Prize Mining Corporation Announces Non-Brokered Private Placement

CALGARY, ALBERTA--(Marketwired - June 21, 2013) - Prize Mining Corp. (TSX VENTURE:PRZ.H) (the "Corporation") is pleased to announce it intends to raise up to $400,000 from a non-brokered private placement of up to 8,000,000 units (the "Units") (the "Offering"). Each Unit will consist of one (1) common share in the capital of the Corporation and one full common share purchase warrant (the "Warrants"). Each Warrant will be exercisable into one common share at a price of $0.15 per common share for a period of 24 months from the closing date. If common shares of the Corporation trade at or above $0.25 for a period of 45 consecutive trading days, the Corporation will have the right to reduce the term for the exercise of Warrants to a 30 day period beginning the day after the day the Corporation provides notice of the reduction of the term. The Corporation may pay a finder's fee ("Finder's Fee") in connection with the issue and sale of any or all of the Units under the Offering.

The Corporation does not anticipate any new insiders will be created, or that a change of control will occur as a result of the Offering.

The securities issued in connection with the Offering will be subject to a four month hold period under applicable securities laws. The Corporation anticipates using the proceeds from the Offering for general working capital purposes. The completion of the Offering is subject to NEX acceptance and other regulatory approval.

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 meeting date of the Corporation's next annual general and special meeting and the successful negotiation of a transaction. 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.

Neither 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.