Keywords : Copper | Diamond | Molybdenum | Water |

Re: News Releases - Monday, July 28, 2008
Title: Prophecy drills 45.5 metres of 0.33% copper and 0.003% Molybdenum at Okeover, continues to expand the resource at the North Lake Zone

Prophecy Resource Corp. (TSX-V: PCY) has received the final results of a six hole, 1,449 metre Diamond drill program recently completed at the Okeover copper/molybdenum project, located 140 kilometres north of Vancouver on the British Columbia coast.

Highlights of the current program include Hole OK-08-03, which intersected 45.5 metres grading 0.33% copper and 0.003% molybdenum, including 12 metres grading 0.41% copper and 0.001% molybdenum. Hole OK-08-03 was drilled 90 metres to the south of the nearest hole in the current North Lake resource area and creates an open southern edge for future expansion of the resource area in this direction. The North Lake Zone is one of eight known areas of significant copper-molybdenum mineralization on the Okeover project, which is located near the City of Powel River and is a short distance form a deep water Pacific Ocean port.

At Okeover, the objectives of the recent program were achieved and expanded the mineralized area of the North Lake Zone (calculated in 2006 by N.C. Carter, Ph.D., P. Eng to contain 86.8 million tonnes grading 0.31% copper and 0.014% MoS2) a substantial distance to the south. Prophecy plans to incorporate the drill results from this current program and last year's drilling into an updated North Lake resource estimate to be completed later this year.

A summary of the drill results from the 2008 exploration programs are as follows:

Hole	Intercept (m)	From (m)	To (m)	Cu %	Mo %
Ok-08-01 Including	57.0 42.0	113.0 122.0	170.0 164.0	0.30 0.33	0.003 0.003
Ok-08-02 And	26.3 16.5	72.5 107.3	98.8 123.8	0.26 0.33	0.002 0.003
Ok-08-03 Including Including	198.5 45.5 12.0	39.5 39.5 73.0	238.0 85.0 85.0	0.16 0.33 0.41	0.001 0.003 0.001
Ok-08-04	2.2	98.2	98.0	0.21	0.004
Ok-08-05	46.4	2.1	48.5	0.10	0.001

Hole OK-08-06, drilled three kilometres further to the south, returned only anomalous values, with individual three metres sample intervals returning values to 0.28% Cu and 0.029% Mo.

With this drill program now complete, Prophecy has spent over $1,000,000 in exploration at Okeover and satisfied its work commitment to earn a 60% interest from Eastfield Resources Ltd. (TSX.V: ETF).

J.W. (Bill) Morton P.Geo is the qualified person pursuant to National Instrument 43-101 guidelines who takes responsibility for this news release.

About Prophecy Resource Corp.

Prophecy is in the process of earning a 60% interest in the Okeover Copper-Molybdenum in British Columbia from Eastfield Resources Ltd. (TSX.V: ETF). In late 2006, N.C. Carter, PhD, P.Eng. completed a technical report on the Okeover Property pursuant to National Instrument 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 (approximately 593 Million lbs of copper and 15 million lbs of MoS2 ).

For more information about Prophecy, please visit our web site at www.prophecyresource.com or contact us toll-free at (888) 818-8748.

ON BEHALF OF THE BOARD OF DIRECTORS

"JAMES BROWN"

James Brown, President

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

Copyright � 2008 PROPHECY RESOURCE CORP. (PCY) All rights reserved. For more information visit our website at http://www.prophecyresource.com/ or send email to info@prophecyresource.com ..
Message sent on Fri Jul 25, 2008 at 3:36:19 PM Pacific Time

Prophecy Development Corp.

	DEVELOPMENT STAGE
	CODE : PCY.TO

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Prophecy Development is a coal and silver exploration company based in Canada.

Prophecy Development develops coal, silver, copper and nickel in Canada and in Mongolia, and holds various exploration projects in Canada and in Mongolia.

Its main assets in development are LYNN LAKE in Canada and ULAAN OVOOO in Mongolia and its main exploration properties are OKEOVER, WELLGREEN and TITAN ONTARIO in Canada and EMEELT, KHASHAAT, JARGALAN and BAGAMURAT in Mongolia.

Prophecy Development is listed in Canada. Its market capitalisation is CA$ 533 000 as of today (US$ 369 344, € 338 688).

Its stock quote reached its lowest recent point on February 05, 2016 at CA$ 0.01, and its highest recent level on January 06, 2017 at CA$ 7.19.

Prophecy Development has 5 330 000 shares outstanding.

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