Prosperity Goldfields' Gold Grain Analyses Suggests Southern Extension of the Rusty Discovery



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2012) - Prosperity Goldfields Corp. (the "Company" or "Prosperity") (TSX VENTURE:PPG) announces the receipt of gold grain analysis completed on 44 bulk till samples collected during the summer exploration program at its Kiyuk Lake project, Nunavut (the "Property"). Up to 1,720 gold grains per sample were counted in material from the Rusty, Cobalt and Amundsen discoveries.Abundant gold grains (926) in a sample 400m down-ice from the original Rusty discovery may indicate a proximal bedrock gold source suggesting significant south-ward extension of known Rusty mineralization.

Bulk till samples were collected from regions of mineralization and at select locations across the Property. Samples collected around the Rusty discovery are characterized by greater than 1,000 gold grains contained per sample with delicate or pristine shapes indicating limited down-ice transport and proximity to a bedrock gold source. Abundant gold grains (926) in a sample 400m down-ice from the original Rusty drill discovery may indicate a proximal bedrock gold source suggesting significant south-ward extension of known Rusty mineralization (Figure 1 available at the following address: http://media3.marketwire.com/docs/121114_PPG_Fig-1.pdf). Additional bulk till samples, up to one kilometer down-ice from the Rusty discovery, contain up to 313 visible grains. These down-ice samples still contain pristine gold grains indicating mineralization may extend even further south.

Bulk till samples collected south of the Cobalt discovery returned up to 943 gold grains per sample (Figure 2 available at the following address: http://media3.marketwire.com/docs/121114_PPG_Fig-2.pdf). These samples were collected in an area with a high concentration of mineralized boulders assaying from trace up to 13.9 g/t Au (previously reported). Gold grain shape analyses of samples in this area found a majority of grains were pristine (762 of 943 grains). Previous drilling here in 2008 and 2011 targeted the site of these glacially dispersed mineralized boulders but produced negative results. Drilling in 2013 will be located up-ice to discover the lode source for these anomalous boulders and the gold in the bulk till samples.

"This systematic till sampling and additional gold grain analysis from selected till samples has been successful in allowing us to refine targets at Kiyuk." commented Adrian Fleming, CEO of Prosperity Goldfields. "The indicated extensions to Rusty Zone, the Property's highest ranked target, is a very positive development. This information will help the team to more precisely locate drill holes for the upcoming 2013 program."

The bulk till samples involved collecting 10 kilograms of sample material from C-horizon till. All bulk till samples were submitted to Overburden Drilling Management in Nepean, Ontario for grain analysis. Overburden Drilling Management is not an accredited assay laboratory but is a well-established mineral separation facility. No independent QAQC program was in place to monitor the accuracy of the gold grain counts, although field duplicates were used to monitor data precision.

A drilling program is being planned for Spring 2013. The scope of the program is a work in progress including prioritizing drill targets. Adrian Fleming RPGeo, MAusIMM(CP) is a Qualified Person and is responsible for the technical content of this press release.

Additional information and maps displaying these results can be viewed on the company web site at www.prosperitygoldfields.com

ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

Adrian Fleming, CEO and Director

Prosperity Goldfields Corp. ("Prosperity" or the "Company") (TSX VENTURE:PPG) has arranged a brokered private placement (the "Offering") with a syndicate of agents led by Secutor Capital Management and including Jennings Capital Inc. (collectively, the "Agents"). The Offering will consist of the issuance of up to 15,000,000 flow-through units ("Flow-Through Units") and 2,941,176 units ("Units") on a best-efforts basis at a price of 20 cents per Flow-Through Unit and 17 cents per Unit, for aggregate gross proceeds of up to $3.5 million.

The Company intends to use the net proceeds of the Offering for exploration and drilling activities on the Company's Kiyuk property this winter and for working capital.

