Prophecy Platinum Corp. — Developing Its Wellgreen PGM Nickel Property in Canada’s Yukon Territory

Overview

Prophecy Platinum Corp. (TSXV:NKL, OTCQX:PNIKF, FWB:P94P) is a mineral exploration company focused on developing platinum group metals and nickel sulphide projects. Prophecy Platinum’s flagship project is the Wellgreen PGM Nickel property in the Yukon Territory, Canada, but also holds properties in Manitoba, Argentina, and Uruguay.

Investment Highlights

• 289 million tonnes of inferred resource with grades 0.38% Ni, 0.35% Cu, 1.18 g/t PGM+Au and 14 million tonnes of indicated resource at 0.69% Ni, 0.62% Cu, 2.25 g/t PGM+Au
• Yukon is a mining friendly jurisdictions
• Ideal location – Wellgreen is highly accessible to main roads, great infrastructure, electricity and water
• Exploration upside – Current strike length is 2.6km but geophysical anomaly extents additional 2.3kms with further exploration potential
• One of only a few deposits of pgm outside South Africa
• Presence of exotic pgm elements, including Rhodium, Iridium, Osmium and Ruthenium
• 20,000 metre drill program planned for 2012 at Wellgreen
• Preliminary Economic Assessment (PEA) and Metallurgical Study to be completed Q1 2012

Key Projects

Wellgreen Property – Yukon Territory, Canada

Prophecy Platinum holds 100% interest in the Wellgreen Property, after acquiring it from Prophecy Coal Corp. in June 2011.

The Wellgreen property is located in the southwest of Canada’s mining-friendly Yukon Territory. Situated along the Kluane Ultramafic Nickel belt, the property is rich in platinum group metals, nickel, and copper, and features well-developed infrastructure, approximately 35 km northwest of the Burwash Landing airstrip, 15 km from the Alaska Highway, and 402 km from Alaska’s Haines deep sea port.

With surface expression apparent throughout the property, the Wellgreen deposit is shallow and suitable for open pit mining. It has been compared to Norilsk in Russia, in terms of both size and resource grades.

An NI 43-101 compliant resource estimate was released in July, incorporating historical data from 53,222 m of drilling in 701 diamond drill holes, and estimating total inferred resources of 289.2 million tonnes at an average grade of 0.53 g/t platinum, 0.42 g/t palladium, 0.23 g/t gold (1.18g/t PGM+Gold), 0.38% nickel, and 0.35% copper. The deposit also contains indicated resources of 14.3 million tons at an average grade of 0.99 g/t platinum, 0.74 g/t palladium, 0.52 g/t gold (2.25 g/t PGM+Gold), 0.69% nickel, and 0.69% copper.

For a detailed Resource/Grade Table, click here. 

Prophecy Platinum began a drill program in June. Drilling results to date indicate a large deposit with a high percentage of PGM and NiCu. Drill results from the first completed hole were released in August, intersecting 472.6 m of mineralization grading 0.43% NiEq, within which 49.5 m of 1.27 g/t PGM+Au, 0.71% Ni, 0.45% Cu (1.11% NiEq) was encountered. Further drill results were released in September from a hole drilled outside of current resource boundaries, returning 120.9 m grading 1.26 g/t PGM+Au, 0.36% Ni, 0.30% Cu within 457 m grading 0.47% NiEq. Also within this body of mineralization, drilling encountered a high grade section of 17.8 m of 3.14 g/t Pt+Pd+Au, 1.03% Ni, 0.74% Cu (1.77% NiEq).

Under the 2011 program, approximately 2,300 m of drilling has been completed to date. Drilling will continue over the winter to expand and further define the resource and increase measured and indicated resource estimates. Prophecy intends to use 2011 drill results to update the current resource estimate in a report tentatively scheduled for release in Q1-2012.

A Preliminary Economic Assessment is also under way. Preliminary pit shell parameters to demonstrate the resource’s suitability for open-pit mining are expected in October, and a high-level scoping study is slated for completion by Q4-2011.

Management

Irina Plavutska MEc, CGA, Interim CFO

Ms. Plavutska has been with the Prophecy group of companies since 2010 and is currently interim CFO of Prophecy Coal Corp. She is a professional accountant with over 20 years of diverse international experience in financial reporting, auditing, and accounting. She is a member of Certified General Accountants Association of British Columbia.

