January 5, 2010 - Prophecy Resource Corp. (TSX.V: PCY) is pleased to announce the appointment of Harald Batista as a Special Advisor to the Chairman.
Mr. Batista is an accomplished entrepreneur with over 2 decades of sales and marketing experience. He holds an MBA degree from Santa Clara University in California and is a member of the prominent Batista family in Brazil that includes Eliezer Batista, the founder of Vale do Rio Doce Company (now Vale Inco) and Eike Batista, the founder of EBX Group. EBX Group focuses on investment opportunities in infrastructure and natural resources, sectors in which Brazil presents important competitive differentials. These investments are focused on MMX (mining), MPX (energy), LLX (logistics), OGX (oil and gas) and OSX (oil services). MMX, OGX, MPX and LLX are listed on Brazil's Novo Mercado - at the Sao Paulo Stock Exchange (BOVESPA). The combined market capitalization of EBX Group companies exceeds US $150 billion.
John Lee, Chairman of Prophecy, states: "Harald brings a wealth of marketing and international networking experience to Prophecy. As the company continues to execute the strategy of acquiring advanced global mineral assets, we look to Harald to help us develop international marketing exposure and potential partnerships with the world's largest natural resource firms."
We are also pleased to advise that Mr. D. Greg Hall, a current advisor to Prophecy, has been appointed director of the Company. Mr. Hall is an independent business advisor to the mining industry. For over 30 years, Mr. Hall has focused on significant international exploration, development, and mining ventures, and all aspects of their structuring and finance. He is a director of Silvercorp Metals Inc (NYSE: SVM, TSX: SVM), China's largest primary silver producer and the lowest cost silver producer among its industry peers.
The Company also wishes to announce the resignation of Mr. James Brown as director. We wish to thank Mr. Brown for his years of service to the Company.
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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
Prophecy Resource Corp.
“Stuart Rogers”
Stuart Rogers
Chief Financial Officer
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.
