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CALGARY, ALBERTA--(Marketwire - June 22, 2010) - Prize Mining Corp. (TSX VENTURE:PRZ) announces that the Earn-in Agreement with Silvermet Inc., in respect of the exploration and development of Prize's Muskox Intrusion Property ("Muskox Property") located in the Nunavut Territory, has been terminated by Silvermet without Silvermet having earned or otherwise acquired an interest in the Property. As a result, Prize's 100% ownership of the Muskox Property is no longer subject to any acquisition rights of third parties.

The Muskox Property is a large nickel-copper-platinum-palladium exploration target located 550 kilometres north of the city of Yellowknife and 90 kilometres south of the town of Kugluktuk (formerly Coppermine). Prize holds mineral tenure to 68,766 acres at the Muskox Property and associated areas.

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

Jim Glass, President & CEO

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.