Prominex Resource Corp. Cancels Private Placement at $0.05 per Unit

Prominex Resource Corp. (TSX VENTURE:PXR) has cancelled the private placement as
amended on May 22, 2012 due to current market conditions. 


The Company has conducted exploration at its Lake Bond property during 2012,
however, going forward the size, scope, and objective(s) of the exploration
activity is dependent upon access to additional funds and subject to the
objective of limiting shareholder dilution, among other factors. 


The Company's mineral properties are in good standing and require minimal
expenditures until 2017. In 2013, the Company's Tulks Hill requires a legal
survey in order to make an application for a Mining Lease.  


The Company has completed the exploration expenditures required at the Lake Bond
property to earn its 100% interest, however, the Company is required to file an
assessment report with the Department of Mines in St. John's NL by September
30th, 2012. The Company will release results from this program once they have
been received and verified. The required report will then be filed with the
Department of Mines.  


The Company is evaluating its alternatives and an update will be released in the
next several weeks.


ON BEHALF OF THE BOARD

Gordon Barron, President and CEO

(TSXV:PXR)
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