Prize Mining Corporation
TSX VENTURE : PRZ

Prize Mining Corporation

July 10, 2008 06:00 ET

Prize Mining Corporation Announces Termination of Letter of Intent to Complete Business Combination

CALGARY, ALBERTA--(Marketwire - July 10, 2008) - Prize Mining Corporation ("Prize") (TSX VENTURE:PRZ) announces that the Letter of Intent (see news release dated June 26, 2008) for a proposed arm's length business combination (the "Proposed Transaction") of Boxxer Gold Corp. and Teras Resources Ltd. with a wholly owned subsidiary of Prize has been collectively and jointly terminated by the parties.

Prize Mining Corporation is a Tier One Company listed on the TSX Venture Exchange (TSX VENTURE:PRZ). 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

The TSX Venture Exchange Inc. has neither approved nor disapproved the information contained herein.

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