- Prosperity has made three substantial gold discoveries at its Kiyuk project in Nunavut, Canada from drilling last summer, including zones with high gold values. - The company's spring drilling program intends to further test the extent of these discoveries, with the goal of outlining a resource. There is also potential to make additional discoveries at Kiyuk and its other Yukon project. - Much depends on drill results from the spring program and the larger summer program. Given prior results and the geological setting, the Kiyuk project has potential for a large-scale deposit.

1. Prosperity Goldfields
(PPG-TSX.V)
The following editorial is extracted from the April 2012-2 Issue
Prosperity has completed the merger with included 32 meters of 1.9 g/t. The Gold Point
Smash Minerals. The combined company has zone produced several intervals with highly en-
an exceptional geological team, $5 million of couraging gold values, including 63 meters of
cash and two important gold exploration 2.8 g/t and 5.4 meters of 10.6 g/t. All three of
projects in northern Canada. those zones represent important new discover-
ies spanning a 10 kilometer trend. Other gold
Prosperity is now drilling on its Kiyuk project occurrences and target zones outline a substan-
in southern Nunavut, just 50 kilometers from tial district-scale project that extends well be-
the Manitoba border. A 3000 meter drilling yond the area so far drilled.
program that is now underway is intended to
provide further information in support of a lar- It is very significant that the company is con-
ger summer drilling program. Drilling last ducting this spring drilling program. They mo-
summer encountered gold values in three sepa- bilized equipment and supplies in to the site
rate zones. Each of those gold zones is being while the ground was frozen, allowing them to
further tested. In addition, further targets, iden- drill well into the spring.
tified through surface sampling and airborne
magnetic surveys, will also be tested. The information from this drilling will be
extremely useful in planning the larger summer
Those targets have multi-gram gold values at program. The geological team will have assays
surface and magnetic patterns similar to the and other information from the drilling to add
zones which yielded favorable drill results. to the previous information in order to more
effectively lay out the larger program. The
Last summer’s drilling produced some impres- summer program will be aggressive, and aimed
sive intercepts. The grades and the lengths of at carefully selected targets. That program is
the intervals were especially impressive expected to outline a resource this year.
considering that drilling was the first tests of
three new targets. The Rusty zone yielded 157 Prosperity will gain as much information from
meters starting at surface that averaged 1.9 the spring drill program as many companies
grams per tonne (based on metallic screen
assays). The values from the Cobalt zone (Continued on page 2)
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2. would achieve in an entire summer season. In largely on systematic surface sampling. That
essence, the company has accelerated the pro- approach led to the Underworld discovery that
gram by a year. touched off the modern Yukon gold rush.
Adrian Fleming, Prosperity’s president, headed
In view of the geological setting and the results the exploration program that made the Under-
produced by Prosperity, it is evident that the world discovery.
Kiyuk project has large-scale potential. TheExtracted from the Issue
area has seen considerable exploration over the In summary, Prosperity has already made three
past 8 years, including mapping, surface substantial gold discoveries at its Kiyuk
sampling and both ground and airborne geo- project. This year’s program will test the extent
physical surveys. Numerous gold occurrences of those discoveries, with the potential to out-
at surface were reported. In spite of those line a resource. There is also the potential to
favorable results, last year’s drilling was the make additional discoveries at both Kiyuk and
first time the gold values at surface were traced the Yukon project.
to depth.
Much depends on the drill results, over the next
The geological setting is permissive of large few weeks and then coming from the summer
deposits, with regional scale structural features program. In view of the results achieved to date
and alteration spanning tens of kilometers. The and the geological setting of Kiyuk, I view this
evidence to date suggests an iron-oxide-copper as one of the most attractive exploration com-
-gold (IOCG) geological model. Several very panies around.
large deposits are hosted in IOCG settings.
Price April 25, 2012: C$0.54
Assays from the spring program are expected Shares Outstanding: 58 million
over the next few weeks. Further results in line Shares Fully Diluted: 78 million
with the results from last year would have a big Market Cap: C$ 31 million
impact on the value of the company, even in Contact: Investor Relations
this unfavorable market. 604-662-3380
www.prosperitygoldfields.com
Prosperity also plans further work on the Last updated April 2012-1
Whiskey property in the White Gold District of
Yukon that was drilled last summer by Smash.
While that drilling didn’t turn up favorable
results, the geological team plans to test other
targets on the extensive property. Smash has
completed several seasons of work, focused
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3. Extracted from the Issue
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