Prize Mining Corporation: Update on Yellowjacket Zone Bulk Sample Processing, Atlin Gold Property, BC

CALGARY, ALBERTA--(Marketwire - Aug. 6, 2008) - Prize Mining Corporation ("Prize") (TSX VENTURE:PRZ) is pleased to announce that good progress is being made on the Yellowjacket Zone bulk sampling (trial mining) program on its Atlin Gold Property, located in northwestern British Columbia. Prize's previous news release, dated May 14, 2008, gave a full project review, summarizing the results of exploration programs completed to date on the Yellowjacket Zone.

Over the past week, Prize has processed one test block and the first official block of its bulk sampling program. The 10,000 tonne bulk sample is being run through the Knelson designed processing plant in 40 250 tonne blocks with full gold cleanup to be completed at the end of each block run.

Due to the "nugget" effect of the high grade coarse native gold mineralization in the Yellowjacket Zone, completion of the bulk sample is required in order to help mitigate grade variability to allow for determination of an expanded resource estimate for the zone. The bulk sample blocks were extracted from a location where the high grade gold mineralization within the bedrock comes to surface. The following table shows the shallow depths of high grade gold mineralization from the diamond drill core samples taken from holes drilled within the bulk sample pit area.

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