February 14, 2007 - Prophecy Resource Corp. has completed its Initial Public Offering for gross proceeds of $550,000 and has commenced trading on the TSX Venture Exchange under the symbol "PCY"

The Offering was comprised of 2,200,000 shares of the Company at $0.25 per share. Bolder Investment Partners Ltd. acted as agent for the Offering. As compensation, Bolder received a commission, a corporate finance fee, and was issued 220,000 Broker's Warrants exercisable to purchase a share at the Offering price for a period of one year from closing.

Prophecy is preparing for a new exploration initiative on the OK copper molybdenum property located 20 km of Powell River on the B.C. coast. The OK 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 Ltd. (TSX-V: ETF), 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 OK Property pursuant to NI 43-101 that estimated an inferred mineral resource of 86.8 million tonnes grading 0.31% copper and 0.014% MoS2 at a 0.20% copper cut-off for the North Lake Zone. North Lake is the most understood of the eight zones of mineralization known to exist on the OK property. The company believes there is potential to increase these resources and, with exploration success, to also find higher grade material. The mineral potential at the OK property is enhanced by its proximity to infrastructure and tidewater on the Pacific Ocean.

The most recent exploration program at OK was completed by Prophecy in 2006. This work involved the extension of existing roads, the construction of several drill pads east of holes drilled in 2005 and the establishment of two new geochemistry survey grids, including the northwestern grid area, which was selected following a review of 2004 airborne geophysical data. A total of 499 soil samples were collected, resulting in the discovery of enhanced copper and molybdenum values throughout the Northwest grid area, including some samples with soil geochemical values exceeding 500 ppm molybdenum and 1,000 ppm copper. No significant prior exploration and no drilling has been completed in this area. Prophecy plans to undertake a Phase 1 drill program budgeted at $333,800 in this area in early 2007.

J.W. (Bill) Morton P.Geo, director and qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release. For more information, please visit our web site at www.prophecyresource.com.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the U.S., or to a U.S. person, absent registration or an applicable exemption therefrom.

ON BEHALF OF THE BOARD OF DIRECTORS

"STUART ROGERS"

Stuart Rogers, Chief Financial Officer

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.