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 Prophecy Resource Corp. is focused on the exploration of the Okeover copper molybdenum property located 20 km north of Powell River on the B.C. coast. The Okeover property encompasses 3,900 hectares (15 square miles) of mineral claims centered on the Bunster Hills, east of Okeover Inlet. These claims are held by Eastfield Resources with whom Prophecy has an option to earn a 60% interest. In late 2006, N.C. Carter, PhD, P.Eng, completed a technical report on the Okeover Property pursuant to NI 43-101 that estimated an inferred mineral resource of 86.8 million tonnes grading 0.31% copper (approximately 593 million lbs) and 0.014% MoS2 (approximately 15.9 million lbs of molybdenum) at a 0.20% copper cut-off for the North Lake Zone. North Lake is the best understood of the eight zones of mineralization known to exist on the OK property. In late December 2007 the Company completed a three hole drill program on the South Breccia Zone, 3.5 kilometres south of North Lake, with assay results pending. Drilling completed at North Lake in early 2007 intersected extensive intervals of mineralization well beyond the limits of the prior resource calculation. These four holes confirmed that mineralization in the North Lake Zone has not been constrained by depth and remains open on the eastern and western edges, offering substantial opportunities for expansion of the resource. In addition, molybdenum grades appear to be increasing to the east. The company believes there is potential to increase these resources and, with exploration success, to also find higher grade material. The mineral potential of the OK property is further enhanced by its proximity to infrastructure and tidewater on the Pacific Ocean.
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