BRAINERD -- Grab your fishing rod, the 27th annual Brainerd Jaycees $150,000 Ice Fishing Extravaganza is Saturday.

The event is the largest charitable ice fishing contest in the world. With the recent warm spell, more than 10,000 anglers are expected to come out to the event. Chair Brandon Freihammer says the ice on Gull Lake is completely safe.

"I just came off the lake, it's about 20 inches of ice out there. The one thing I would suggest is we don't have much snow cover, so if you are going out there ice kleats are a must because there's not too much traction out there but that ice is fantastic, it looks great."

More than $200,000 worth of prizes will be given away. Freihammer says new this year is the catch of the day prize give-away.

"We're going to give away a $9,000 prize package to whoever catches the largest of a specific species of fish, if they buy the $5 add on for the contest, Saturday we have announced the tullibee, so whoever catches the largest tullibee, and has purchased a $5 catch of the day sticker, will win a $9,000 prize package."

The event is hosted on Gull Lake, just north of Brainerd.

Over $150,000 of the proceeds will be donated to local charities. The contest began in 1991.