Prosperity Goldfields' Gold Grain Analyses Suggests Southern Extension of the Rusty Discovery

Prosperity Goldfields Corp. (the "Company" or "Prosperity") (TSX VENTURE:PPG)
announces the receipt of gold grain analysis completed on 44 bulk till samples
collected during the summer exploration program at its Kiyuk Lake project,
Nunavut (the "Property"). Up to 1,720 gold grains per sample were counted in
material from the Rusty, Cobalt and Amundsen discoveries. Abundant gold grains
(926) in a sample 400m down-ice from the original Rusty discovery may indicate a
proximal bedrock gold source suggesting significant south-ward extension of
known Rusty mineralization.


Bulk till samples were collected from regions of mineralization and at select
locations across the Property. Samples collected around the Rusty discovery are
characterized by greater than 1,000 gold grains contained per sample with
delicate or pristine shapes indicating limited down-ice transport and proximity
to a bedrock gold source. Abundant gold grains (926) in a sample 400m down-ice
from the original Rusty drill discovery may indicate a proximal bedrock gold
source suggesting significant south-ward extension of known Rusty mineralization
(Figure 1 available at the following address:
http://media3.marketwire.com/docs/121114_PPG_Fig-1.pdf). Additional bulk till
samples, up to one kilometer down-ice from the Rusty discovery, contain up to
313 visible grains. These down-ice samples still contain pristine gold grains
indicating mineralization may extend even further south. 


Bulk till samples collected south of the Cobalt discovery returned up to 943
gold grains per sample (Figure 2 available at the following address:
http://media3.marketwire.com/docs/121114_PPG_Fig-2.pdf). These samples were
collected in an area with a high concentration of mineralized boulders assaying
from trace up to 13.9 g/t Au (previously reported). Gold grain shape analyses of
samples in this area found a majority of grains were pristine (762 of 943
grains). Previous drilling here in 2008 and 2011 targeted the site of these
glacially dispersed mineralized boulders but produced negative results. Drilling
in 2013 will be located up-ice to discover the lode source for these anomalous
boulders and the gold in the bulk till samples. 


"This systematic till sampling and additional gold grain analysis from selected
till samples has been successful in allowing us to refine targets at Kiyuk."
commented Adrian Fleming, CEO of Prosperity Goldfields. "The indicated
extensions to Rusty Zone, the Property's highest ranked target, is a very
positive development. This information will help the team to more precisely
locate drill holes for the upcoming 2013 program." 


The bulk till samples involved collecting 10 kilograms of sample material from
C-horizon till. All bulk till samples were submitted to Overburden Drilling
Management in Nepean, Ontario for grain analysis. Overburden Drilling Management
is not an accredited assay laboratory but is a well-established mineral
separation facility. No independent QAQC program was in place to monitor the
accuracy of the gold grain counts, although field duplicates were used to
monitor data precision. 


A drilling program is being planned for Spring 2013. The scope of the program is
a work in progress including prioritizing drill targets. Adrian Fleming RPGeo,
MAusIMM(CP) is a Qualified Person and is responsible for the technical content
of this press release. 


Additional information and maps displaying these results can be viewed on the
company web site at www.prosperitygoldfields.com


ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

Adrian Fleming, CEO and Director 

This press release includes "forward-looking statements" including forecasts,
estimates, expectations and objectives for future operations that are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the
control of Prosperity Goldfields Corp. Statements regarding mineral exploration
operations and objectives are subject to risk, including, but are not limited
to, exploration and geologic risk, inflation and costs of goods and services,
property title issues and regulatory approvals. Investors are cautioned that any
such statements are not guarantees of future performance and that actual results
or developments may differ materially from those projected in the
forward-looking statements. Such forward-looking information represents
management's best judgment based on information currently available. No
forward-looking statement can be guaranteed and actual future results may vary
materially. Prosperity Goldfields Corp. does not assume the obligation to update
any forward-looking statement, except as required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Prosperity Goldfields Corp.
Dwane Brosseau
Investor Relations
Toll Free: 1 855 237 6274 or Direct: 604 662 3380
info@prosperitygoldfields.com
www.prosperitygoldfields.com


Frontline Communications
Leo Karabelas
Mobile: 416 543 3120
(TSXV:PPG)
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