| ||Fri Dec 16, 2005|
Drilling On Yellowjacket Zone To Continue After Holidays, Notice Of Meeting Of Shareholders
| ||· Drilling On Yellowjacket Zone To Continue After Holidays|
· Notice Of Meeting Of Shareholders
Prize Mining Corporation ("Prize") (TSXV:PRZ), is pleased to announce that it has now completed approximately 895 metres of diamond drilling in 9 holes on its Atlin Gold Property, located in northwestern British Columbia. The drill program has now shut down for the holiday break and will be resuming in February 2006.
This current program included 3 drill holes on the previously untested Rock of Ages mineralized zone, and 6 holes on the Yellowjacket Zone located 1.5 kilometres to the northeast. Drilling on the Yellowjacket Zone included twinning of 3 existing drill holes for due diligence purposes and to improve core recoveries, and 3 holes which were put in as short step outs along strike from prior hole YJ03-01 to test for extensions of the very high grade gold mineralization returned from that hole. Hole YJ03-01 returned 5.56 metres of 513.5 g/t gold (see News Release dated February 22, 2004).
All drill core has now been logged and the samples shipped to ACME Laboratory Ltd. in Vancouver for analyses. Final assay results are expected in January 2006. Drilling will resume in February 2006 with the initial holes designed to expand the Yellowjacket Zone gold mineralization along strike and to depth. Linda Dandy, P.Geo. of P&L Geological Services is supervising the field program on the Atlin Gold Project and is the "Qualified Person" for the purpose of National Instrument 43-101.
Notice of Shareholders' Meeting
The Company announces that its consolidated financial statements for the year ended August 31, 2005 will be filed on SEDAR on or before December 29, 2005. The Company also calls and provides notice to its shareholders of a meeting of shareholders that will be held at The International Hotel of Calgary, 220 Fourth Avenue S.W., Calgary, Alberta on March 23, 2006 at 2:00 P.M.. At this meeting, the shareholders will consider the Company's annual consolidated financial statements for the year ended August 31, 2005, elect directors, appoint auditors and conduct such other business as may come before the meeting.
The record date for the shareholders' meeting is February 13, 2006. The Company will mail to its shareholders and file on SEDAR a formal notice of meeting and information circular on or about February 24, 2006. The Board of Directors of the Company urges all shareholders to attend and participate in the meeting.
ON BEHALF OF THE BOARD
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 for Copper-Nickel- Palladium and Platinum in the Muskox Layered Intrusion in Nunavut, Arctic Canada.
For further information, contact Mr. Grant Hall at:
Phone: 1 (877) 339-3344
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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