Each Flow-Through Unit will consist of one "flow-through share", as defined in subsection 66(15) of the Income Tax Act (Canada) and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Unit will consist of one common share and one-half of one Warrant. Each Warrant will entitle the holder to purchase one common share of the Company (on a non-flow-through basis) at an exercise price of 28 cents until the date which is 18 months following completion of the Offering.

The Company has granted the Agents an option, exercisable at the applicable issue price at any time prior to the closing of the Offering, to purchase that number of additional Flow-Through Units or Units that is equal to 20% of the Flow-Through Units and Units sold pursuant to the Offering, to cover over-allotments, if any.

In connection with the Offering, the Company will pay a cash commission to the Agents in an amount equal to 7 per cent of the gross proceeds of the Offering and issue to the Agents compensation options entitling the Agents to purchase that number of common shares of the Company (on a non-flow-through basis) that is equal to 7 per cent of the number of Flow-Through Units and Units sold pursuant to the Offering, at an exercise price of 20 cents until the date which is 18 months following completion of the Offering.

The Offering is scheduled to close on or about November 15, 2012, and is subject to certain conditions, including approval of the TSX Venture Exchange.

Additional information about Prosperity and its projects can be viewed on Prosperity's website at www.prosperitygoldfields.com.

ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

Adrian Fleming, CEO and Director

Prosperity Video Presentation

Adrian Fleming, President of Prosperity Goldfields (TSX.V:PPG), gave a presentation at the 2012 Subscriber Investment Summit in Vancouver.


Click Here To Watch The Prosperity Goldfields Video Presentation

Prosperity Goldfields Discovers Multiple New Gold Targets at Kiyuk Lake, Nunavut



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2012) - Prosperity Goldfields Corp. (the "Company" or "Prosperity") (TSX VENTURE:PPG) is pleased to announce the following highlights from the summer exploration program at its Kiyuk Lake project:
•New surface showing identified (Rasmussen) with values up to 6.96 g/t Au
•Three untested targets delineated from grid till sampling with values up to 3.6 ppm Au
•New areas of interest outlined from regional prospecting with values up to 25 g/t Au

The newly identified Rasmussen showing, as shown in Figure 1, is characterized by sericite and silica alteration with pyrrhotite and pyrite mineralization in fragmental felsic volcanic host rocks. Several rock samples were collected in the area including four samples ranging from 1.47 g/t Au to 6.96 g/t Au. The northeast trending zone of mineralization and alteration has been traced for approximately 80m proximal to a contact with interbedded siltstone and limestone. Given the abundance of locally derived boulders of mineralization the Rasmussen showing is drill-ready.

Additional anomalous gold values were obtained from samples of glacially transported boulders at several locations outside of known target areas. Three areas of particular interest include a sample in the southwest corner of the property with a gold value of 25 g/t, samples ranging from 1.25-2.4 g/t Au to the north of Kiyuk Lake and 2.41-2.58 g/t Au northwest of the Rusty discovery.

Figure 1 - Map showing the location of rock samples from the 2012 summer exploration program at Kiyuk Lake is available at the following address: http://media3.marketwire.com/docs/121009-PPG_Figure1.pdf.

In addition to the regional till sampling program completed over the entire property (previous release: September 25th, 2012), the Company conducted grid till sampling over the Rusty and Amundsen zones.

The Rusty grid was completed as an orientation study to determine the size, magnitude, and orientation of the till dispersal train associated with the mineralized zone discovered in 2011 (37.8 m at 4.2 g/t Au; Drill hole RU11-001). Elevated gold values extend southwest from the surface showing for 1 km with values decreasing from 1.8 to 0.072 ppm Au in a down-ice direction (see the attached figure). Bulk till samples from Rusty have yielded gold grain counts up to 1720 grains based on preliminary results. These results confirm Rusty as a high priority target for follow up drilling.

The Amundsen grid covered a 1.8 x 1.8 km area from Amundsen to North Snake. Systematic till sampling has refined the bedrock source area for numerous mineralized boulders in this region of sparse outcrop. Anomalous gold values in till of up to 3.6 ppm were identified within the Amundsen grid, higher values than Rusty. Several ribbon-shaped gold dispersal trains are evident in the data and three new untested target areas have been outlined as shown in Figure 2.

