PRIME MERIDIAN GRANTED MINERAL RIGHTS IN WATER HEN PROJECT AREA Seeks Corporate Transaction to Advance Company

Calgary, AB January 22, 2013 - Prime Meridian Resources Corp. (“Prime Meridian”, TSX- V: PMR, Frankfurt: DYD) is pleased to report that it has received confirmation from the United States Bureau of Land Management (“BLM”) that Prime Meridian has been granted a prospecting permit for certain mineral rights in its Water Hen Project area in Minnesota, located in the northeastern part of the state, approximately 20 kilometers southwest of the town of Hoyt Lakes.

Prime Meridian applied for the mineral rights in April 2006 and the prospecting permit application had been pending for six years while the BLM undertook an Environmental Impact Statement (“EIS”) for the Superior National Forest in Minnesota. Prime Meridian now controls mineral interests that cover what it believes are virtually all of the geologically favorable parts of the Water Hen Project. Having acquired these key land parcels, it is now possible to undertake an effective exploration program on the Water Hen Project to identify potential copper-nickel-PGE mineralization. A historical copper and nickel resource as well as a separate titanium resource is contained within the land package controlled by Prime Meridian. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the issuer is not treating the historical estimate as current mineral resources.

Prime Meridian also announces that, in conjunction with its major shareholder, it is seeking a corporate transaction to bring in new management and/or the sale of its property assets. Prime Meridian is a publicly listed company and is open to exploring a variety of possible avenues to achieve these goals.

Water Hen Project Details

The copper-nickel Water Hen Project consists of a combination of federal, state and private mineral rights in the Duluth Complex in Minnesota. From 1957 through 1975, in addition to airborne and ground geophysical surveys, 37 holes were drilled in and near the Water Hen Project by various companies and joint ventures.

The Water Hen Project contains very late orthopyroxenite dikes with anomalous sulphide mineralization. These dikes appear to cross-cut all other lithologies comprising the Water Hen Intrusive Complex. Historical drilling of the basal contact intersected these magmatic sulphide bearing orthopyroxenite dikes that graded up to 4.44% copper, 0.69% nickel, 1.10 grams/tonne of platinum, 1.75 grams/tonne of palladium and 0.38 grams/tonne gold over 0.9 metre.

Prime Meridian believes that the intersection of these dikes with the sulfidic footwall rocks of the Virginia (Slate) Formation presents an excellent target for the discovery of multiple copper-nickel-PGE occurrences on the property which would be significantly higher grade than the existing known resource, given the elevated metal values contained within these orthopyroxenite dikes from the previous drilling results.

Compilation of all available historical exploration data has identified an unexplained gravity anomaly at one of these intersections and this target is represented by coincident magnetic, electromagnetic, gravity and seismic geophysical signatures indicating a probable accumulation of sulfide mineralization.

Table 1- Selected drill intercept results for orthopyroxenite dykes at Water Hen

1Copper was only reported as greater than 1% from historical exploration data from the mid 1950s and 1960s.

In the 1970’s, the New Jersey Zinc Company and Minnesota Ilmenite Ventures calculated an historical sulphide resource at Water Hen of 109 million tonnes grading 0.26 % copper, and 0.12 % nickel and a historical titanium resource of 56 million tonnes grading 14% titanium. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the issuer is not treating the historical estimate as current mineral resources.

Baraga Basin Project

Prime Meridian’s other key asset is the Baraga Basin Project which consists of various leases for the mineral rights in the Upper Peninsula of Michigan. These include drill targets which have geological and geophysical signatures similar to the nearby Eagle Mine currently under construction by Rio Tinto plc. Eagle is a high grade nickel-copper deposit with gold and cobalt credits that will be in production in 2014.

Prime Meridian’s disclosure of a technical or scientific nature in this press release has been reviewed and approved by John F. Gartner, P. Geol., who acts as the qualified person under the definition of National Instrument 43-101.

Prime Meridian Resources Corp.

Mark Fields President and CEO

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

TEL: 403-539-0192 Email: [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.