PPG

Prosperity Goldfields Corp. (TSX VENTURE:PPG) ("Prosperity Goldfields" or the
"Company") is pleased to provide an update on its 100% controlled Kiyuk Gold
Project in Nunavut. 


Spring Drilling Program

On March 21st, 2012, Prosperity Goldfields commenced a Spring 2012 program of
diamond core drilling at the Kiyuk Lake Project. The drill is currently
positioned over the "Rusty" showing targeting the down-dip extension of gold
mineralization previously identified during the Company's Summer 2011 drill
program where hole RU11-001 returned an average gold grade of 1.7 g/t Au from
the collar to the end of the hole at 157.6m, including 3.27 g/t Au over 52.4m
starting at the surface (see news release dated September 15th, 2011).


A total of 3,000 metres is planned for the Spring Program scheduled to be
completed in May 2012. The objectives of this Spring Program are to follow-up on
encouraging results from the Summer 2011 drill program that included the
following from the Rusty, Gold Point and Cobalt showings:




----------------------------------------------------------------------------
Target                           Hole     From (m)   Length (m)   Gold (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Rusty                        RU11-001          0.0        157.6         1.70
----------------------------------------------------------------------------
                            including          0.0         52.4         3.30
----------------------------------------------------------------------------
Gold Point                   GP11-003        148.6         63.6         2.84
----------------------------------------------------------------------------
                            including        148.6         38.6         4.15
----------------------------------------------------------------------------
Cobalt                       CS11-002         52.4         32.1         1.82
----------------------------------------------------------------------------
                            including         64.1         17.3         2.41
----------------------------------------------------------------------------



www.prosperitygoldfields.com

The Spring drill program will also test additional, as yet undrilled targets
that display encouraging geochemical, geophysical and alteration
characteristics.


"We are delighted to report that we have received our first core from the Spring
drill program with the first shipment of core sample to be sent out Tuesday,
March 27, 2012. The results from the Spring program will be used to further
refine a Summer 2012 work program which will include soil geochemistry,
geophysics, geologic mapping and additional diamond drilling. We expect to start
the Summer program in June 2012" comments R. Bruce Duncan, CEO of Prosperity
Goldfields. "With the significant support from the Prosperity Goldfields
shareholders for the amalgamation with Smash Minerals coupled with the extensive
exploration programs planned for this Spring and Summer at Kiyuk, this should be
an exciting and rewarding year for the shareholders." 


About the Kiyuk Gold Project

Gold at Kiyuk is hosted by a sequence of conglomerates and breccias occurring
along an unconformity between two thick sedimentary units, the Hurwitz
Supergroup and overlying Kiyuk Group. The Kiyuk sub-basin in which numerous gold
showings occur, measures roughly 60 km NE-SW and 35 km NW-SE. Gold
mineralization is associated with intense magnetite and albite replacement and
displays variable geochemical associations with cobalt, nickel, arsenic and
uranium. Gold Mineralization at Kiyuk is unusual, both in terms of host-rocks
and style of alteration that is dominated by sodic minerals. Although Kiyuk
shares some similarities with iron oxide copper-gold deposits, little to no
copper has been observed in the system at Kiyuk. The objective of exploration at
Kiyuk is to discover multiple deposits of near-surface, bulk mineable gold
mineralization. Other bulk mineable gold deposits in Nunavut include Agnico
Eagle's Meadowbank mine where gold is produced from open pit deposits with
proven and probable reserves of approximately 34 million metric tonnes grading
3.18 grams per tonne gold (source: Agnico Eagle website).


About Prosperity Goldfields Corp.

Prosperity's principal asset is the mineral claims comprising the "Kiyuk
Property" near Nueltin Lake in Nunavut over which Prosperity has the option to
acquire a 100% interest.


In compliance with National Instrument 43-101, Dr. Robert W. Barker, P.Geo
#6037, AIPG is the Qualified Person responsible for the accuracy of this news
release.


On Behalf of the Board of Directors

PROSPERITY GOLDFIELDS CORP.

R. Bruce Duncan, 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 expectations of
exploration results from drilling at the Company's Kiyuk property are subject to
all of the risks and uncertainties normally incident with undertaking mineral
exploration, including but not limited to: technical, operational and
environmental risks associated with gold exploration and core drilling and
cannot be relied upon until final independent assay results are obtained from
samples taken from drilling. Statements regarding the Company's expectations to
complete its amalgamation with Smash Minerals Corp. are also subject to a number
of assumptions, risks and uncertainties, including but not limited to the
receipt of regulatory and shareholder 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.

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