Figure 2 - Map showing gold results from grid till sampling is available at the following address: http://media3.marketwire.com/docs/121009-PPG_Figure2.pdf.

The grid sampling program involved collecting between 1 and 2 kilograms of sample material from C-horizon till. A total of 587 grid samples, including field duplicates were collected. Grid samples were orientated perpendicular to the average ice flow direction. Sample locations were adjusted to avoid low-lying areas where C-horizon till samples were absent or masked beneath glaciofluvial sediments.

All rock and till assay results from the summer program have now been received. From the results of the summer program the Company is excited to advance Rasmussen and new target areas and will continue to develop the Rusty discovery.

A comprehensive QA/QC program is in place to monitor precision and accuracy of assay results. All till samples were submitted with certified reference materials and were sieved to -230 mesh by the Acme Analytical Laboratories preparation lab in Timmins, Ontario. The pulps were transferred to Acme Analytical Laboratories Vancouver, British Columbia for analysis. Pulps were re-mixed after transport to account for gravity settling of Au grains during transport. A 30 g portion was digested in aqua regia acid and analyzed for Au and a suite of 36 elements by ICP-MS. Acme Analytical Laboratories is ISO 9001 accredited. Rock samples were submitted to SGS Laboratories for gold fire assay and multi element ICP analysis. Gold grain counts are being completed by Overburden Drilling Management.

Prosperity Goldfields Completes Summer Exploration Program at Kiyuk Lake, Nunavut



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2012) - Prosperity Goldfields Corp. (the "Company" or "Prosperity") (TSX VENTURE:PPG) announces the completion of the summer exploration program on its 100% owned Kiyuk Lake Gold Project, Nunavut (the "Property").

The objectives of the summer program were: to field check a new glacial geology map of the Property; to collect till geochemical samples over the entire 590 sq km Property; to grid till sample priority targets; and to prospect and geologically map known targets and new areas of interest to refine drill targeting.

"This carefully planned summer exploration program by six geologists, four samplers and the supporting team has exceeded our expectations," commented Adrian Fleming, PPG CEO. "More samples were collected than planned, the early semi-quantitative hand-held XRF results are compelling and a much improved understanding of the geology and controls to mineralization has resulted. We eagerly await the full assay results from this recent work."

Highlights
•Three new areas of interest identified by elevated arsenic geochemistry from initial field XRF analysis of property wide till samples.
•Prospecting and mapping has identified two new areas of brecciated and/or altered, pyrrhotite-bearing rocks in the southern part of the property.

Orientation Geochemistry Rusty Zone

A till and soil geochemical and mineralogical orientation study was completed over the Rusty zone to assess the magnitude and extent of surface indications of gold mineralization intersected in all 3 diamond drill holes completed to date. Samples were collected directly over the known mineralization and for over 1 km to the southwest in the glacial dispersal direction. Analysis of the samples by hand-held XRF indicate that pathfinder elements, arsenic and cobalt, are elevated above and 'down-ice' of the known mineralized zone confirming that till sampling is a viable tool for exploration. Additionally, visible gold grains were panned from two till samples, indicating that mineralogical exploration methods will also have application in this area. ICP-MS analysis of till and soil samples for gold and multi-elements is being completed at ACME Analytical Laboratories and results are pending. Additional samples were collected for mobile metal ion (MMI™) analyses at SGS, as well as an assessment of the gold grain content of till at Overburden Drilling Management.

Property Wide & Grid Geochemical Sampling

A total of 539 till samples were collected at 1 km spacing over the entire Property. Arsenic values (by hand-held XRF) of samples near Cobalt, Amundsen, and Rusty zones are elevated, suggesting that the chosen sample spacing was adequate to assess the Property for new mineralized trends. Three new areas with elevated arsenic were identified and preliminary prospecting of these areas has been completed. Gold and multi-element assays of till samples are pending.

