Prominex Resource Corp.: Tulks Hill 2011 Drill Results

Prominex Resource Corp. (Prominex) (TSX VENTURE:PXR) has received assay results
for the drilling completed on the Tulks Hill property in central Newfoundland
and Labrador, Canada. The Tulks Hill property is a Joint Venture between
Prominex (51%) and Buchans Minerals Corporation (Buchans Minerals) (TSX
VENTURE:BMC) (49%). Prominex is the operator of the joint venture. 


The Tulks Hill Property comprises 20 mining claims (500 ha) located on the
island of Newfoundland in the province of Newfoundland and Labrador, Canada. The
property is located approximately 40 km southwest of the former mining town of
Buchans and 25 km southwest of the producing Duck Pond base metal mine. The
property is accessible from both the towns of Buchans and Millertown by
well-maintained pulpwood haulage roads. 


Buchans Minerals had previously declined to participate in this exploration
program in favour of dilution, however Prominex has provided Buchans Minerals
with a report indicating that the actual expenditure are below 85% of the
budgeted expenditure. As per the joint venture agreement, Buchans Minerals has
30 days from January 6, 2012, to elect whether or not to participate in the
program on a pro-rate basis to maintain its interest. Buchans Minerals is
currently reviewing the full report by Prominex and will consider whether to
participate in the program. 


SUMMARY OF DRILL RESULTS 

Five holes, for a total of 331 m of BQ core, were completed to better outline
mineralized zones of the T1 and T2 lenses identified by Asarco Exploration
Company of Canada Limited (Asarco) from the early 1960s to 1980. Results of the
2011 drilling program indicate that the five holes intersected moderately to
intensely altered felsic volcanic rocks with intersections of massive to
semi-massive sulphide mineralization. 


T1 Target Area 

Four diamond drill holes 11-RPA 34 to 37 tested the T1 target area over a strike
length of approximately 80 m. Three of the four holes intersected intensely
foliated, subvertical, and variably altered felsic metavolcanic rocks, with
common fine-grained disseminated pyrite with multiple intersections of
semi-massive to massive sulphides (sphalerite and/or chalcopyrite) ranging in
widths from 1.2 m to 18 m. Note: all mineralized intersections are core lengths
and represent approximately 130% of true width.




--  Diamond drill hole 11-RPA 34 intersected 18 m grading 0.19% Cu, 1.89%
    Zn, 0.75% Pb, 23 g/t Ag, and 0.28 g/t Au, from 17 m to 35 m, including a
    3 m intersection (from 26 m to 29 m) grading 0.37% Cu, 3.04 % Zn, 0.22%
    Pb, 13.8 g/t Ag, and 0.35 g/t Au. 
    
    
--  Diamond drill hole 11-RPA 36 intersected 6 m grading 0.23% Cu, 4.39% Zn,
    0.81% Pb, 37.1 g/t Ag, and 0.35 g/t Au from 40 m to 46 m. 
    
    
--  Diamond drill hole 11-RPA 37 intersected 5 m grading 0.24% Cu, 1.51% Zn,
    0.61% Pb, 15.7 g/t Ag, and 0.14 g/t Au from 37 m to 42 m, including a
    2.3 m intersection (from 37.3 m to 39.6 m) grading 0.32% Cu, 2.64% Zn,
    1.24% Pb, 27.6 g/t Ag, and 0.25 g/t Au. 

                                                                            
Note: True widths of mineralized intersections are approximately 77% of the 
core lengths.                                                               
                                                                            
T2 Target Area                                                              
                                                                            
Diamond drill hole 11-RPA-39 tested the T2 target area and intersected      
similar foliated felsic metavolcanic rocks with multiple intersections      
ranging from 1.2 m to 3 m as follows: ((i)true width)                       
                                                                            

--  0.05% Cu, 0.83% Zn, 0.47% Pb, 20.1 g/t Ag, and 0.05 g/t Au over 1.2 m 
    
    
--  0.03% Cu, 0.14% Zn, 0.02% Pb, 2.1 g/t Ag, and 0.01 g/t Au over 3 m 
    
    
--  0.16% Cu, 1.62% Zn, 0.17% Pb, 14.2 g/t Ag, and 0.27 g/t Au over 2 m. 

                                                                            
Note: True widths of mineralized intersections are approximately 77% of the 
core lengths.                                                               
                                                                            
Results of sampling the five drill holes completed during the 2011 diamond- 
drilling program are as follows:                                            
                                                                            
