Prophecy to Host Investor Conference Call on January 20, 2011

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/19/11 -- Prophecy Resource Corp. ('Prophecy' or the 'Company') (TSX VENTURE: PCY)(OTCQX: PRPCF)(FRANKFURT: 1P2) announces that it will host a conference call at 10am EST (7am PST) on Thursday January, 20, 2011. Mr. John Lee, Prophecy Chairman and CEO, will update shareholders and analysts on Prophecy's Mongolian operations and its recently announced transaction with Pacific Coast Nickel (see Prophecy news, January 18, 2011).

Presentations on the proposed Prophecy Coal and Prophecy Platinum transaction are available for download at www.prophecyresource.com.

Interested parties may join the conference call as follows:

Call Date: Thursday, January 20, 2011

Time: 10am EST (7am PST)

The conference call may be accessed by dialing:

1-877-353-9586 (Canada and USA)

(00) 800-9358-7111 (Europe & China)

(001) 800-9358-7111 (Singapore)

Participant Pass Code: 90595#

(Participants are advised to call in 15 minutes in advance)

For phone in playback please dial: 1-877-353-9587 from Canada or the USA or dial 403-699-1055 from local Calgary or International.

Enter the 6 digit Conference Reference Number: 387816 followed by the # key.

Please also key in the participant access code: 90595#

About Prophecy Resource

Prophecy Resource Corporation is an internationally diversified company engaged in developing energy, nickel and platinum group metals projects. The company controls over 1.4 billion tons of open-pittable thermal coal in Mongolia (839 Mt Measured, 579 Mt Indicated). Prophecy's Ulaan Ovoo coal mine is fully commissioned and in production. In Canada Prophecy owns Wellgreen PGM Ni-Cu Project in Yukon, Lynn Lake Nickel Sulphide Project in Manitoba, and a 10% equity stake in Victory Nickel. 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 Northern and Prophecy and the risks and challenges of their businesses, investors should review their 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.

Scott Parsons

1.604.642.2625 ext. 106


Prophecy Resource Corp.

Paul McKenzie

1.604.642.2625 ext. 107


Prophecy Resource Corp.

John Lee

1.800.851.1528
john@prophecyresource.com
www.prophecyresource.com