Vancouver, British Columbia, August 16, 2010: Prophecy Resource Corp. (�Prophecy� or the �Company�) (TSX-V:PCY, OTCQX: PRPCF, Frankfurt: 1P2)is pleased to announce that it has  nominated Mr. Paul Venter for appointment to its Board of Directors.

Mr. Venter�s experiences in regional and international coal operations make him uniquely qualified to serve on Prophecy�s Board of Directors.  He is an industry recognized and seasoned professional with over 30 years experience in the mining-, power generating-, and transport industry. In 2006 he extended his focus to expand the business of a major strategic player in the coal and power generating industry in Russia, China and Mongolia. Mr. Venter has been associated with Prophecy since it commenced its Mongolian operations and has contributed to its accelerated path to coal production and in initiating thermal power generating opportunities. Mr. Venter holds a MDP (Mining) and various commercial qualifications, he was accepted as a member of the IRT (SA) in 1983.

Additionally, Mr. Daniel Frederiksen has resigned as Director of the Company to pursue other interests. Prophecy thanks Mr. Frederiksen for his professional commitment and support and wishes him success in the future.

For more information about Prophecy, please contact Paul McKenzie at +1.604.642.2625 ext. 107 or John Lee at +1.800.851.1528.

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 Lynn Lake Nickel Project, a 10% equity stake in Victory Nickel and agreed to merge with Northern Platinum (TSX-V: NTH) on June 15, 2010. 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.