Prize Mining Corporation
TSX VENTURE : PRZ

Prize Mining Corporation

July 09, 2007 14:50 ET

Prize Mining Corporation: Yellowjacket Zone Trial Mining Program Update

CALGARY, ALBERTA--(Marketwire - July 9, 2007) - Prize Mining Corporation (TSX VENTURE:PRZ) is pleased to provide an update on the trial mining program on the Yellowjacket Zone of its Atlin Gold Properties, located in northwestern British Columbia. A 10,000 tonne bedrock bulk sample is being taken from a micro-pit and will be processed as part of the on-going trial mining program.

A detailed mapping and channel sampling program was completed on the exposed bedrock surface of the micro-pit under the supervision of Dr. Simon Dominy, C.Eng. and C.Geol. of Snowden Group, London. Dr. Dominy is a leading expert in the sampling and processing of high nugget-effect gold deposits. Dr. Dominy has been retained by Prize to prepare a reserve estimate of the Yellowjacket Zone based on the results of the trial mining program. The 800 channel samples taken from the micro-pit are currently being assayed for gold by ACME Analytical Laboratory. Prize anticipates issuing a further news release announcing a summary of the assay results within the next two weeks.

As part of the overburden excavation, placer gravels from the historic Pine Creek placer gold channel were removed and are currently being sluiced. The placer sluicing of these overburden gravels will allow Prize to assess the gold potential remaining in the Pine Creek placer channel.

The initial lift of bedrock excavation has now been completed from the micro-pit, with 250 tonne bedrock blocks being removed to date to a depth of 2.5 metres and stockpiled. Decline ramping is now being constructed in the micro-pit to allow for the removal of the two additional lifts of bedrock blocks to a total depth of 7.5 metres. Prize anticipates that the final lift will be completed by mid July. A total of 10,000 tonnes of bedrock will be processed (milled) as part of the 2007 bulk sampling program.

A Cedarapids crushing unit has been mobilized to site and is currently being set up to commence immediate crushing of the stockpiled excavated bedrock blocks. A Knelson Gravity Solutions' ball mill and processing plant for the bulk sampling (trial mining) program will be assembled on site during the week of July 23, 2007. Processing of the bedrock stockpile is anticipated to commence in late July 2007.

Images of the trial mining program on the Yellowjacket Zone may be viewed at: www.prizemining.com.

Ms. Linda Dandy, P.Geo. is the project supervisor and "Qualified Person" for the purposes of National Instrument 43-101 and has reviewed and verified the geological contents of this release.

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

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

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