Expects New COO Early November
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2012) -
Prophecy Platinum Corp. ("Prophecy" or the "Company")
(TSX VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) is pleased to announce it has entered into a contract with EBA Engineering Consultants Ltd. ("EBA"), a Tetra Tech Company from Whitehorse to initiate environmental baseline studies this fall on the Company's 100% owned Wellgreen PGM-Ni-Cu Project, located in the southwestern part of Yukon, Canada.
Engaging EBA is another milestone in moving the Wellgreen project forward. The present scope of baseline work to be carried out by EBA includes collection of meteorological data, surface water flows, surface water quality and analysis of recent wildlife studies.
Yukon Environmental and Socio-economic Assessment Board (YESAB) requires approximately two years of baseline data as part of the overall quartz mining permit application, which Prophecy targets to submit by 2015.
Prophecy announces that it expects a new Chief Operating Officer to start in early November, 2012. The Company has also recruited Matthew Emery as an investor relations manager. Mr. Emery has been in the communications and investor relations field for the past 12 years and will assist in the following areas: investor communications promoting full and fair disclosure by the Company; dissemination of Company news and information; and creation and implementation of an investor relations program that provides investors and interested parties with Company information. Mr. Emery has been granted 40,000 stock options to purchase shares at a price of $1.65 per Common Share. The options will have a term of five years with a 2-year vesting.
Lastly, the Company also announces the termination of its option agreement with Marifil Mines Ltd. on the Las Aquilas property in Argentina.
About EBA Engineering Consultants
EBA, a Tetra Tech Company, has progressively expanded since its inception in 1966 and, today, clients are served by more than 650 engineers, scientists, technologists, and support staff from offices predominantly across western and northern Canada. EBA has undertaken similar environmental baseline studies in the Yukon, including for the Ketza River Mine, Selous Project, and Mactung Project.
About Prophecy Platinum
Prophecy Platinum Corp. is a Canadian based nickel PGM exploration company with projects in Canada. Prophecy Platinum's flagship Wellgreen PGM-Cu-Ni project is located in Yukon Territory, Canada. Prophecy's Shakespeare PGM-Cu-Ni project (fully permitted) is located in Ontario, and its Lynn Lake project is located in Manitoba, Canada. Further information can be found at >www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT: Chris Ackerman
Prophecy Platinum Corp.
Senior Manager, Investor Relations
1-800-459-5583
cackerman@prophecyplat.com
http://www.prophecyplat.com/">www.prophecyplat.com
