Parlane Resource Corp. (TSX VENTURE:PPP) (the "Company") is pleased to announce
that it will be commencing a Phase I surface exploration program at its Big Bear
Project. 


The Big Bear property is located in the Omineca Mining Division, Nechako Plateau
in central British Columbia, approximately 100 kilometres south of Vanderhoof
and covers 14,366 ha. It is located between two mineralized systems: the
Blackwater property explored by Richfield Ventures Corp. and Silver Quest
Resources' Capoose. The Big Bear is highly prospective for the discovery of
similar high-level epithermal, subvolcanic intrusive porphyry and transitional
mineralization.


Capoose's 2011 updated resource estimate at a gold equivalent ("AuEq") cut-off
grade of 0.40 grams per tonne ("g/t") is 31.22 million tonnes grading 0.38 g/t
gold and 26.5 g/t silver for 383,823 contained ounces of gold and 26,593,915
contained ounces of silver in an Indicated category and 37.23 million tonnes
grading 0.37 g/t gold and 24.6 g/t silver for 443,206 contained ounces of gold
and 29,517,933 contained ounces of silver in an Inferred category (Silver Quest
Resources, January 20, 2011 new release).


Blackwater's estimated global indicated resource, at a base case cut-off grade
of 0.40 g/t Au, is 53.46 million tonnes at an average grade of 1.06 g/t Au
containing 1.83 million ounces gold, with an additional 75.45 million tonnes at
an average grade of 0.96 g/t Au containing 2.34 million ounces gold in the
Inferred category (Richfield Ventures Corp., November 22, 2010 news release).


Big Bear field crews will commence an integrated, comprehensive field
exploration program including property scale geological mapping, extensive silt
sampling on all drainages and soil and rock sampling throughout following
subsidence of high water conditions. Complimenting the on-the-ground emphasis is
an airborne EM survey that is designed to further define future drill targets
for Phase II of the exploration program. An extensive logging road network and
recent beetle-kill harvesting provides excellent access to the Big Bear project
area. 


Ian Webster, P.Geo., is the Qualified Person as defined by National Instrument
43-101 who has reviewed and approved the contents of this release.


ON BEHALF OF THE BOARD

Robert Eadie, President, Chief Executive Officer and Director
Prospector Metals (TSXV:PPP)
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