CALGARY, ALBERTA--(Marketwire - Aug. 28, 2008) - Prize Mining Corporation ("Prize") (TSX VENTURE:PRZ) is pleased to announce that, after several unforeseen delays, it has now received at site its semi-autogenous grinding (SAG) mill. The SAG mill is currently being assembled and will be implemented into the existing circuit in order to increase throughput in the mill twofold. During assembly of the SAG mill, processing of the 250 tonne high grade gold-bearing sample blocks will continue utilizing the current set up. During this past week two additional 250 tonne blocks of gold-bearing rock have been processed as part of the Yellowjacket Zone bulk sampling (trial mining) program on Prize's Atlin Gold Property, located in northwestern British Columbia. See News Releases dated August 6, 14, and 21, 2008, for the previous weekly updates on the bulk sampling program.

The 10,000 tonne gold-rich bulk sample is being run through a Knelson designed processing plant as forty individual 250 tonne blocks. In order to calculate gold content of each block, full gold cleanup is done at the end of each block run. Over the past week Prize has completed processing the high grade gold-rich Block A27, plus Blocks A29 and B27. Block C27 is currently being grizzlied and crushed to 2 inch minus in preparation to begin feeding into the processing plant. C27 is the 9th block to be processed.

Block A27 was excavated from bedrock surface, blocks B27 and C27 were excavated below A27 with the bottom of C27 being 7.5 metres below bedrock surface. These blocks were intersected by 60o angled diamond drill hole YJ03-01. Drill core weighted gold assay results previously announced (see news release dated May 14, 2008) from this hole in relation to its corresponding sample block are tabulated below. The high variability in gold assays confirm the presence of the "nugget effect" on the gold mineralization in the Yellowjacket Zone.

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HOLE #      FROM (m)     TO (m)  WIDTH (m)  GOLD (g/t)  Associated Block #
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YJ03-01       11.66      14.53       2.87      421.83                  A27
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YJ03-01       14.53      17.40       2.87      527.69                  B27
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YJ03-01       17.40      20.27       2.87        9.33                  C27
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Although Block A27 exhibited a large quantity of gold mineralization when tabled, B27 appears to contain more gold than A27, being the richest block processed to date.