Mr. Patrick Langlois, B.Com, MBA, CFA – Vice President Corporate Development

Mr. Langlois has extensive investment banking and venture capital experience, with past roles that have included Director of Investment Banking at Stonecap Securities and Managing Director of Investment Banking at Laurentian Bank Securities. Patrick has provided corporate finance expertise across a broad spectrum of industries, advising numerous corporations regarding public offerings, private placements, as well as mergers and acquisitions. Mr. Langlois, based in Toronto, joins Prophecy on a full time basis and holds an M.B.A. from Université de Sherbrooke, as well as a CFA designation and membership in the CFA Institute.

Mr. Joseph Li, B.Com, CGA – General Manager and Corporate Secretary

Mr. Li is a Certified General Accountant (B.C.) and has a B.Com (Hons) from Laurentian University. For 13 years, Joseph was a Senior Auditor with the B.C. Ministry of Finance, a position which allowed him to gain valuable insight into how diverse businesses and organizations of all sizes are operated. Mr. Li has been the General Manager and Corporate Secretary of Prophecy Coal Corp. since January, 2011, and oversaw the spinoff of Prophecy Platinum Corp.

Directors

John Lee, CFA – Chairman

John Lee is an entrepreneur with degrees in economics and engineering from Rice University, U.S. He was appointed Chairman and CEO of Prophecy Resource Corp. in October 2009. In a little over a year and under John’s leadership, Prophecy Resource Corp. grew from having minimal assets to owning substantial coal and PGM assets in Mongolia and Canada. Prophecy Resource Corp. was restructured to Prophecy Coal Corp. and Prophecy Platinum Corp. in June, 2011. Prophecy Coal Corp. is only the second Canadian public company to commission a mine to production in Mongolia, a country where John calls his second home. John Lee is also CEO and chairman of Prophecy Coal Corp.

Mike Sylvestre M.Sc, P.Eng, – Director

For most of his career, Mr. Sylvestre worked with Inco Ltd. where he most recently held senior management positions domestically and internationally. Most notably, he was the CEO Vale Inco, New Caledonia, President Vale Inco, Manitoba Operations and Vice President of Operations PT Inco, Indonesia. Mr. Sylvestre brings over 35 years of mining experience to Prophecy.

Mr. Sylvestre holds a MSc and a BSc in Mining Engineering from McGill University and Queen’s University, respectively. He is also a member of the Professional Engineers of Ontario and the Canadian Institute of Mining.

Greg Hall – Director

Mr. Hall is an independent business adviser to the mining industry. For over 30 years, Mr. Hall has focused on significant international exploration, development and mining ventures, and all aspects of corporate structuring and finance. He is a current director of Prophecy Coal Corp. (PCY.V) and a former director of Silvercorp Metals Inc., China’s largest primary silver producer. His previous positions include being a director with Haywood Securities Inc., vice-president with Canaccord Capital Corporation, and senior vice-president with Leede Financial Markets Inc. He is a graduate of the SME Board program at the Rotman School of Management, University of Toronto, and a member of the Institute of Corporate Directors.

Donald Gee – Director

Mr. Gee, CA, brings more than 30 years of experience in finance and accounting, with extensive experience in business start-ups, international business, and managing public resource companies and mining company joint ventures. As an entrepreneur, Mr. Gee was the successful founder of Gee & Company Chartered Accountants, a Vancouver-based public accounting firm. More recently, Mr. Gee has served as a key executive and director for several publicly listed resource companies. Mr. Gee is a member of the Canadian Institute of Chartered Accountants, the Society of Economic Geologists, and the Canadian Institute of Mining and Metallurgy. He holds a Bachelor of Science degree in geology from the University of British Columbia.

David Patterson – Director

Mr. Patterson has been involved with exploration companies for over two decades. He has an MBA from Vancouver’s Simon Fraser University. Mr. Patterson has an extensive European and North American network which has enabled him to raise in excess of $100-million for mineral exploration companies, including Donner Metals Ltd., for which he acts as chairman.

Joseph Li B.Com, CGA, General Manager and Corporate Secretary, Director

Mr. Li is a Certified General Accountant (B.C.) and has a B.Com (Hons) from Laurentian University. For 13 years, Joseph was a Senior Auditor with the B.C. Ministry of Finance, a position which allowed him to gain valuable insight into how diverse businesses and organizations of all sizes are operated. Mr. Li has been with the Prophecy group of companies since January, 2011 and oversaw the successful spinoff of Prophecy Platinum Corp. In addition to holding the positions of General Manager and Corporate Secretary with Prophecy Platinum Corp., Mr. Li is Director, General Manager and Corporate Secretary of Prophecy Coal Corp., which owns approximately 50% of Prophecy Platinum Corp.

