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PXR

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Share Name Share Symbol Market Type
TSXV:PXR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Prominex Commences Reid Lot 50 (Lake Bond) Exploration Program

03/09/2013 11:00am

Marketwired Canada


Prominex Resource Corp. (TSX VENTURE:PXR) has received approval from the
Department of Natural Resources for an exploration program on its Reid Lot 50
(Lake Bond) property in Newfoundland. Prominex holds a 100% interest in the Reid
Lot 50 property. The property is subject to a 2% Net Smelter Royalty (NSR) in
favour of Reid Newfoundland Limited of St. John's, NL.


About Reid Lot 50 (Lake Bond)

The 870 ha base metal (Zn-Cu) property is situated within the Buchans-Roberts
Arm volcanic belt. It is easily accessible by road from the town of Grand
Falls-Windsor, a major commerce centre in central Newfoundland. This belt hosts
numerous volcanogenic massive sulphide (VMS) deposits including the past
producing Gullbridge Mine (Cu) which is located 12 km to the northeast of the
property.


Previous explorers of the property have defined three areas of Volcanogenic
Massive Sulphide (VMS) mineralization; the Main Zone; Zone 2 and Zone 3. In
1989, MacRee Resources Incorporated (MacRee) reported that the indicated and
possible reserves (Historical Resources) of 507,998 tonnes for the Main Zone at
an average grade of 4.15% Zn and 0.62% Cu. MacRee also reported a lower grade
resource of 2.6 Mt at an average grade of 2.09% Zn and 0.3% Cu.


The resource estimates quoted herein are historical resources and they are not
NI 43-101 compliant resources as they are estimates prepared by previous
operators. The Company cautions the reader that it has not completed the work
necessary to verify the classification of the mineral resources and that the
historical estimates should not be relied upon.


The Exploration Program

The exploration program includes a detailed compilation of all previous diamond
drill results in addition to a detailed geochemical soil sampling and
prospecting survey. The area of interest is at least 1,000 m wide and
approximately 1,000 m long. The purpose of the geochemical survey is to assess
past induced polarization (IP) anomalies and outline possible coincident
anomalous zones in preparation for further drilling programs. There are
coincident ground geophysical (Max-Min EM) anomalies associated with the Main
Zone of mineralization. Subject to suitable financing, the Company plans a 2,000
m diamond drill program for the winter/spring 2014 exploration program.


Prominex has contracted Agnerian Consulting Ltd. to supervise the exploration
program. Mr. Hrayr Agnerian, M. Sc (Applied), P.Geo., President of Agnerian
Consulting Ltd., is a Qualified Person as set out in the definitions of National
Instrument 43-101 (NI 43-101). Mr. Agnerian has reviewed the technical
information included in this news release.


About Prominex

Prominex is a Canadian company engaged in exploration and evaluation of
Volcanogenic Massive Sulphide (VMS) deposits in the Province of Newfoundland and
Labrador. The Company's two major assets are the Tulks Hill project and the Lake
Bond project, both situated in central Newfoundland.


ON BEHALF OF THE BOARD

Gordon Barron, President and CEO

Neither the TSX-V nor its Regulation Services Provider (as that term is defined
in the policies of the TSX-V) accepts responsibility for the adequacy or
accuracy of this release, and no securities regulatory authority has approved or
disapproved of the contents of this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prominex Resource Corp.
Gordon Barron
President and CEO
1.604.566.1094
www.prominex.ca

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