01.03.11 - 00:27 Uhr
News Release - February 28, 2011
Prodigy Reports Indicated Gold Resources of 1,924,200 Ounces and Inferred Gold Resources of 587,100 Ounces at Magino

Vancouver, British Columbia, February 28, 2011. Prodigy Gold Incorporated is pleased to announce
the release of an updated NI 43-101 compliant mineral resource estimate for its flagship Magino gold
mine project in northern Ontario. The updated mineral resource estimate, reported within a conceptual pit
shell, was completed by Snowden Mining Industry Consultants Inc. (Snowden) of Vancouver, British
Columbia. Using a 0.35 gpt gold cutoff, the Magino deposit contains Indicated gold resources of
1,924,200 ounces grading 1.16 gpt gold (51.6M tonnes), a more than four-fold increase in Measured and
Indicated gold resources over the previous resource estimate that was focused on higher grade
underground mineable zones (InnovExplo Technical Report issued 28 May, 2009). Using the same cut
off grade (0.35 gpt gold), the Magino deposit is also estimated to contain 587,100 ounces of Inferred gold
resources grading 1.04 gpt gold (18.3M tonnes). A complete Technical Report will be filed on SEDAR
within 45 days. The resource estimate is set out in the table below and reported at a series of cut off

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About Prodigy Gold: Prodigy Gold Incorporated (PDG: TSX.V) was created by unifying the assets of two Canadian Junior exploration companies: Kodiak Exploration Limited and Golden Goose Resources Inc. Prodigy is currently evaluating the Magino mine project in Ontario as an open-pit mining opportunity with the potential for deeper, higher grade gold production The company is producing a Preliminary Economic Analysis (PEA), establishing the economic parameters of an open pit mining operation at Magino. The PEA is expected to lead to a full feasibility study, projected for early 2012. Bringing the Magino Mine project through the feasibility process and towards production, coupled with the exploration potential of our Beardmore-Geraldton exploration properties, are the catalysts to growing Prodigy Gold, building substantial value for Prodigy shareholders: Todays Discovery, Tomorrows Future.

All scientific and technical information in this news release, except for the section titled "Mineral Resource Estimate", has been reviewed and approved by Tom Pollock, P. Geo., Prodigy Golds Vice President of Exploration, who is a qualified person under the definitions established by National Instrument 43-101. Prodigy Gold QA/QC procedures are as follows: Prodigy Gold drill cores are split down the center with a typical table feed circular rock saw or are split with a hydraulic slitting device. Sample intervals are selected according to geologic contacts, visible mineralization, and alteration, placed into sample bags and shipped to the assay lab where they are quantitatively analyzed for select elements. Drill cores are boxed, covered, and sealed at the drill rig and moved to the Prodigy Gold logging and sample preparation facilities by Prodigy Gold personnel. Prodigy Gold angle core holes are directed perpendicular to the mapped dip of the vein therefore reported drill hole intercepts approximate true thickness of the vein. All Prodigy Gold samples are currently being assayed by Chemex ALS, 2090 Riverside Dr, Timmins, ON P4R 0A2. Blank and standard samples are routinely submitted with all sample batches sent to the lab for assay. Samples are routinely sent to other labs for additional checks.

On behalf of the Board of Directors

Brian J. Maher
President and Chief Executive Officer

Prodigy Gold Incorporated
tel.: 1-604-688-9006 Fax: 1-604-688-9029

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the Magino mine property and other future plans, objectives or expectations of Prodigy Gold Incorporated (the "Company") are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Companys plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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