Prize Mining Corporation TSX VENTURE: PRZ

Prize Mining Corporation Leases Portion of Its Atlin Placer Property

CALGARY, ALBERTA--(Marketwire - Feb. 5, 2009) - Prize Mining Corporation ("Prize") (TSX VENTURE:PRZ) is pleased to announce that it has entered into a lease with an arm's length party (the "Lessor") pursuant to which the Lessor was granted a 10 year lease on the western portion of Prize's placer property (the "Leased Property") in consideration of $450,000, of which $250,000 has been paid with the remaining $200,000 to be paid in instalments over the period ending on August 15, 2009.

About Prize Mining

Prize Mining Corporation (TSX VENTURE:PRZ) is dedicated to the exploration, discovery and development of precious metal deposits. Prize is exploring for gold in the Atlin area of northwestern British Columbia, Canada and for nickel-copper-palladium and platinum on the Muskox Layered Intrusion in Nunavut, Arctic Canada.

ON BEHALF OF THE BOARD OF PRIZE MINING CORPORATION

Harry McGucken, President and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.