Prodigy Announces Notice of Exercise of Over-Allotment Option by Underwriters


Vancouver, British Columbia CANADA, March 13, 2012 /FSC/ - Prodigy Gold Inc. (PDG - TSX Venture, KX3 - FWB), ("Prodigy" or the "Company") announced that, further to its news release dated March 5, 2012, the syndicate of underwriters led by Casimir Capital Ltd. and Paradigm Capital Inc., and including National Bank Financial Inc., Byron Capital Markets Ltd. and PI Financial Corp. (the "Underwriters") has given notice of exercise of the over-allotment option (the "Option") in part, to purchase an additional 1,250,000 common shares of the Company ("Common Shares") at a price of $0.80 per share for gross proceeds of $1,000,000. The Option was granted to the Underwriters in order to cover over-allotments and for market stabilization purposes in connection with Prodigy's public offering of 37,500,000 Common Shares and 13,158,000 flow-through Common Shares completed on March 5, 2012. The issuance of Common Shares pursuant to the exercise of the Option is expected to occur on March 16, 2012.

This news release does not constitute an offer to sell, or the solicitation of an offer to buy, Common Shares in any jurisdiction, including the United States, or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption therefrom, nor shall there be any sale of Common Shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The Common Shares being issued will not be, and have not been, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, a U.S. person, absent U.S. registration or an applicable exemption therefrom.

On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Prodigy Gold Incorporated
Email: ir@prodigygold.com
Website: www.prodigygold.com
tel.: 1-604-688-9006 Fax: 1-604-688-9029