Prophecy Resource Corp. Appoints New Chief Financial Officer
05 May 2011 - 10:30PM
Marketwired
Prophecy Resource Corp. ("Prophecy" or the "Company") (TSX VENTURE:
PCY)(OTCQX: PRPCF)(FRANKFURT: 1P2) is pleased to announce the
appointment of David Jan as the Company's Chief Financial Officer.
Mr. Jan is a Chartered Accountant (CA) and joins Prophecy from
Western Coal Corp., where he held the position of Head of Investor
Relations prior to its merger with Walter Energy Inc. In that role
he significantly contributed in increasing Western Coal's profile
as it grew from a $50 million market capitalization junior coal
mining company to a $3.3 billion global coal mining company. Over
the past 20 years Mr. Jan has also held progressively senior
financial positions in other natural resource companies.
"We are pleased to have David join the Prophecy management
team," said John Lee, Prophecy's Chairman and Chief Executive
Officer. "His coal background is an excellent fit for the company.
David's expertise in capital markets in Europe and North America
rounds out Prophecy's skilled management set well."
With Mr. Jan's appointment, Ms. Irina Plavutska, formerly the
company's Interim Chief Financial Officer, has been appointed
Corporate Controller of the company. In this new role, Ms.
Plavutska will continue with her excellent work as a key member of
the management team.
About Prophecy Resource
Prophecy Resource Corp. is an internationally diversified
company engaged in developing energy, nickel and platinum group
metals projects. The company controls over 1.4 billion tonnes of
surface minable thermal coal resources in Mongolia. Prophecy's
Ulaan Ovoo coal mine is fully operational and its Chandgana mine
mouth power plant is currently being permitted. In Canada, Prophecy
owns the Wellgreen PGM Project in Yukon and Lynn Lake Nickel
Sulphide Project in Manitoba, both of which it has agreed to sell
to Pacific Coast Nickel Corp. Prophecy also owns equity stakes in
Victory Nickel Inc. and Compliance Energy Corp. Mineral resources
that are not mineral reserves do not have demonstrated economic
viability.
ON BEHALF OF THE BOARD OF DIRECTORS of Prophecy Resource
Corp.
John Lee, Chairman
Forward Looking Statements: This news release includes certain
statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical
facts, including, without limitation, statements regarding future
plans and objectives of the companies are forward-looking
statements that involve various risks and uncertainties. Although
Northern and Prophecy believe the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the
forward-looking statements. Forward-looking statements are based on
a number of material factors and assumptions. Factors that could
cause actual results to differ materially from those in
forward-looking statements include general economic, market or
business conditions, and other risks detailed herein and from time
to time in the filings made by the companies with securities
regulators. Mineral exploration and development of mines is an
inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements.
For more information on Prophecy and the risks and challenges,
investors should review the company's annual filings that are
available at www.sedar.com.
This press release does not constitute an offer to sell or a
solicitation to buy any of the securities in the United States. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended ("the U.S.
Securities Act") or any state securities law and may not be offered
or sold in the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws
or an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Prophecy Resource Corp. David Jan Chief Financial
Officer 1-800-358-5865 djan@prophecyresource.com
www.prophecyresource.com
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