Prime Meridian Resources Elects New CFO

For Immediate Release

PRIME MERIDIAN RESOURCES ELECTS NEW CFO

Calgary, AB March 16, 2011 Prime Meridian Resources Corp (TSX-V, PMR: FRA, DYD) (PMR) is pleased to announce that it has elected a new Chief Financial Officer. Mr. Milton (Milt) R. Porter joined PMR in the role of CFO effective 11 March, 2011. Mr. Rob Cowper, PMR’s former CFO has stepped down. PMR looks forward to Mr. Porter’s contributions to the success of the Company.

About Prime Meridian Resources Corp.

PMR recently announced a joint venture of its Winterfire Nickel-Copper project with Wolfden Resources Corp. Wolfden is a new private company revived by the original founders of Wolfden Resources Inc., the predecessor company to Premier Gold Mines Inc. This JV in the state of Minnesota reflects PMR’s strategy of identifying option/joint venture parties for its projects. The Corporation remains committed to exploring and developing its assets and to continuing its Cu-Ni-PGE project development primarily focusing on the Midcontinent Rift System. Prime Meridian Resources Corp. is a Canadian junior exploration company based in Calgary, Alberta. With a portfolio of projects located in the Midcontinent Rift System of Michigan and Minnesota, Prime Meridian is recognized as a specialist within this historic area that is known to have large and valuable base metal deposits. Our focus is on advancing projects to the drill ready stage and beyond while increasing shareholder value.

Prime Meridian Resources Corp

John Boreta President

For further information, please refer to our website www.primemeridianres.com or contact:

Prime Meridian Resources Corp.

John Boreta Tel: (403) 539-0192 [email protected]

Certain disclosures in this release, including management’s assessment of Prime Meridian’s plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Prime Meridian’s operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Prime Meridian 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.

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.