SSH Smash Minerals Corp

Smash Minerals Corp. ("Smash") (TSX VENTURE:SSH) and Prosperity Goldfields Corp.
("Prosperity") (TSX VENTURE:PPG) are pleased to announce a proposed business
combination (the "Transaction") to be effected by way of the amalgamation of
both companies (the "Amalgamation"). The parties to the Transaction act at arm's
length.


Assuming completion of the Transaction the amalgamated entity will own rights to
100% of the interests in two prospective resource projects in Nunavut and the
Yukon encompassing 1,276 km2 with approximately C$8M in working capital to
execute 2012 drill programs on both projects with an experienced and successful
technical and management team with relevant experience in both project areas.


Business Combination

Pursuant to a letter of intent ("Letter Agreement") dated January 4, 2012, Smash
and Prosperity have agreed, subject to certain standard conditions, to
amalgamate to form a new company ("Amalco"), to be known as Prosperity
Goldfields Corp. The Amalgamation will be completed on the basis of one (1)
common share of Prosperity for each one (1) common share of Amalco and one
decimal six (1.6) common shares of Smash for each one (1) common share of
Amalco. All warrants and options of Prosperity and Smash outstanding on the
closing date of the Transaction will be converted into warrants and options of
Amalco on the same ratios.


The proposed Board and Management of Amalco will be:

Adrian Fleming, CEO & Director, is an Australian geologist with 35 years
diversified experience in the mining industry, including exploration, project
development and operations. Exploration continues to be his passion. He has been
a member of teams that made gold discoveries at Porgera, PNG; Big Bell, W.A.;
Gross Rosebel, Suriname; Hope Bay, Nunavut and most recently White Gold, Yukon,
Canada with Underworld Resources. He is currently a Director of Goldminex
Resources and several other Canadian listed Companies.


Darryl Cardey, Chairman & Director, is a venture capital financier and Chartered
Accountant. He was a co-founder and Director of Underworld Resources with
extensive corporate finance contacts both in North America and Europe.


Steve Swaffield, Independent Director, is the principal of CarbEx Consulting
Inc. He has over 25 years of experience in senior financial advisory and
operational roles and as an investment banker formerly with Canaccord Capital
Corp. He holds a BA and MA in Engineering Science and an MBA.


R. Bruce Duncan, Independent Director, Mr. Duncan is the President of West Oak
Capital Partners Inc., which provides strategic advisory services, including
identifying and qualifying merger and acquisition candidates, advising on
corporate takeovers and advising in public transactions. Mr. Duncan's client
base has included financial services, aviation, mining, oil and gas, logistics,
and retail industries. Mr. Duncan currently sits on the boards of several
private and public companies and is the President and CEO of Bolero Resources
Corp. and a Director of Evolving Gold Corp.


Dr. Quinton Hennigh, Independent Director, is an economic geologist with more
than 20 years of exploration experience. Over the past five years, Dr. Hennigh
has helped drive successful exploration at junior mining companies including
Evolving Gold Corp., Gold Canyon Resources and Prosperity Goldfields where he is
Chief Geologist. Prior to joining the junior mining sector, he was an
Exploration Geologist with Newmont Mining, during which time he worked on
projects in North America, Europe, Australia, Asia and South America. He earned
a M.Sc. and a Ph.D. in geology and geochemistry from the Colorado School of
Mines in 1993 and 1996, respectively.


Adam Kniec, CFO, is a Canadian Chartered Account with over 15 years' experience
as auditor to and CFO for a number of public and private companies primarily in
the resource sectors.


In connection with the Transaction, if approved and completed, aggregate
finders' fees of 200,000 Amalco common shares and US$50,000 will be paid at
closing.


Upon completion of the Transaction, the combined company (Amalco) will have
approximately 58,557,466 issued and outstanding common shares and, Prosperity
and Smash will own approximately 74% and 26% of the combined company,
respectively. The terms of the Transaction have been unanimously approved by the
boards of directors of both Prosperity and Smash and will be described in a
Joint Management Information Circular of Prosperity and Smash to be filed with
regulatory authorities and mailed to Prosperity and Smash shareholders in
accordance with applicable securities laws.


All of the officers and directors of both Prosperity and Smash have agreed to
enter into lock-up and support agreements with each other under which they have
agreed to vote in favour of the Transaction. In addition, both Prosperity and
Smash have agreed to use their best efforts to obtain support for the
Transaction by obtaining additional lock-up agreements from certain shareholders
that own up to 50% of the common shares of Prosperity and Smash. In addition,
the Letter Agreement includes a commitment by both Prosperity and Smash not to
solicit alternative transactions to the proposed Transaction and the parties
have agreed to pay the other party a break fee of $500,000 in certain
circumstances.


The closing of the Transaction is scheduled to completed on or before April 13,
2012 and is subject to the usual conditions precedent in this type of
transaction, including the entering into of a definitive business combination
agreement, receipt of shareholder and regulatory approval and the completion of
due diligence by both companies. In respect to shareholder approvals, it is
anticipated that each of Smash and Prosperity will hold special meetings of its
shareholders on or before March 30, 2012. It is further contemplated that a
definitive business combination agreement will be entered into by the parties on
or before January 27, 2012.


