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Prize Mining Corporation: Prize Mining Corporate Update

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^{Published in Health and Fitness on Tuesday, August 18th 2009 at 10:31 GMT by Market Wire}  

CALGARY, ALBERTA--(Marketwire - Aug. 18, 2009) - Prize Mining Corp. (TSX VENTURE:PRZ) announces that effective Monday August 17th, 2009 Harry McGucken has resigned from the Board of Directors and as President and CEO of the Company and Brian Farrell has resigned from the Board of Directors and as Chief Financial Officer of the Company. The Board of Directors has assumed management of the Company on an interim basis pending successful completion of its search for new executive officers.

About Prize Mining

Prize Mining Corporation (TSX VENTURE:PRZ) is dedicated to the exploration, discovery and development of precious metal deposits. Prize is exploring for gold in the Atlin area of northwestern British Columbia, Canada and for nickel-copper-palladium and platinum on the Muskox Layered Intrusion in Nunavut, Arctic Canada.

ON BEHALF OF THE BOARD OF PRIZE MINING CORPORATION

Feisal Somji, Director

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither the 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.