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Prize Makes Early Payment on the Atlin Gold Property

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Prize Mining Corporation ("Prize") (TSXV: PRZ) is pleased to announce that it has made an early payment to the vendor of the Atlin Gold Property. Under the Option Agreement dated October 16, 2003 with Mr. Lenard Diduck, Prize may earn a 100% interest in the Atlin Property by making cash payments totaling $2,590,000 over the next 7 years, and expending a minimum of $250,000 in exploration work per year for the first three years, for a total of $750,000. Prize can choose to accelerate the cash payments to exercise the Option early, without penalty.

Prize has met all obligations under this Option Agreement in regards to minimum exploration expenditures and has made all semi-annual property payments to Mr. Diduck. The next payment of $250,000 was due on October 1, 2005. Prize has now completed this payment to Mr. Diduck. The next property payment is due on April 1, 2006.

Mr. Diduck will be commencing a placer operation on the Atlin property over the Rock of Ages area during the next two months. Prize and Mr. Diduck have agreed to work together to expose areas over the Rock of Ages susceptibility anomaly (see press release dated May 25th, 2005) to allow Prize to complete a surface mapping and sampling program. The Rock of Ages anomaly is located approximately 1.5 km away from the Yellowjacket Zone, where all of the work to date has occurred. The Rock of Ages anomaly indicates the potential of another gold mineralized zone similar to the Yellowjacket.

ON BEHALF OF THE BOARD

"Feisal Somji"

FEISAL SOMJI, B.Sc., MBA
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: [phone]
Email: [e-mail]
Website: http://www.prizemining.com