Detailed grid till sampling (512 samples) was completed over a large area covering the Amundsen and North Snake zones. Given the lack of rock exposure in these prospective areas, assay results will better define drill targets for a proposed spring 2013 drill program.

To see two maps associated with this release, please visit the following link: http://media3.marketwire.com/docs/ppg821i.pdf.

Prospecting and Geological Mapping

Prospecting efforts focused on characterizing the known mineralized zones, detailed follow-up along trend of known mineralized zones, and regional traverses along structural and lithologic features interpreted from airborne magnetic data. A total of 210 rock samples were collected. Assays are being completed at SGS and results are pending. Mapping traverses were completed across much of the Property with the southern portion of the Property mapped in detail.

Gold mineralization on the Property has been divided into three end members based on surface mapping and review of drill core: brecciated sandstone (Rusty); altered felsic volcaniclastics (Cobalt and Amundsen), and altered polymictic conglomerate (Gold Point). The existence of felsic volcanic rocks in the Kiyuk Basin has not previously been documented. Regardless of host rock type, pyrrhotite appears to be the important sulphide with respect to gold mineralization with pyrite, arsenopyrite and magnetite being of secondary importance. Albite, actinolite, and ferroan calcite are the important alteration minerals associated with gold mineralization, the relative abundance of each varying from zone to zone. These observations are supported by petrographic descriptions completed by Vancouver Petrographics. North and northwest trending faults are evident at the Rusty and Gold Point zones suggesting that these features may represent the conduits the have focused gold mineralization.

Prospecting and mapping during the summer 2012 program has identified two new areas of brecciated and/or altered, pyrrhotite-bearing rocks in the southern part of the property. Whether or not these represent two new mineralized trend is uncertain as assays are pending.

Submission of all rock and till samples to SGS and Acme, respectively, was accompanied by suitable certified reference materials (CRMs), blanks and field duplicates. Use of a hand-held XRF on site included a program of analyzing CRMs, blanks and analytical duplicates on a routine basis to monitor equipment performance and data quality.

Adrian Fleming RPGeo is a Qualified Person and is responsible for the technical content of this press release. Dennis Arne PGeo (BC) is a Qualified Person responsible for geochemical data quality for the project.

ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

Adrian Fleming, CEO and Director

Prosperity Goldfields (PPG.V) Commences Its Summer Exploration Program at Kiyuk Lake, Nunavut




VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 10, 2012) - Prosperity Goldfields Corp. (the "Company" or "Prosperity") (PPG.V) is pleased to announce the commencement on July 15th of an exploration program on its 100% owned Kiyuk Lake Gold Project, Nunavut (the "Property"). The field work will consist of mapping and prospecting, plus sampling of surficial media for geochemistry. This work, described in more detail below, will lead to an improved understanding of the known mineralized zones within the Property area; provide a basis for assessing the Property for other mineralized trends; and prioritize new and existing targets that have not yet been drilled. Overall, this program aims to develop a better Property wide foundation upon which to continue an aggressive drilling program in early Spring 2013.

"The upcoming summer field program will be the first time the new technical team at Prosperity has had an opportunity to see the surface expression of the multiple mineralized gold occurrences at Kiyuk Lake," commented Adrian Fleming, Prosperity CEO. "It is also the first, comprehensive, systematic, property wide geochemical survey since lake sediment sampling by the Canadian Geological Survey in 1976 which ultimately lead to the initial discovery of mineralized boulders on the property. We are eager to see the result of this activity."

Surficial media sampling will be done in three phases: orientation till and soil sampling over known gold zones, regional till sampling across the entire property, and detailed till grid sampling over existing gold discoveries and untested drill targets. The results of the orientation study will provide important geochemical fingerprint(s) over known gold zones and provide a basis for assessing the results of the property wide sampling program. The regional sampling will consist of collecting till samples at sites spaced 1km apart throughout the entire Property. Given the lack of outcrop, this Property-wide coverage is instrumental in focusing prospecting efforts and identifying new mineralized trends within the large land package. These samples will be analyzed in the field using a hand-held XRF for pathfinder elements such as Arsenic, which will allow for prospecting teams to be deployed efficiently. Additionally, surficial materials over other prospects with mineralized boulders will be sampled to help identify the bedrock source.

