Successful Preliminary Metalurgical Test Results From Prophecy Platinum Wellgreen Project

Prophecy Platinum Corp. (TSXV:NKL,OTCQX:PNIKF,FWB:P94P) announce the results of its preliminary metallurgical tests for its Wellgreen Ni-Cu-PGE project, located in the southwest of Canada’s Yukon Territory. Highlights include successful metallurgical recovery results of up to 88% copper and 73% nickel.

This first phase of an extensive metallurgical program focuses on producing a bulk Ni-Cu-PGE-Au concentrate from disseminated sulphide, ultramafic mineralized rocks that comprise the majority of Wellgreen’s National Instrument 43-101 resource.

To date, a total of 41 rougher and cleaner tests, and 4 locked cycle flotation tests have been conducted and completed at SGS Laboratories in Vancouver, British Columbia. Results (“LCT-3″) indicate that a bulk concentrate of 5.6% nickel, 6.0% copper, 3.5 g/t platinum, 6.3 g/t palladium and 0.5 g/t gold can be produced. These results represent recoveries of 68% nickel, 88% copper, 46% platinum, 73% palladium and 59% gold.

The 41 batch tests were designed to test different flowsheet and reagent combinations. Conditions for the reported test LCT-3 include Xanthate, CMC, guar gum and CuSO4. Test conditions for LCT-4 utilized the same reagents as LCT-3 except for the exclusion of CuSO4. LCT-3 and LCT-4 demonstrate that metals can be recovered from varied Wellgreen mineralization through substantially identical flowsheets and common reagents.

Prophecy Chairman John Lee said:

“We are delighted with these preliminary results. The follow-up met studies, along with our infill drilling, expansion drilling, and preliminary economic studies in 2012 will continue to de-risk our 100% owned Wellgreen project and advance this highly unique asset towards feasibility.”

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