No, you can’t lose a match like that.
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If you need to draw a card and you don’t have any in your deck, you will lose one Health Point, and then “Conjure” a card instead, which means you will draw a card from the Prisms your deck uses (respecting the singleton rules).
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However, pay attention: this Health loss can bring your Health total to 0, and then you would lose the match.
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