should not be unduly relied upon. Forward-looking statements included in this press release are made as of the date of this press release and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.