Prince Resource Corporation (TSX VENTURE:PNR.H) (the "Company") is pleased to
announce that the cease trade orders issued by the Alberta Securities Commission
and the British Columbia Securities Commission dated September 26, 2003 and
September 17, 2003, respectively (together, the "CTOs"), were fully revoked by
applicable securities regulatory authorities on July 3, 2012 and July 4, 2012
respectively. The CTOs were issued in connection with the Company's delay in
filing its audited annual financial statements and related management's
discussion and analyses. 


Since the date of the CTOs, the Company has filed the following documents in
order update its continuous disclosure and to provide current and relevant
information regarding the business and affairs of the Company to its
shareholders and the public as is otherwise required under applicable securities
Laws :




a.  On April 20, 2011, the Company filed its annual financial statements,
    related management's discussion and analysis and certificates of annual
    filings for the years ended March 31, 2007 through March 31, 2010, and
    on May 26, 2011, the Company filed its interim unaudited financial
    statements and certificates of interim filings for the three month
    period ended June 30, 2010, the six month period ended September 30,
    2010, and the nine month period December 31, 2010.  
b.  On July 13, 2011, the Applicant filed its management's discussion and
    analysis for the three month period ended June 30, 2010, the six month
    period ended September 30, 2010 and the nine month period ended December
    31, 2010. 
c.  On October 28, 2011, the Applicant filed its amended and restated annual
    financial statements, the related amended and restated management's
    discussion and analysis and certificates of refiled annual filings for
    the year ended March 31, 2010. 
d.  On November 4, 2011, the Applicant filed its Form 51-101F3 Report of
    Management and Directors on Oil and Gas Disclosure for the years ended
    March 31, 2008 through March 31, 2011. 
e.  On November 10, 2011, the Applicant filed its annual financial
    statements, the related management's discussion and analysis and
    certificates of annual filings for the year ended March 31, 2011. 
f.  On December 22, 2011, the Applicant filed its Form 51-101F1 Statement of
    Reserves Data and Other Oil and Gas Information for the years ended
    March 31, 2008 through March 31, 2011. 
g.  On February 22, 2012, the Applicant filed its amended and restated
    financial statements, related amended and restated management's
    discussion and analysis and certificates of refiled interim filings for
    the interim period ended June 30, 2010; the financial statements,
    related management's discussion and analysis and certificates of interim
    filings for the interim period ended June 30, 2011; and the amended and
    restated annual financial statements, related amended and restated
    management's discussion and analysis and certificates of refiled annual
    filings for the year ended March 31, 2011. 
h.  On April 18, 2012; the Applicant filed its press release and material
    change report dated April 18, 2012; 
i.  On May 9, 2012, the Applicant filed its interim financial statements,
    related management's discussion and analysis and certificates of interim
    filings for the six month period ended September 30, 2011; the interim
    financial statements, related management's discussion and analysis and
    certificates of interim filings for the nine month period ended December
    31, 2011; the amended and restated financial statements, related amended
    and restated management's discussion and analysis and certificates of
    refiled interim filings for the interim period ended September 30, 2010;
    and the amended and restated financial statements, related amended and
    restated management's discussion and analysis and certificates of
    refiled interim filings for the interim period ended December 31, 2010.



The Company has applied for reinstatement to trading on NEX and intends to focus
on completing a reactivation transaction in order to relist the shares of the
Company on the TSX Venture Exchange.
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