Prize Mining Corporation: Completes Third and Final Tranche of Private Placement

Finders acting in connection with the third tranche of the private placement received an aggregate fee of $14,089.60 and 64,044 irrevocable non-transferable options to purchase common shares of Prize at a price of $0.22 per share, which may be exercised on or before December 28, 2007.

The total amount raised by Prize under this private placement was $2,427,086 consisting of an aggregate of 2,070,818 Units issued at a price of $0.22 per Unit for gross proceeds of $455,580 and an aggregate of 7,301,874 Flow-Through Shares issued at a price of $0.27 per Flow-Through Share for gross proceeds of $1,971,506.

Proceeds of the private placement will be used to fund the 10,000 tonne bulk sample to be taken by Prize from the Yellowjacket Zone of Prize's Atlin Gold Property and for general working capital. The completion of the private placement is subject to regulatory approval.

ON BEHALF OF THE BOARD OF PRIZE MINING CORPORATION

Harry McGucken, President and CEO

Prize Mining Corporation is a Tier One Company listed on the TSX Venture Exchange (symbol: PRZ-V). 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Website: www.prizemining.com