Prime Meridian Closes Private Placement

October 31 2014, 2014 News Release TSX-V Symbol: PMR

PRIME MERIDIAN CLOSES PRIVATE PLACEMENT

Vancouver, B.C.: Prime Meridian Resources Corp. (“Prime” or the “Company”) (TSX-V Symbol: PMR) announces that the TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced July 17, 2014, August 13, 2014 and September 22, 2014. Under the closing, the Company will issue 8,115,000 units at a price of ten cents ($0.10) per unit for gross proceeds of $811,500. Each unit will consist of one common share and one common share purchase warrant (the "Unit Warrants") with each Unit Warrant entitling the holder to acquire one additional common share at a price of 50 cents ($0.50) per share for one year from closing. The Unit Warrants are subject to the right of the Company to accelerate the exercise period for the Unit Warrants if the common shares of the Company trade above 50 cents ($0.60) for a period of 10 consecutive trading days. The proceeds of the private placement will be allocated toward general working capital purposes and repayment of debt.

There will be a 4 month statutory hold on all securities issued pursuant to this financing, expiring March 1, 2015.

On behalf of the Board of Directors of Prime Meridian Resources Corp.

"Brian Leeners"

Brian Leeners, CEO & Director

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

Prime Meridian Resources Corp.

TEL: 604-893-8384 Email: [email protected]

Neither the 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.