Prize Mining Corp.: Annual General and Special Shareholders' Meeting Update

CALGARY, ALBERTA--(Marketwire - April 2, 2012) - Prize Mining Corp. (TSX VENTURE:PRZ) (the "Corporation") is pleased to announce the results of the Annual General and Special Meeting of the shareholders of the Corporation held on March 30, 2012 (the "Annual Meeting"). At the Annual Meeting, Feisal Somji, James Glass, Wayne Savigny and Tim Bergen were elected as the board of directors for the upcoming year. In addition, the shareholders also approved the re-appointment of Davidson & Company LLP as the auditors of the Corporation and the Corporation's new stock option plan.

The disinterested shareholders also approved an amendment of the Stock Option Agreement between the Corporation and Marshall Farris, a former director of the Corporation, to remove the early termination provisions and change the expiration date of the options granted to him to May 6, 2016.

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.