Mapping and prospecting will focus initially on utilizing new ground magnetic survey results in order to improve our understanding of the lithologic and structural controls on mineralization within the known zones (Rusty, Cobalt, Gold Point, & Amundsen). This will allow for effective placement of future drill holes. Additional prospecting would be based on results of the regional till sampling as well as structural zones of interest interpreted from airborne magnetic data.

The company will not be undertaking field work on its Yukon property this year. Adrian Fleming, RPGeo, is a qualified person and is responsible for the technical content of this press release.

ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

Adrian Fleming, CEO and Director

in Northern Canada http://www.prosperitygoldfields.com/projects/kiyuk-lake/

where is this located?

Prosperity Goldfields Corp.: Spring Drill Program Identifies New Gold Zone At Kiyuk Lake, Nunavut



VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 29, 2012) - Prosperity Goldfields Corp. (the "Company" or "Prosperity") (TSX VENTURE:PPG) reports that assay results have been received from all twelve holes of the recently completed spring drill program of 2,652 m of drilling on its 100 percent owned Kiyuk Lake gold property (the "Property") located in southern Nunavut.

The last hole of the spring program, KI12-012, (at a new zone named "Amundsen") was sited to test multiple magnetic highs in an area where surface sampling of boulders returned grades ranging from below detection limit to 15 g/t Au with 7 of 14 samples returning greater than 2 g/t Au. The Amundsen hole was abandoned at 212.4 m depth whilst in mineralization, due to a drilling problem. The last part of the hole from 170 m cut a wide variably mineralized zone containing silicified, brecciated and veined conglomerate and siltstone that returned 42.4 m at 0.97 g/t Au including 12 m at 2.3 g/t Au from 170 m (Table 1). The breccia matrix and veins consist primarily of actinolite, chlorite, albite, and calcite, with variable amounts of pyrrhotite and rare biotite. This style of mineralization is similar to that observed at other Kiyuk zones. Further drilling at Amundsen, including deepening Hole KI12-12, is warranted to further assess this new discovery.

Amundsen is now the fourth gold zone at Kiyuk to provide interesting drill results (following Rusty, Cobalt and Gold Point). It is located approximately 1km southwest of the Cobalt gold zone.

In a previous news release dated May 7, 2012, results of the first three holes of the spring 2012 program at the Rusty zone were reported, including 61.5 m at 3.3 g/t Au from 159 m in Hole KI12-003 (Table 1).

The remaining nine holes were drilled at two other known mineralized zones, Gold Point and Cobalt, and two previously undrilled targets, North Snake and Amundsen. Of these, the most encouraging results were from Hole KI12-006 at Gold Point that intersected two mineralized zones which returned 12 m at 2.4 g/t Au from 120 m, and 12 m at 3.9 g/t Au from 163.5 m. Drilling at Cobalt returned encouraging results in Hole KI12-008 including 9 m at 2.05 g/t Au from 57 m and 18 m at 1.36 g/t Au from 73.5 m.

"The spring drill program, which had to be terminated early due to unseasonably warm conditions met our goals of further testing the three drill discoveries made in 2011 and drilling two new targets. The indication of a new discovery at Amundsen is an excellent development. There are now four zones of gold mineralization at Kiyuk which need more evaluation." Comments Adrian Fleming, Prosperity CEO. "Not only did this spring drilling confirm the substantial potential at the Rusty Zone but it has further confirmed that additional exploration needs to be done on other yet to be drill tested targets on the property. We are now planning a summer exploration program which is expected to commence at the beginning of July."

Table 1 summarizes composite assay results from the entire twelve hole 2652 m spring drill program. Table 2 lists the collar coordinate and orientation for each drill hole.



