Prize Mining Corporation
TSX VENTURE : PRZ

Prize Mining Corporation

August 30, 2007 11:51 ET

Prize Mining Commences 10,000 Tonne Bulk Sample Processing

CALGARY, ALBERTA--(Marketwire - Aug. 30, 2007) - Prize Mining Corporation (TSX VENTURE:PRZ) is pleased to report that it has now begun the processing stage of its 10,000 tonne bulk sample/trial mining program on the Yellowjacket Zone of its Atlin Gold Properties, located in northwestern British Columbia. The bulk sample has been excavated from a bedrock pit located near the west end of the Yellowjacket Zone in an area where good gold mineralization, as defined by earlier diamond drilling programs, comes to the bedrock surface. The bedrock was excavated as individual 250 tonne blocks from 3 levels within the pit. Each block will be processed separately in order to determine the exact gold content dispersion across the pit.

"This processing plant developed and manufactured by Knelson Gravity Solutions is a one of a kind plant specifically designed to extract the nuggety gold mineralization seen at the Yellowjacket Zone," stated Feisal Somji, Chairman of Prize Mining. "This is the first entirely turn-key plant designed by Knelson and comprises three circuits incorporating Knelson concentrators. Using this unique plant, we are processing the bulk sample blocks in a very precise, measured manner."

Dr. Simon Dominy, C.Eng. C.Geol., of Snowden UK has visited site and reviewed the plant set up and sampling protocols. As part of his mandate, Dr. Dominy has designed a rigorous QA/QC procedure which includes taking of two head grade samples and two tailings samples every hour during processing. A portion of the head grade samples are taken with an automated Heath and Sherwood Sampler designed to collect representative sample increments from a falling stream of solid material. The other portion of the head grade samples are collected with a manual cutter and the two portions weighted averaged to determine total head grade gold content. Tailings samples are collected using a Heath and Sherwood automated Vezin Sampler used for taking representative samples from slurries. Sampling procedures also include frequent insertion of sample standards, blanks and duplicates. Sample weights are closely monitored using a VEI Payload Management System incorporating state-of-the-art weighing automation on the loader and a Milltronics belt scale weightometer. Gravity gold concentrate is collected using a Gemini GT250 Gold Table after passing through a magnetic separator, and is then passed through a final MD7.5 Knelson Concentrator.

Dr. Dominy will return to site in early September to independently verify the sampling process in place, plant operation and gold concentrate handling.

Bulk sample processing is anticipated to be completed by mid October, at which time concentrates will be shipped to a gold refinery for final gold extraction.

Ms. Linda Dandy, P.Geo., the project supervisor of Prize's trial mining program on the Yellowjacket Zone is the corporation's nominated Qualified Person responsible for monitoring the supervision and quality control of the programs completed within the Atlin Gold Properties. Ms. Dandy has reviewed and verified the technical information contained in this news release.

For more information and photographs see www.prizemining.com.

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

This news release contains forward-looking information including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations and potential mineral recovery processes. Forward-looking information includes disclosure regarding possible future events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. When used in this news release. The words "estimated", "plan", "anticipated", "expected", "intend", believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Prize to be materially different from any future results, performance or achievement expressed or implied by such forward-looking statements. For any forward-looking information given, management has assumed that the analytical results it has received are reliable, and has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions drawn, there can be no assurance that forward-looking statements will prove to be accurate and actual results may differ materially from those currently anticipated in such statements.

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

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