Source: Prophecy Resources                           Date: 09 December, 2010

Prophecy Resources Corp. has agreed to the terms of the equity offering and will issue 35,295,000 common shares at a price of CAD0.85 per share to raise a total of USD30,000,750. The net proceeds will be used to fund work on the company’s existing assets in Mongolia, repayment of an outstanding credit facility, and for working capital and general purposes. The company controls over 1.4 billion tons of open-pittable thermal coal in Mongolia.