Prosperity Goldfields President & CEO, R. Bruce Duncan stated, "The proposed
business combination of Prosperity and Smash represents a major positive
development for the shareholders of both companies. It will greatly strengthen
the treasury of the combined company and will thereby support an aggressive
exploration and drilling program at Kiyuk, where strong drill results have only
begun to test numerous well-defined targets occurring along a 24 km strike
length of gold-bearing strata in the Kiyuk Basin. Mr. Duncan further stated,
"The transaction, if completed, will bring together a strong exploration team
from Smash with significant exploration experience in northern Canada which,
together with the continued geological input from Dr. Quinton Hennigh and a
combined expertise in permitting, should enable the combined company to take the
exploration and drilling at Kiyuk to the next level of discovery."


"The proposed business combination of Smash and Prosperity will bring enhanced
value to Smash shareholders by broadening our exposure with a second gold
exploration play that has already returned solid drill results," stated Adrian
Fleming, President of Smash Minerals. "I also look forward to the technical
input of Quinton Hennigh, a geologist with an enviable track record of
discoveries."


Prosperity Goldfield's 100% owned Kiyuk Lake gold property in southern Nunavut
is located 100km northeast of the four corners of Saskatchewan, NWT, Manitoba
and Nunavut. The property consists of 50 claims covering an area of 430 km2.
Gold showings were first recognized in 1992. Newmont explored and drilled the
property from 2006 to 2008 but the drilling was not successful. Quinton Hennigh
brought the property to Evolving Gold Corp. in 2009 and it was subsequently
vended to Prosperity and listed in February 2011. Prosperity's first drilling
program in 2011 included 14 holes for a total of 2600 m's, which returned
encouraging results from three separate targets. At the Rusty Target hole 1
returned 157.6m at 1.7g/t Au from the surface including 30.5m at 4.9g/t Au from
5.2m. At the Gold Point Target hole 3 returned 63.6m at 2.84g/t Au from 148.6m.
Additional aggressive exploration and drilling is planned to commence in March
2012.


Smash's Whiskey Project, located in Yukon's White Gold District, encompasses 846
km2 including the placer gold rich Black Hills and Barker Creeks. Smash executed
an extensive multi-phase, multi-disciplinary exploration program from May to
October 2011. Work conducted on the Whiskey Property included: property-scale
geological mapping and structural studies; prospect and local-scale mapping and
prospecting; collection of 1,819 grab rock samples; collection of 19,511 soil
samples including ridge-and-spur and grid soil samples; on-site XRF analysis of
all grid soil samples collected; a two-phase stream sediment sampling program
focusing on all catchment areas within the Whiskey Property to a maximum of 20
km2; airborne magnetic and radiometric geophysical survey covering the entire
property; mechanized trenching covering 2,500 line-metres over 83 trenches and
collection of 1,295 channel samples, including trench reclamation; and a diamond
drill program consisting of eight holes totalling 1,665.9 metres. The 2011
exploration program has confirmed the presence of gold and silver mineralization
in bedrock on the Property.


Smash anticipates a 2012 program of drill testing high priority targets located
within an interpreted structurally controlled hydrothermal system centered in
the north eastern portion of the Whiskey Property. Mid-summer season diamond
drilling should commence at the Highland Park, Stranahan's and Tullamore Dew
targets once sufficient surface trenching and detailed geological mapping have
been completed to allow for drill targeting.


Adrian Fleming and Quinton Hennigh are Qualified Persons who have reviewed the
technical content of this press release for Smash and Prosperity respectively.


About Prosperity

Prosperity's principal business is the acquisition, exploration and development
of resource properties for the mining of precious metals. Prosperity acquired
the option to purchase the mineral claims comprising the "Kiyuk Property" near
Nueltin Lake in Nunavut. Prosperity's principal objective is to explore the
Kiyuk Property.


About Smash

Smash Minerals principal business is the acquisition, exploration and
development of gold projects principally located in Canada. Smash owns an option
to purchase a 100% interest in the Whiskey Project within the gold rich White
Gold District, Yukon Territories, Canada.


ON BEHALF OF THE BOARD OF SMASH MINERALS CORP.

Adrian W. Fleming, CEO

ON BEHALF OF THE BOARD OF PROSPERITY GOLDFIELDS CORP.

R. Bruce Duncan, President and CEO

This press release includes "forward-looking statements" including forecasts,
estimates, expectations and objectives for future operations that are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the
control of Smash Minerals Corp. and Prosperity Goldfields Ltd. Statements
regarding mineral exploration operations and objectives are subject to risk,
including, but are not limited to, exploration and geologic risk, inflation and
costs of goods and services, property title issues and regulatory approvals.
Investors are cautioned that any such statements are not guarantees of future
performance and that actual results or developments may differ materially from
those projected in the forward-looking statements. Such forward-looking
information represents management's best judgment based on information currently
available. No forward-looking statement can be guaranteed and actual future
results may vary materially. There is no assurance that the amalgamation between
the companies will occur on the terms proposed, or at all. Neither Smash
Minerals Corp. or Prosperity Goldfields Corp. assumes the obligation to update
any forward-looking statement, except as required by applicable law.

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