VANCOUVER, BRITISH COLUMBIA- 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.
ON BEHALF OF THE BOARD OF DIRECTORS Prophecy Resource Corp.
"JOHN LEE"
John Lee
Chairman
Telephone 1.800.851.1528
Email: john@prophecyresource.com
Mineral resources that are not mineral reserves do not have demonstrated
economic viability. 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.
Prophecy Resource Corp.
John Lee - Chairman and CEO
For further information:
John Lee
Telephone 1.800.851.1528
Email: john@prophecyresource.com
www.prophecyresource.com
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