Prophecy Platinum Files Wellgreen Mineral Resource Technical Report and Sets Investor Conference Call for Monday, July 25 at 1:30 pm EST

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/21/11 -- Prophecy Platinum Corp. ('Prophecy Platinum' or the 'Company') (TSX VENTURE: NKL)(PINK SHEETS: PNIKD)(FRANKFURT: P94P) announces it has filed on SEDAR, the independent National Instrument (NI) 43-101 compliant report prepared by Todd McCracken, P. Geo. of Wardrop Engineering Inc., a Tetra Tech Company, relating to a mineral resource estimate for its Wellgreen PGE-Ni-Cu property located in the Yukon Territory, Canada, following announcements made by the Company in a news release dated July 14, 2011.

Prophecy Platinum will hold an investor conference call on Monday, July 25, 2011 at 1:30 pm EST (10:30 am PST). Mr. John Lee, chairman and Mr. Danniel Oosterman, P.Geo., senior geologist, will lead the conference call to discuss the Wellgreen project.

The conference call may be accessed by dialing:

--  1.800.743.4304 in Canada and the United States
--  0.800.496.1447 in the U.K.
--  0.800.180.7083 in Germany
--   1.647.722.6879 in other countries.

A link to a simultaneous webcast of the conference call can be accessed at www.prophecyplat.com.

The Wellgreen technical report is available for download at www.prophecyplat.com. The call archive will also be available for access on the company website after the conference call.

About Prophecy Platinum

Prophecy Platinum Corp. is a Canadian based Nickel PGM exploration company with projects in Canada, Argentina and Uruguay. Prophecy Platinum's flagship Wellgreen PGM-Cu-Ni project is in Yukon Territory, Canada and the Lynn Lake project is located in Manitoba, Canada. Prophecy Coal Corp. (TSX VENTURE: PCY) owns 22.5 million common shares or 45% of Prophecy Platinum Corp. Further information can be found at www.prophecyplat.com.

ON BEHALF OF THE BOARD OF DIRECTORS of

Prophecy Platinum Corp.

John Lee, Chairman

'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 Platinum Corp.

Joseph Li

1.800.362.7366
jli@prophecyplat.com
www.prophecyplat.com