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Re: News Releases - Thursday, September 13, 2007
Prize Mining Corporation Completes Initial Tranche Private
Placement Of Flow-Through Shares
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CALGARY, ALBERTA --- Prize Mining Corporation ("Prize") is pleased to
announce that it has closed the first tranche of its private placement
of common shares issued on a flow-through basis ("Flow-Through
Shares"). A total of 2,593,000 Flow-Through Shares at a price of $0.27
per Flow-Through Share were issued for gross proceeds of $700,110. The
securities issued pursuant to this tranche of the private placement are
subject to a statutory resale restriction period of four months, which
expires on January 13, 2008. The second tranche of the private
placement is expected to be completed shortly.

Finders acting in connection with the initial tranche of the private
placement received a finder's fee in the total amount of $49,007.70 and
options to acquire a total of 181,510 common shares of Prize at a price
of $0.27 per common share for a period of twenty-four months from the
date of closing.

Following the completion of the initial tranche of the private
placement, Prize has 49,850,880 common shares issued and outstanding.

Proceeds of the private placement will be used for the bulk sample
(trial mining) processing on the Yellowjacket Zone of Prize's Atlin
Gold Properties and exploration activities on Prize's LD claims and, if
acquired, the Primrose molybdenum property. All of these properties
are located in the Atlin area of northwestern British Columbia. The
completion of this private placement is subject to regulatory approval.

About Prize Mining
Prize Mining Corporation (TSXV: PRZ) is dedicated to the exploration,
discovery and development of precious metal deposits. Prize is
exploring for gold in the Atlin area of northwestern British Columbia,
Canada and for nickel-copper-palladium and platinum 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
Email: info@prizemining.com
Website: www.prizemining.com

The TSX Venture Exchange Inc. has neither approved nor disapproved the
information contained herein.

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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 Sep 13, 2007 at 3:05:53 PM Pacific Time
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