Table 1: Composited assay results from the 12 hole Spring drill program



Hole_ID

Zone

From (m)

Length (m)

Au g/t1



KI12-001

Rusty

20.0

15.0

1.08




Rusty

81.5

23.0

1.49




Rusty

115.0

10.5

3.87




Rusty

128.5

10.5

4.56




Rusty

166.1

8.9

5.10



KI12-002

Rusty

137.0

9.0

5.40




Rusty

156.5

18.0

3.47




Rusty

195.5

7.5

2.82




Rusty

218.0

22.5

1.80










KI12-003

Rusty

19.5

19.5

3.49




Rusty

108.0

10.5

7.17




Rusty

159.0

61.5

3.34




Including2

Rusty

169.5

7.5

3.70




Including2

Rusty

181.5

15.0

6.69



KI12-004

Gold Point

No significant Au mineralization



KI12-005

Gold Point

No significant Au mineralization



KI12-006

Gold Point

120

12

2.43




Gold Point

163.5

12

3.99



KI12-007

North Snake

No significant Au mineralization



KI12-008

Cobalt

57

9

2.05




Cobalt

73.5

18

1.36



KI12-009

Cobalt

68

9

1.00



KI12-010

North Snake

No significant Au mineralization



KI12-011

Cobalt

No significant Au mineralization



KI12-012

Amundsen

170

12

2.33



1 weighted averages calculated using a 0.5 g/t cut off, minimum composite grade of 1.0 g/t, minimum composite length of 6m, and maximum internal dilution length and grade of 3m and 100 ppb respectively.



2 weighted averages for sub intervals calculated using a 1.0 g/t cut off, minimum composite grade of 3.0 g/t, minimum composite length of 6m, and no internal dilution











Table 2: Drill hole collar coordinates



Hole_ID

Easting1

Northing1

Elevation (m)

Azimuth

Dip

Total depth (m)



KI12-001

425904

6700019

332

90

50

233.5



KI12-002

425750

6699846

325

90

-50

273.1



KI12-003

425801

6699873

332

90

-50

291.7



KI12-004

419018

6698290

340

155

-50

203.3



KI12-005

419018

6698290

340


-90

264.2



KI12-006

418948

6698318

339

155

-55

191.1



KI12-007

426100

6701328

313

90

-70

245.97



KI12-008

425919

6703474

320

105

-50

172.28



KI12-009

425919

6703474

320

100

-70

197.21



KI12-010

426029

6701179

308

90

-50

178.92



KI12-011

425908

6703538

325

105

-50

188.29



KI12-012

425582

6702576

331

140

-50

212.45



1 Coordinate System: UTM NAD 83, Zone 14N


The Kiyuk Lake property covers 590 square kilometers and contains at least four other targets requiring further exploration and drilling. The exploration program is being directed by Adrian Fleming, CEO and a Director of Prosperity. Additional technical guidance for the program including specialist expertise in geology, geochemistry and geophysics is being provided by Revelation Geoscience Ltd.

A comprehensive QA/QC program is in place to monitor precision and accuracy of assay results. Drill core samples are being submitted with certified reference materials and were analyzed by SGS Minerals Services, Red Lake, Ontario. The QA/QC data are routinely plotted and assessed against industry standard quality assurance guidelines. Gold analyses are by fire assay using a 30g charge and an atomic absorption spectrometry finish. Over-range assays greater than 10 g/t are re-assayed using a gravimetric finish. SGS Mineral Services is ISO 9001 accredited.

Adrian Fleming RPGeo is a Qualified Person and is responsible for the technical content of this press release. Dennis Arne PGeo (BC) is a Qualified Person responsible for the quality of the data referred to in this press release.

Additional information including maps and cross sections displaying these drill results can be viewed on the company web site at www.prosperitygoldfields.com.

ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

Adrian Fleming, CEO and Director

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Prosperity Goldfields Corp. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Prosperity Goldfields Corp. does not assume the obligation to update any forward-looking statement, except as required by applicable law.