Advisory Board

Gary Johnson, Metallurgical Advisor

Mr. Johnson is a metallurgist with over 30 years of experience in all aspects of the mining industry. In his early career, he gained broad operational and project experience in a range of metals at operations in Africa and Australia, including as a member of the team operating the metallurgical pilot plant at the giant Roxby Downs (also known as Olympic Dam) copper, gold and uranium project in South Australia.

Mr. Johnson spent ten years as Chief Metallurgist for a large gold producer before forming his own specialized hydrometallurgical consulting company in 1998. During this period, he worked closely with LionOre Mining International to develop the Activox process for treating sulphide concentrates. He also was closely involved with Tati Nickel Mining Company (Pty) Limited, in Botswana, which grew to become the largest nickel mine in Africa.

In 2006, LionOre acquired Mr. Johnson’s company and he joined LionOre as a senior executive. In 2007, LionOre was successfully taken over by MMC Norilsk Nickel. Mr. Johnson became a Managing Director of Norilsk’s Australian operations in 2009. Mr. Johnson currently runs his own consulting company specializing in high-level metallurgical and strategic advice.

Dr. Larry Hulbert D.Sc., P.Geo, Geological Advisor

Dr. Hulbert’s impressive professional background includes 23 years with the Geological Survey of Canada (GSC), most recently in the role of Senior Research Scientist where Dr. Hulbert’s focus was in the Metallogeny of Mafic-Ultramafic Rocks and associated Ni-Cu-PGM mineralization. His analysis and research included numerous Ni-Cu-PGM deposits throughout Canada and the world, including Prophecy’s Wellgreen property.

The author of several comprehensive reports defining the geology of the Wellgreen deposit and the broader Kluane Mafic-Ultramafic Belt as a whole, Dr. Hulbert has an intricate understanding of all aspects of both the region and the project.

Dr. Hulbert has been registered as a Professional Geoscientist since 2003 and as a Qualified Person for the purpose of National Instrument 43-101. He holds a B.Sc. (Hons) and M.Sc. from the University of Regina, as well as a D.Sc. from the University of Pretoria in South Africa.

Brian R. Booth, P.Geo., B.Sc., Wellgreen Project Advisor

Mr. Booth was President & CEO and a director of Lake Shore Gold Corp. from 2005-2009, a publicly traded company developing 3 mines in the historic Timmins Gold Camp in Ontario. During his tenure at Lake Shore, Brian led the team that completed the drilling of the gold resources and the pre-feasibility study at the Timmins West deposit, purchased the Bell Creek mine and mill and discovered the Thunder Creek gold deposit. Prior to joining Lake Shore, Brian held various management roles over 23 years with Inco Limited, one of the world’s largest mining companies. His roles included Manager of Exploration – North America and Europe and Manager of Global Nickel Exploration.

Brian has explored for nickel-copper, precious and base metal deposits throughout Canada, Europe, South America and southeast Asia for 30 years. He is credited with the discovery of the Douay West gold deposit in Québec, conducted the preliminary assessment of the Voisey’s Bay Ni-Cu-Co discovery for Inco, and was involved, through a joint venture with Highlands Gold, in the discovery of the Beutong copper porphyry in Sumatra, Indonesia.

Brian holds a B.Sc. In Geology from McGill University and was awarded an honorary lifetime membership in the Indonesian Mining Association for service as Assistant Chairman of the Professional Division.

John McGoran P.Geo, Advisor

John McGoran graduated with a Bachelor of Science degree in geology from Carleton University and has a P.Geo designation. Mr. McGoran is a member in good standing with both the British Columbia Association of Professional Engineers and Geoscientists, and the Society for Mining, Metallurgy and Exploration. Mr. McGoran’s extensive experience includes thirty eight years as an economic geologist and twelve years as a prospector for economic minerals. Mr. McGoran is a co-founder of Imperial Metals Corp., founder of Fleck Resources (now Polymet), founder of Northern Platinum Ltd. and former director of Prophecy Coal Corp. (PCY.T).