Prosperity Goldfields Corp.
TSX VENTURE : PPG

Prosperity Goldfields Corp.

April 02, 2012 09:00 ET

Prosperity Goldfields Announces Results of Special Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 2, 2012) - Prosperity Goldfields Corp. (TSX VENTURE:PPG) (the "Company" or "Prosperity") is pleased to announce that the shareholders of Prosperity approved the continuance of Company to British Columbia under the Business Corporations Act (British Columbia (the "Continuance") and the Amalgamation of Prosperity and Smash Minerals Corp ("Amalgamation"). The Arrangement and the Amalgamation was approved at the special meeting of the Company's shareholders on March 30, 2012, by 99.97% of the votes cast by the Company's shareholders, representing 66.95% of all of the issued and outstanding shares of Prosperity, voting together as a single class. No notices of the exercise of dissent rights respecting the Arrangement were received by the Company. Assuming the approval of the Amalgamation by the shareholders of Smash Minerals Corp. and that all other closing conditions are satisfied or waived, the Company anticipates that the Continuance and the Amalgamation will be completed on or about April 12th, 2012.

"All of us on the Board of Directors of Prosperity Goldfields appreciate the overwhelming positive vote of confidence from our shareholders on the Continuance and Amalgamation issues," states Mr. R. Bruce Duncan, Director and CEO. "We believe that this corporate change will produce a stronger company with the ability to properly and aggressively explore the very large land holdings in southern Nunavut. We have already seen excellent results from our drilling in 2011, and we believe that the exploration programs ahead of us will continue to demonstrate the value and potential of the Kiyuk property. We look forward to the results from the 2012 drilling programs, the first of which is already underway on the Kiyuk property."

About Prosperity Goldfields Corp.

Prosperity's principal business is the acquisition, exploration and development of resource properties for the mining of precious metals. Prosperity acquired the option to purchase the mineral claims comprising the "Kiyuk Property" near Nueltin Lake in Nunavut. Prosperity's principal objective is to explore the Kiyuk Property.

For more information about Prosperity please visit: www.prosperitygoldfields.com

On Behalf of the Board of Directors

PROSPERITY GOLDFIELDS CORP.

R. Bruce Duncan, CEO and Director

"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."

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