Prize Mining Corporation

Prize Mining Corporation

November 14, 2006 11:57 ET

Prize Mining Corporation: Yellowjacket Bulk Sampling Program Update

Stage 1 Completed

CALGARY, ALBERTA--(CCNMatthews - Nov. 14, 2006) - Prize Mining Corporation ("Prize") (TSX VENTURE:PRZ) is pleased to announce it has now completed Stage 1 of the 10,000 tonne bulk sampling program (see News Release dated September 28, 2006), on its Atlin Gold Property, located in northwestern British Columbia. Stage 1 consisted of re-aligning Pine Creek away from the bulk sampling area for a distance of over 1 kilometre.

Stage 2, which involves removing overburden from the proposed bulk sample pit area, is currently underway. The pit excavation will expose bedrock over an area of 30 x 90 metres. Overburden depth to be removed averages 10 metres. The lower portion of the overburden, immediately above bedrock, will be stock-piled for placer sluicing to quanitify placer gold content.

Upon removal of the overburden, the 10,000 tonne bedrock bulk sample will be extracted in segments from the pit. Pit design has been completed by Snowden Mining Industry Consultants, under direction from BGC Engineering, and is scheduled to commence in late November 2006. Bedrock will be mapped and sampled as part of the bulk sample extraction stage.

Metallurgical test work is currently being completed by G&T Metallurgical Services Ltd. in Kamloops, with final results and report expected by mid to late November 2006. Results of the metallurgical work will assist Prize's consultants BGC Engineering and Snowden to finalize appropriate processing plant specifications for extraction of gold from the bulk sample. The primary purpose for extracting and processing the bulk sample is to assist Prize in mitigating gold assay variabilities associated with the "nugget effect" of the coarse gold mineralization found in the Yellowjacket Zone. The value of the gold extracted from the bulk sample will also allow Prize the potential for a return on expenditures associated with the bulk sample collection.

Ms. Linda Dandy, P.Geo. of P&L Geological Services is the project supervisor and is the "Qualified Person" for the purpose of National Instrument 43-101 and has reviewed and verified the contents of this news release.


Harry McGucken, President and CEO

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

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

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