Drilling on Wellgreen PGE-Ni-Cu Project Commencing January 2012

- January 3rd, 2012

Commencement of drilling on its Wellgreen PGE-Ni-Cu project starting the third week of January, 2012, was announced by Prophecy Platinum Corp. (TSXV:NKL,OTCQX:PNIKF,FWB:P94P). Underground drilling of approximately 9,000 meters have been planned, targeting the infill areas of the existing Wellgreen inferred resource, and potential expansion of the resource southward to fill the pit area currently being designed in the Company’s Preliminary Economic Assessment (PEA) due for completion in Q1 of 2012.

Commencement of drilling on its Wellgreen PGE-Ni-Cu project starting the third week of January, 2012, was announced by Prophecy Platinum Corp. (TSXV:NKL,OTCQX:PNIKF,FWB:P94P). Underground drilling of approximately 9,000 meters have been planned, targeting the infill areas of the existing Wellgreen inferred resource, and potential expansion of the resource southward to fill the pit area currently being designed in the Company’s Preliminary Economic Assessment (PEA) due for completion in Q1 of 2012.

Underground rehabilitation and development started in November and will be ongoing throughout 2012. Drill permits have been obtained and crews have been mobilized to prepare drill stations, where drilling is to be conducted from the historic workings on the Wellgreen property which are accessible by an adit into the 4250 level. The Company expects underground drilling to continue year round covering the 1 km strike Wellgreen East Zone.

Separately, the company has also signed a contract for a minimum 10,000 meters of surface drilling starting in the spring of 2012.

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