| Press Release |
September 8, 2010
Prophecy Resource Reports 5 Major IP Anomalies and Commencement of Drilling at its Lynn Lake Project, Manitoba
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September 3, 2010
Shareholders of Northern Platinum Approve Merger with Prophecy Resource
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September 2, 2010
Prophecy Secures $10 Million Loan to Advance Ulaan Ovoo Coal Mine, Mongolia
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August 26, 2010
Prophecy provides update on Ulaan Ovoo Mine preparation, Mongolia
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August 20, 2010
Prophecy Appoints Mr. Paul Venter to its Board of Directors
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August 16, 2010
Prophecy Reports Measured 524.3 Mt and Indicated 545.7 Mt Coal Resources at Chandgana Khavtgai, Mongolia (Drill Map Included)
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August 12, 2010
Prophecy Resource to Loan Northern Platinum $50,000
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July 21, 2010
Prophecy Resource Corp. Lists on OTCQX Market in the USA and Xetra in Germany
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July 16, 2010
Prophecy and Northern Platinum Ltd. Sign Definitive Agreement, Northern Shareholder Meeting Set For September 3
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July 7, 2010
Prophecy Detects Strong IP Anomaly At Its Disco Nickel-Copper-Cobalt Deposit, In Lynn Lake, Manitoba (diagrams included)
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Non-Brokered Private Placement to Raise up to $1,000,000 With the MineralFields Group
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December 14, 2009 - Prophecy Resource Corp. (TSX-V: PCY.V) (Frankfurt: 3P1) has agreed with the MineralFields Group (“MineralFields”) to complete a private placement to raise proceeds of up to $1,000,000. It has been agreed the offering will be comprised of up to 2,857,142 flow-through units at a price of $0.35 per unit. The units will be comprised of one flow-through common share and one-half of one non-flow-through warrant, with each whole warrant being exercisable for the purchase of an additional share, at a price of $0.50 per share, for a two year period. If the closing price of the Company’s shares on the TSX Venture Exchange is at least $0.70 for 20 consecutive trading days at any time following four months and a day from the date of closing, the Company may reduce the remaining exercise period of the warrants to not less than 30 days from the date of providing notice of such reduced exercise period (the “Acceleration”).
The Company has agreed to pay a cash commission of 5% of the proceeds raised and a compensation option equal to 8% of the units sold, exercisable into shares at a price of $0.50 per share, for a two year period, subject to the Acceleration.
About Prophecy Resource Corp.
Prophecy has entered into an agreement to acquire the Lynn Lake Nickel Project in Manitoba, which contains a National Instrument 43-101 compliant Measured and Indicated resource of 17 million tonnes with an average grade of 0.62% Nickel and 0.31% Copper at a 0.4% nickel cut-off grade. The Lynn Lake Technical Report, dated December 5, 2007, was prepared by Wardrop Engineering Inc. for Independent Nickel Inc. and is available under Independent Nickel’s filings at www.sedar.com. This agreement is subject to acceptance for filing by the TSX Venture Exchange.
Prophecy has also earned a 60% interest in the Okeover Copper-Molybdenum property in B.C. where, in 2006, Dr. 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 and 0.014% MoS2 at a 0.20% copper cut-off grade. This report is available at www.sedar.com.
For more information about Prophecy, please contact us toll-free at 1-800-459-5583 or visit our web site at www.prophecyresource.com.
About MineralFields Group
MineralFields Group (a division of Pathway Asset Management), based in Toronto, Vancouver, Montreal and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.
ON BEHALF OF THE BOARD OF DIRECTORS
Prophecy Resource Corp.
“JOHN LEE”
John Lee
Chairman
Neither the 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.
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