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Re: News Releases - Tuesday, June 19, 2007
Prize Mining's JV Partner Commences Drilling Muskox
Nickel/Platinum Project, Nunavut
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Calgary, Alberta---Prize Mining Corporation (TSXV: PRZ) is pleased to
announce that its joint venture partner, Silvermet Inc, has begun the
2007 diamond drilling program at the corporation's Muskox project.
Drilling on site to test the extensive geochemical anomalies outlined
by the 2006 exploration and sampling program has started this week. The
project is being supervised by Dr. Larry Hulbert, one of Canada's
foremost experts on the Muskox intrusion and nickel/PGM exploration.
Silvermet expects to drill a minimum 5,000 meters this field season and
up to 10,000 meters if weather permits.
Silvermet optioned mineral claims lie on the southern extension of the
Muskox intrusion, which is one of the world's largest mafic-ultramafic
intrusive complexes. The marginal zones and feed dyke contain
semi-massive and massive sulphide mineralization and are strikingly
similar to that found in the Noril'sk mining camp in Russia. The Muskox
layered sequence also contains stratiform PGM mineralization similar to
that of the Merensky Reef and of the UG2 chromitite horizons in the
Bushveld complex in South Africa. The Silvermet optioned land claims
were assembled by Prize Mining Corporation ("Prize Mining") between
1994 and 2001. The claims are centered approximately 90 kilometers
south of the village of Kugluktuk (Coppermine), Nunavut. Drilling along
the marginal zone near the east boundary of the intrusion established
massive sulphides with an average grade of 1.2% Ni and 2.6% Cu. Two
recent Prize Mining drill holes, also on the rim, intersected 4.7% Ni,
10.6% Cu, 2.2 g/t Pt and 11.1 g/t Pd over 5.4 m and 3.22% Ni, 7.52% Cu,
2.2 g/t Pt and 17.5 g/t Pd over 5.5 m. A NI 43-101 compliant resource
estimate has not been completed.
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, contact:
Trent Dahl, Investor Relations
Phone: 604-684-4743 ext. 228
Toll Free: 1-866-684-4743
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 Tue Jun 19, 2007 at 4:47:54 PM Pacific Time
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