| ||Wed Nov 16, 2005|
Drilling Intersects Historic Rock of Ages Mineralized Zone
| ||CALGARY, ALBERTA - Prize Mining Corporation ("Prize") is pleased to announce that the diamond drill program on its Atlin Gold Project, located near the community of Atlin in northwestern British Columbia, has intersected what is believed to be the "historically documented" Rock of Ages mineralized zone. A strong silicified breccia zone with abundant pyrite was intersected in two drill holes at the depth where the historic Rock of Ages mineralized zone was expected.|
A total of three drill holes into the Rock of Ages Zone have now been completed and sampled. Two of the holes (RA05-01 and RA05-02), drilled from the same collar location 25 metres north of the historic Rock of Ages shaft, intersected a strong silicified breccia zone with abundant pyrite mineralization. The breccia zone in hole RA05-01 was intersected from 31.10 to 39.35 metres. In hole RA05-02 the breccia zone was intersected from 24.30 to 30.77 metres with a second splay off from 32.23 to 38.05 metres. The third hole (RA05-03) was drilled vertically from the south side of the shaft to test for parallel mineralized zones.
Drill core samples have been logged and split and have been sent off to ACME Laboratories in Vancouver, BC with selected samples being assayed for gold by the metallics technique. Assay results from the Rock of Ages Zone are expected in about 4 weeks.
The diamond drill has now been moved to the Yellowjacket Zone where a combination of twinning of historic drill holes for due diligence purposes and infill/stepout drilling for mineralization control/expansion is commencing. The aim of the latter drill program is to expand the Yellowjacket Zone as it currently remains open along strike and to depth.
Prize's management is very pleased with the results of the Rock of Ages drilling as it appears to have confirmed both the historic geological reports and Prize's previous geophysical interpretations. Management wants to caution readers that until assay results from this drill program are returned by the laboratory, they will not know if the Rock of Ages silicified breccia zone contains gold mineralization.
Ms. Linda Dandy, P.Geo. of P&L Geological Services is the project supervisor and "Qualified Person" for the purpose of National Instrument 43-101 who has reviewed and verified the contents of this news release.
ON BEHALF OF THE BOARD
President and CEO
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