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Re: News Releases - Wednesday, May 16, 2007
Prize Mining Corporation Announces Bob Ashauer Appointed As Chief
Financial Officer
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CALGARY, ALBERTA -- Prize Mining Corporation ("Prize) (TSXV:PRZ) is
pleased to announce that Robert D. Ashauer has been appointed as its
Chief Financial Officer effective immediately. Feisal Somji, Prize's
former Chief Financial Officer, will continue to serve as the Chairman
of Prize's Board of Directors and as a director.

Mr. Ashauer is a Chartered Accountant with 15 years of business
experience including managing high growth companies and taking early
stage companies to the public markets. Mr. Ashauer has significant
experience in acquisitions, private and public financings and the
implementation of disclosure and internal systems in response to
Canadian SOX regulatory requirements.

Mr. Ashauer most recently served as the Chief Financial Officer of
Cordy Oilfield Services Inc. (TSXV:CKK) from November 2005 through
April 2007. During his tenure as Cordy's Chief Financial Officer,
Cordy completed several debt and equity placements for proceeds in
excess of $80 million and acquired 10 businesses.

Mr. Ashauer brings his experience in the public markets and in managing
high growth companies to the team at Prize, helping Prize to continue
operating effectively as it expands its operations.

ON BEHALF OF THE BOARD OF
PRIZE MINING CORPORATION
"Harry McGucken"
Harry McGucken
President and CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Prize Mining Corporation
Trent Dahl
Investor Relations
(604) 684-4743 ext. 228 or Toll Free: 1-866-684-4743 ext. 228
Email: info@prizemining.com
Website: www.prizemining.com


The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.

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Copyright (c) 2007 PRIZE MINING CORP. (PRZ) All rights reserved. For
more information visit our website at http://www.prizemining.com/ or
send mailto:info@prizemining.com
Message sent on Wed May 16, 2007 at 11:11:32 AM Pacific Time
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