Prophecy Resource Corp.

Prophecy Resource Corp.

December 08, 2010 08:30 ET

Prophecy Appoints Michael J Deats as Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 8, 2010) - Prophecy Resource Corp. ("Prophecy" or the "Company") (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) is pleased to announce the appointment of Michael J Deats as an independent director of the Company.

Michael J Deats, a Wits University graduate mining engineer spent most of his productive working life at Iscor South Africa, ultimately being responsible for their vast mining operations. These included the world class Sishen Iron Ore export mine and Grootegeluk coal mine which he developed from inception to eventually feed a 3600MW coal fired power station. During his career at Iscor he also personally introduced fully mechanised longwall coal mining at Durban Navigation Colliery.

Mike's directorships ranged from being a director of BP Southern Africa, Managing Director of BP Coal Southern Africa as well as numerous coal related companies including The Richards Bay Coal Terminal Company/ The Transvaal Coal Owners Association. During this period he was responsible for establishing BP Coal's opencast flagship colliery Middelburg Mine and marketing its product all over the world (over 5.5 million tons per annum).

During his tenure at Eskom. Mike served with distinction becoming Executive of the Year in 1992, was promoted to Senior General Manager and his portfolio, encompassing acquisition of primary energy (well over 120 million tons per annum), was enlarged to include engineering and project services. During his last two years at Eskom, he was responsible for the direction of the entire Generation Division viz all coal-fired power stations/hydro-stations and the nuclear power station together with all their support services. The premature closure of Majuba colliery was a "highlight" of his career at Eskom, as the colliery was too optimistically designed in the light of the prevalence of dolerite dykes intersected by opening-up development.

Although retired from Eskom, Mike is still actively consulting in the nuclear field/mining engineering area and governmental regulatory work and is an elected trustee with BP Southern Africa Pension Fund and the Arcelor-Mittal Pension Fund.

The Company also wishes to announce the retirement of G. Arnold Armstrong, Co-Chairman and director of Prophecy. Mr. Armstrong founded Red Hill Energy Inc. in the late 70s and led the Company until its merger this year with Prophecy Resource Corp. Prophecy would like to thank Mr. Armstrong for his long standing service.

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). Prophecy's Ulaan Ovoo coal mine is fully commissioned and in production. 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.


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."

Contact Information