Vancouver, British Columbia CANADA, March 16, 2012 /FSC/ - Prodigy Gold Inc. (PDG - TSX Venture, KX3 - FWB), ("Prodigy" or the "Company") announced that, further to its news releases dated March 5 and March 13, 2012, the exercise of the over-allotment option (the "Option") in part, to purchase 1,250,000 common shares in the capital of the Company ("Common Shares") at a price of $0.80 per share for gross proceeds of $1,000,000, by the syndicate of underwriters led by Casimir Capital Ltd. and Paradigm Capital Inc., and including National Bank Financial Inc., Byron Capital Markets Ltd. and PI Financial Corp. (the "Underwriters"), has closed today. The Option was granted to the Underwriters in order to cover over-allotments and for market stabilization purposes in connection with Prodigy's public offering of 37,500,000 Common Shares and 13,158,000 flow-through Common Shares completed on March 5, 2012.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy, Common Shares in any jurisdiction, including the United States, or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption therefrom, nor shall there be any sale of Common Shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The Common Shares being issued will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person, absent U.S. registration or an applicable exemption therefrom.


On behalf of the Board of Directors

Brian J. Maher
President and Chief Executive Officer