Prophecy Resource Corp.
TSX VENTURE : PCY
FRANKFURT : 1P2
OTCQX : PRPCF

Prophecy Resource Corp.

October 04, 2010 14:53 ET

Prophecy Appoints Derek Liu as Chief Financial Officer, September 30 Conference Call Playback Number Available

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2010) - Prophecy Resource Corp. ("Prophecy" or the "Company") (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) is pleased to appoint Mr. Derek Liu to the position of Chief Financial Officer (CFO) to Prophecy Resource Corp. Mr. Liu is an accountant professional with over 15 years of diverse international experiences in financial reporting, auditing, and accounting.

Most recently, he was the controller of Silvercorp Metals Inc., a position he held since 2006.

Mr. Liu is a member of the Certified General Accountants Association of British Columbia and a Certified Public Accountant in the State of Colorado, USA. Mr. Liu earned a Masters Degree in Economics from the University of International Business and Economics in China and has held senior accounting positions in Canadian publicly traded companies for the past several years.

John Lee, CEO of Prophecy states: "Derek's solid professional background including his 5 years with Silvercorp will help manage Prophecy's next phase of growth. Derek will also help liaise with Prophecy's Asian investors, which enables me to spend more time with our North American and European investors."

Mr. Liu will be replacing Mr. Mark Lotz who will be leaving Prophecy to pursue other opportunities. Mr. Lotz will remain during the transition process. Prophecy's Board of Directors wishes to thank Mr. Lotz for his service to the Company.

Mr. Liu will be granted 250,000 options at 54 cents with a 2 year vesting.

Recent Conference Call Playback Available

Separately, the September 30 Prophecy conference call is available for playback at 1-877-653-0545 (access code 387816#), or at www.prophecyresource.com.

About Prophecy Resource

Prophecy Resource Corporation is an internationally diversified company engaged in developing energy, nickel and platinum group metals projects. The Company controls over 1.4 billion tons of open-pittable thermal coal in Mongolia (839 Mt Measured, 579 Mt Indicated). In Canada Prophecy owns Wellgreen PGM Project in Yukon, Lynn Lake Nickel Sulphide Project in Manitoba, and a 10% equity stake in Victory Nickel. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

ON BEHALF OF THE BOARD OF DIRECTORS OF PROPHECY RESOURCE CORP.

John Lee, Chairman

This news release does not constitute an offer to sell or a solicitation to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("the U.S. Securities Act") or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

"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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