Source: Prophecy Resource                            Date: 10 February, 2011

Prophecy Resource Corp. has received the full mining license from the Mineral Resources Authority of Mongolia for the Chandgana Tal Deposit containing 141 million tons of Measured coal and located 9 km north of Prophecy's Chandgana Khavtgai project. Previously only a small portion of Tal possessed mining license status. The full mining license represents the second significant milestone granted to Prophecy towards its planned 600-MW mine mouth power plant in the Chandgana Projects area.