CALGARY, ALBERTA--(Marketwire - Jan. 20, 2012) - Prize Mining Corporation (TSX VENTURE:PRZ) (the "Corporation" or "Prize") announces that an annual general and special meeting (the "Meeting") of its shareholders will be held in Calgary, Alberta on March 30, 2012. Additional details and materials regarding the Meeting will be provided to shareholders in due course. The record date for the Meeting is February 24, 2012 and holders of record on that date shall be entitled to notice of the Meeting and to vote at the Meeting. This news release is being issued at the request of the TSX Venture Exchange (the "Exchange"). The Corporation is in default of Exchange requirements to hold an annual general meeting every 15 months for the second time and has provided an undertaking to the Exchange that it will hold its future annual general meetings within the time period required by the Exchange's policies.

The Corporation also announces the its investor relations agreement with Ascenta Capital Partners Inc. was terminated as of September 30, 2011.