Prodigy Gold Incorporated (TSX VENTURE:PDG) is pleased to announce initial
results its in-fill and resource expansion drilling program at its 100% owned
Magino mine gold project in Ontario. Highlights include drill MA11-004 which
intercepted 261 metres grading 1.13 gpt gold including 104.6 m grading 2.06 gpt
gold. Gold mineralization in MA11-004 begins at a depth of only 80 metres below
the surface in an area with little previous drilling (please see cross section
and drill hole location map below). Deeper in drill hole MA11-004, a zone of
gold mineralization was cut over 103 metres at a grade of 1.03 gpt gold. This
zone projects up dip into a previously undrilled part of the system, generating
new targets for resource expansion. Similar results were seen in drill holes
MA11-001 and MA11-003 (see table below). MA11-002 intercepted a post-mineral
diabase dyke and was terminated at 186 metres.




                     From           To        Length          Grade
Drill Hole        (metres)     (metres)      (metres)     (gpt gold)
-------------------------------------------------------------------
MA11-001            151.5        205.0          53.5           1.04
                    338.2        402.0          63.8           1.02
                    463.0        486.0          23.0           1.02
MA11-002             none
MA11-003            106.0        244.0         138.0           0.75
 Including:         196.0        231.0          35.0           1.41
                    309.0        330.0          21.0           0.89
MA11-004            122.0        383.0         261.0           1.13
 Including:         134.4        239.0         104.6           2.06
                    600.0        703.0         103.0           1.07
 Including:         600.0        623.0          23.0           2.34



The Magino in-fill drilling program is targeting areas for resource expansion
within the known Magino resource. The results from drill holes MA11-01, -02 and
-03 confirm our ability to grow the resource within the limits of the conceptual
pit shell. As previously reported, the Magino deposit currently contains
Indicated gold resources of 1,924,200 ounces grading 1.16 gpt gold (51.6M
tonnes), and Inferred resources of 587,100 ounces grading 1.04 gpt gold (18.3M
tonnes) (News release dated February 28, 2011). To date, Prodigy has completed
1,836 metres of the planned 20,000 metre drill program. When completed, the
results of the in-fill drilling program will be used to update the Magino gold
resource estimate later this year.


Note: To view "Cross section 300SW, Magino mine project", please click the
following link: http://media3.marketwire.com/docs/pdg0316a.pdf


Cross section 300SW, Magino mine project. Note that gold mineralization in drill
hole MA11-004 begins at shallow depth and implicates a large of volume of rock
for potential gold resource expansion. The deeper intercept in MA11-004,
although below the bottom of the conceptual pit shell (approx. 90m in
elevation), project upwards to drill hole S-97-02 and opens a 200 metre vertical
section for more drilling and exploration.


Note: To view "Drill hole location map, Magino mine project", please click the
following link: http://media3.marketwire.com/docs/pdg0316b.pdf


Effective March 2, 2011, Prodigy Gold Inc. has terminated its option agreement
with CanAlaska Uranium Ltd. covering the McTavish project in northern
Saskatchewan.


About Prodigy Gold: Prodigy Gold Incorporated (TSX VENTURE:PDG) 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 Magino mine
project contains Indicated gold resources of 1,924,200 ounces grading 1.16 gpt
gold (51.6M tonnes), and 587,100 ounces of Inferred gold resources grading 1.04
gpt gold (18.3M tonnes) (please see Prodigy press release dated February 28,
2011). 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: Today's Discovery,
Tomorrow's Future.


The geological information for the Magino project has been reviewed and approved
by Tom Pollock, P.Geo., Prodigy Gold's Vice President - Exploration, who is a
qualified person under the definitions established by National Instrument
43-101. Drill core at Magino is boxed, covered, and sealed at the drill rig and
moved to the Prodigy logging and sample preparation facilities by Prodigy
personnel. The core is then split down the centre using a typical table fed
circular rock saw normally at one metre intervals. One half of the core is sent
for assay to ALS Chemex, 2090 Riverside Dr., Timmins, ON, P4R 0A2, while the
other half is returned to the core box and stored at Prodigy's sampling facility
in a secure, fenced off, area. Prodigy QA/QC procedures include the regular use
of blanks, standards and duplicate samples in addition to sending 10% of the
samples off to a second lab for check assays. Samples assaying greater than 3.0
gpt gold are automatically re-assayed by the metallic screen method. Drill holes
are directed as much as possible perpendicular to the strike and dip of the
mineralization at Magino. As a rough estimate the true thickness of the above
intercepts is approximately 76%.


On behalf of the Board of Directors

Brian J. Maher, President and Chief Executive Officer

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 Company's 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.
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