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Re: News Releases - Thursday, August 30, 2007
Prize Mining Commences 10,000 Tonne Bulk Sample Processing
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CALGARY, ALBERTA --- Prize Mining Corporation (TSXV: PRZ) is pleased to
report that it has now begun the processing stage of its 10,000 tonne
bulk sample/trial mining program on the Yellowjacket Zone of its Atlin
Gold Properties, located in northwestern British Columbia. The bulk
sample has been excavated from a bedrock pit located near the west end
of the Yellowjacket Zone in an area where good gold mineralization, as
defined by earlier diamond drilling programs, comes to the bedrock
surface. The bedrock was excavated as individual 250 tonne blocks from
3 levels within the pit. Each block will be processed separately in
order to determine the exact gold content dispersion across the pit.

"This processing plant developed and manufactured by Knelson Gravity
Solutions is a one of a kind plant specifically designed to extract the
nuggety gold mineralization seen at the Yellowjacket Zone," stated
Feisal Somji, Chairman of Prize Mining. "This is the first entirely
turn-key plant designed by Knelson and comprises three circuits
incorporating Knelson concentrators. Using this unique plant, we are
processing the bulk sample blocks in a very precise, measured manner."

Dr. Simon Dominy, C.Eng. C. Geol., of Snowden UK has visited site and
reviewed the plant set up and sampling protocols. As part of his
mandate, Dr. Dominy has designed a rigorous QA/QC procedure which
includes taking of two head grade samples and two tailings samples
every hour during processing. A portion of the head grade samples are
taken with an automated Heath and Sherwood Sampler designed to collect
representative sample increments from a falling stream of solid
material. The other portion of the head grade samples are collected
with a manual cutter and the two portions weighted averaged to
determine total head grade gold content. Tailings samples are collected
using a Heath and Sherwood automated Vezin Sampler used for taking
representative samples from slurries. Sampling procedures also include
frequent insertion of sample standards, blanks and duplicates. Sample
weights are closely monitored using a VEI Payload Management System
incorporating state-of-the-art weighing automation on the loader and a
Milltronics belt scale weightometer. Gravity gold concentrate is
collected using a Gemini GT250 Gold Table after passing through a
magnetic separator, and is then passed through a final MD7.5 Knelson
Concentrator.

Dr. Dominy will return to site in early September to independently
verify the sampling process in place, plant operation and gold
concentrate handling.

Bulk sample processing is anticipated to be completed by mid October,
at which time concentrates will be shipped to a gold refinery for final
gold extraction.

Ms. Linda Dandy, P.Geo., the project supervisor of Prize's trial mining
program on the Yellowjacket Zone is the corporation's nominated
Qualified Person responsible for monitoring the supervision and quality
control of the programs completed within the Atlin Gold Properties. Ms.
Dandy has reviewed and verified the technical information contained in
this news release.

For more information and photographs see www.prizemining.com.

About Prize Mining
Prize Mining Corporation (TSXV: PRZ) is a company dedicated to the
exploration, discovery and development of precious metal deposits. The
company is exploring for Gold in the Atlin area of British Columbia,
Canada and its Nickel-Copper-Palladium and Platinum project on the
Muskox Layered Intrusion in Nunavut, Arctic Canada.

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

This news release contains forward-looking information including but
not limited to comments regarding the timing and content of upcoming
work programs, geological interpretations and potential mineral
recovery processes. Forward-looking information includes disclosure
regarding possible future events, conditions or results of operations
that is based on assumptions about future economic conditions and
courses of action, and therefore, involves inherent risks and
uncertainties. When used in this news release. The words "estimated",
"plan", "anticipated", "expected", "intend", believe", and similar
expressions are intended to identify forward-looking statements. These
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements
of Prize to be materially different from any future results,
performance or achievement expressed or implied by such forward-looking
statements. For any forward-looking information given, management has
assumed that the analytical results it has received are reliable, and
has applied geological interpretation methodologies which are
consistent with industry standards. Although management has a
reasonable basis for the conclusions drawn, there can be no assurance
that forward-looking statements will prove to be accurate and actual
results may differ materially from those currently anticipated in such
statements.

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 Thu Aug 30, 2007 at 9:18:22 AM Pacific Time
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