                  Tulks Hill 2011 Mineralized Intersections                 
                                                                            
----------------------------------------------------------------------------
Hole ID    Intersection (m)   Interval (m)  % Cu  % Zn  % Pb  g/t Ag  g/t Au
         -------------------                                                
           From           To                                                
----------------------------------------------------------------------------
11-RPA-34  17.0         35.0          18.0  0.19  1.89  0.75    23.0    0.28
----------------------------------------------------------------------------
Including  26.0         29.0           3.0  0.37  3.04  0.22    13.8    0.35
----------------------------------------------------------------------------
11-RPA-35  12.5         16.0           3.5  0.01  0.07  0.01     0.9    0.01
----------------------------------------------------------------------------
11-RPA-36  10.0         11.0           1.0  0.03  0.11  0.01     2.0    0.01
----------------------------------------------------------------------------
11-RPA-36  40.0         46.0           6.0  0.23  4.39  0.81    37.1    0.35
----------------------------------------------------------------------------
11-RPA-37  37.0         42.0           5.0  0.24  1.51  0.61    15.7    0.14
----------------------------------------------------------------------------
Including  37.3         39.6           2.3  0.32  2.64  1.24    27.6    0.25
----------------------------------------------------------------------------
11-RPA-39   5.4          6.6           1.2  0.05  0.83  0.47    20.1    0.05
----------------------------------------------------------------------------
11-RPA-39  12.0         15.0           3.0  0.03  0.14  0.02     2.1    0.01
----------------------------------------------------------------------------
11-RPA-39  82.0         84.0           2.0  0.16  1.62  0.17    14.2    0.27
----------------------------------------------------------------------------
Note: True widths of mineralized intersections are approximately 77% of the 
core lengths.                                                               
                                                                            
                 Tulks Hill 2011 Diamond Drilling Locations                 
                                                                            
----------------------------------------------------------------------------
Hole ID                     Elevation   Azimuth   Inclination  Depth  Target
           UTM Coordinates        (m) (degrees)    (degrees)    (m)       
         ------------------                                                 
          Northing  Easting                                                 
----------------------------------------------------------------------------
11-RPA-34                                   152                             
                                        degrees                           
          5373 306  485 307       389       00'   -50 @ collar   51.0     T1
----------------------------------------------------------------------------
11-RPA-35                                   149                             
                                        degrees -45.7 @ collar              
          5373 354  485 321       376       30'   -40.8 @ 40 m   39.0     T1
----------------------------------------------------------------------------
11-RPA-36                                   152                             
                                        degrees   -45 @ collar              
          5373 369  485 345       371       00'   -41.3 @ 90 m   93.3     T1
----------------------------------------------------------------------------
11-RPA-37                                   152                             
                                        degrees   -55 @ collar              
          5373 384  485 381       374       00'    -44.5 @ 5 m   45.0     T1
----------------------------------------------------------------------------
11-RPA-39                                   152                             
                                        degrees                            
          5373 294  485 384       396       00'   -55 @ collar  103.0     T2
----------------------------------------------------------------------------
Total                                                           331.3       
----------------------------------------------------------------------------
Note: Azimuth for holes is at collar.                                       



QUALITY ASSURANCE 

The company has instituted a strict chain of custody of the core and field
procedures as recommended by Mr. Hrayr Agnerian, M. Sc (Applied) P.Geo. These
procedures require that the core is securely boxed at the drill site from where
the company takes possession and transports it directly to the core processing
facility at Buchans, where it is kept in a secured building until logged and
sampled. The core is cut in half with a diamond saw, with one half being placed
in the core tray for future reference and study, and the other half being bagged
as a sample for direct transport to the laboratory.


All samples were collected in accordance with industry standards and are
submitted to Eastern Analytical Limited, Springdale, Newfoundland. The company
has implemented a Quality Control and Quality Assessment procedure that involves
inclusion of blanks and standards. 


QUALIFIED PERSON 

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 is the author of the NI 43-101 "Technical
Report on the Tulks Hill Cu-Zn Property, Newfoundland" prepared for Tulks Hill
Joint Venture between Prominex Resources Corp. (the "Operator") and Buchans
River Ltd., (TSX VENTURE:BUV), now Buchans Mineral Corporation (TSX VENTURE:BMC)
and dated July 22, 2008. The report is available on SEDAR (www.sedar.com) and on
the company website (www.prominex.ca). Mr. Agnerian has reviewed the technical
information included in this news release. 


About Buchans Minerals 

Buchans Minerals is an Atlantic Canada based resource company that has been
focused on exploring and developing base metal properties in the historic
Buchans mining camp in central Newfoundland, Canada, and manganese properties in
Western, New Brunswick, Canada. 


About Prominex 

Prominex is a mineral exploration company engaged in acquiring and evaluating
assets in Canada and holds interests in mineral properties on the island of
Newfoundland in the province of Newfoundland and Labrador, Canada. The Company's
properties are currently at an "exploration stage." The Company currently has
62,320,890 shares issued and outstanding. 


Mr. Gordon Barron stated that "Prominex is very encouraged by the 2011 diamond
drilling results and we look forward to an exciting 2012 exploration season. Our
plans will be announced once Prominex and our joint venture partner Buchans
Minerals Corporation have reviewed and approved an exploration program and
budget for additional drilling to test the T1 and T2 target areas, as
recommended by Mr. Hrayr Agnerian, P.Geo." 


FORWARD LOOKING STATEMENTS 

Certain information contained herein may constitute forward-looking statements
within the meaning of applicable securities laws. Forward-looking statements may
include estimates, plans, expectations, opinions, forecasts, projections,
guidance, or other statements that are not statements of fact. Although the
Company believes the expectations reflected in such forward-looking statements
are reasonable, they can give no assurance that such expectations will prove to
have been correct. The Company cautions that a number of factors, many of which
are beyond their control, will affect actual performance, and that future events
and results may vary substantially from what the Company currently foresees. The
Company's forward-looking statements are expressly qualified in their entirety
by this cautionary statement. 


ON BEHALF OF THE BOARD 

Gordon Barron, President and CEO