Prophecy Platinum Appoints Greg Johnson as President and Chief Executive Officer
06 November 2012 - 5:33AM
OTC Markets
Prophecy Platinum Corp. ("Prophecy" or the
“Company”)
(TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) is pleased to
announce
the appointment of Greg Johnson, as President and Chief
Executive
Officer. Mr. Johnson has over twenty-five years of experience
in the
exploration and development of large scale projects in the mining
industry and,
through his global network of contacts, has been involved in
raising over $650
million in project financing.
Mr. John Lee, Chairman of the Board and founder of the Company
through the
initial spin-out from Prophecy Resource Corp, stated, “We are
excited to
welcome Mr. Greg Johnson to lead the executive management team at
Prophecy
Platinum Corp. and to take the Company through the next stages of
development. Mr.
Johnson has the demonstrated experience, expertise and vision that
we believe
will allow the Company to successfully advance its projects and
maximize
shareholder value going forward. Along with the recent addition of
John Sagman
as Chief Operating Officer, we are putting in place a recognized
executive
management team to lead technical, financial and developmental
aspects of the
world class Wellgreen PGM-Cu-Ni project in the Yukon.”
Prior to joining Prophecy, Mr. Johnson held the position of
President and CEO
at South American Silver, where he led the significant advancement
and
expansion of the Company’s two development stage projects in South
America -
including a world class silver deposit and a major new copper-gold
discovery.
During this time, South American Silver’s market capitalization
increased from
$20 million to a peak of $350 million.
Previously as a co-founder and executive at NovaGold Resources, Mr.
Johnson was
a key member of the executive team that led NovaGold from a
$50-million market
capitalization to more than $2-billion and oversaw the expansion of
the
company’s resource base to over 30 million ounces of gold. Over his
12 years
with NovaGold, Mr. Johnson played a prominent role in the
acquisition and
advancement of three world-class deposits, including the completion
of three
feasibility studies. For his role in the discovery and advancement
of the
40-million-ounce Donlin Creek gold deposit in Alaska, Greg was
honoured as a
co-recipient of the PDAC’s Thayler Lindsay International Discovery
Award.
Mr. Johnson began his career with Placer Dome Inc. (now Barrick
Gold), where he
held various senior roles in domestic and international exploration
in projects
from early discovery stage to feasibility and operations in Alaska,
Canada,
Africa, Australia and Russia. Mr. Johnson holds an honors degree in
Geology
from Western Washington University.
Mr. Greg Johnson, newly appointed President and CEO, stated, “I am
excited to
join Prophecy Platinum at this point of rapid growth, yet early
market
awareness for the company. We look to continue to build the
technical and
management team to successfully advance and grow what is already
one of the
world’s largest undeveloped platinum group metal, nickel and copper
deposits at
Wellgreen. With its low political risk location in the Yukon and
existing
development infrastructure, we believe there is excellent
opportunity to
significantly add shareholder value as we advance the project
toward
development.”
Mr. Johnson was granted 800,000 options at an exercise price of
$1.14 per share
expiring November 2, 2017.
The Company also advises that it has granted 500,000 options having
an exercise
price of $1.24 per share expiring October 17, 2017 to its new Chief
Operating
Officer, Mr. John Sagman.
About The Wellgreen PGM-Nickel-Copper Project
Prophecy Platinum’s flagship project is the Wellgreen
PGM-Nickel-Copper Project
in the Yukon Territory, Canada. Wellgreen is a historic producing
project with
one of the world’s largest undeveloped PGM, Nickel, Copper and
Cobalt resources
with significant enrichment in rare platinum groups metals such as
rhodium
(Rh), ruthenium (Ru), rhenium (Re), iridium (Ir), and osmium (Os).
The resource
remains open to further expansion laterally and at depth, and
recent drilling has
identified a broad disseminated mineralized zone which may result
in an
expanded open pittable resource. A recently released Preliminary
Economic
Assessment study by Tetra Tech Wardrop shows the potential to
produce 7
million ounces of combined platinum, palladium and gold, 2 billion
pounds of
nickel and 2 billion pounds of copper over the life of the mine.
The project is
road accessible just off the Alaska Highway and as an open pit
operation, has
the potential to be one of the industry’s lowest cost nickel
sulphide
producers.
About Prophecy
Platinum
Prophecy Platinum Corp. is a Canadian based PGM, Nickel and Copper
exploration
company with projects in Canada and Uruguay. Prophecy Platinum’s
flagship
Wellgreen PGM-Cu-Ni project is located in Yukon Territory,
Canada.
Prophecy’s Shakespeare PGM-Cu-Ni project (fully-permitted) is
located in
Ontario, and its Lynn Lake project is located in Manitoba,
Canada.
Further information can be found at www.prophecyplat.com.
For further information:
Chris Ackerman
Senior Manager, Investor Relations
1-800-459-5583
cackerman@prophecyplat.com
www.prophecyplat.com
Mineral resources that are not mineral reserves do not have
demonstrated
economic viability. 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.
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 potential mineralization,
the
estimation of mineral resources, the realization of mineral
resource estimates,
interpretation of prior exploration and potential exploration
results, the
timing and success of exploration activities generally, the timing
and results
of future resource estimates, permitting time lines, metal prices
and currency
exchange rates, availability of capital, government regulation of
exploration
operations, environmental risks, reclamation, title, and future
plans and
objectives of the company are forward-looking statements that
involve various
risks and uncertainties. . Although Prophecy believes 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 failure
to obtain necessary approvals in respect of the Transaction,
unsuccessful
exploration results, changes in project parameters as plans
continue to be
refined, results of future resource estimates, future metal
prices,
availability of capital and financing on acceptable terms, general
economic,
market or business conditions, risks associated with operating in
foreign
jurisdictions, uninsured risks, regulatory changes, defects in
title,
availability of personnel, materials and equipment on a timely
basis, accidents
or equipment breakdowns, delays in receiving government
approvals,
unanticipated environmental impacts on operations and costs to
remedy same, and
other exploration or other risks detailed herein and from time to
time in the
filings made by the companies with securities regulators. Readers
are cautioned
that mineral resources that are not mineral reserves do not have
demonstrated
economic viability. 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 of their businesses,
investors should
review their annual filings that are available at
www.sedar.com.
"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."
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.
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