Prophecy drills 45.5 metres of 0.33% copper and 0.003% Molybdenum at Okeover, continues to expand the resource at the North Lake Zone



    TSX-V Symbol: PCY

    VANCOUVER, July 28 /CNW/ - Prophecy Resource Corp. (TSX-V: PCY) has
received the final results of a six hole, 1,449 metre diamond drill program
recently completed at the Okeover copper/molybdenum project, located
140 kilometres north of Vancouver on the British Columbia coast.
    Highlights of the current program include Hole OK-08-03, which
intersected 45.5 metres grading 0.33% copper and 0.003% molybdenum, including
12 metres grading 0.41% copper and 0.001% molybdenum. Hole OK-08-03 was
drilled 90 metres to the south of the nearest hole in the current North Lake
resource area and creates an open southern edge for future expansion of the
resource area in this direction. The North Lake Zone is one of eight known
areas of significant copper-molybdenum mineralization on the Okeover project,
which is located near the City of Powel River and is a short distance form a
deep water Pacific Ocean port.
    At Okeover, the objectives of the recent program were achieved and
expanded the mineralized area of the North Lake Zone (calculated in 2006 by
N.C. Carter, Ph.D., P. Eng to contain 86.8 million tonnes grading 0.31% copper
and 0.014% MoS(2)) a substantial distance to the south. Prophecy plans to
incorporate the drill results from this current program and last year's
drilling into an updated North Lake resource estimate to be completed later
this year.
    A summary of the drill results from the 2008 exploration programs are as
follows:

    
    -------------------------------------------------------------------------
    Hole         Intercept      From          To           Cu           Mo
                    (m)          (m)          (m)           %            %
    -------------------------------------------------------------------------
    Ok-08-01        57.0        113.0        170.0         0.30        0.003
    Including       42.0        122.0        164.0         0.33        0.003
    -------------------------------------------------------------------------
    Ok-08-02        26.3         72.5         98.8         0.26        0.002
    And             16.5        107.3        123.8         0.33        0.003
    -------------------------------------------------------------------------
    Ok-08-03       198.5         39.5        238.0         0.16        0.001
    Including       45.5         39.5         85.0         0.33        0.003
    Including       12.0         73.0         85.0         0.41        0.001
    -------------------------------------------------------------------------
    Ok-08-04         2.2         98.2         98.0         0.21        0.004
    -------------------------------------------------------------------------
    Ok-08-05        46.4          2.1         48.5         0.10        0.001
    -------------------------------------------------------------------------
    

    Hole OK-08-06, drilled three kilometres further to the south, returned
only anomalous values, with individual three metres sample intervals returning
values to 0.28% Cu and 0.029% Mo.
    With this drill program now complete, Prophecy has spent over $1,000,000
in exploration at Okeover and satisfied its work commitment to earn a 60%
interest from Eastfield Resources Ltd. (TSX.V: ETF).
    J.W. (Bill) Morton P.Geo is the qualified person pursuant to National
Instrument 43-101 guidelines who takes responsibility for this news release.

    About Prophecy Resource Corp.
    -----------------------------
    Prophecy is in the process of earning a 60% interest in the Okeover
Copper-Molybdenum in British Columbia from Eastfield Resources Ltd. (TSX.V:
ETF). In late 2006, N.C. Carter, PhD, P.Eng. completed a technical report on
the Okeover Property pursuant to National Instrument 43-101 that estimated an
inferred mineral resource of 86.8 million tonnes grading 0.31% copper and
0.014% MoS(2) at a 0.20% copper cut-off grade (approximately 593 Million lbs
of copper and 15 million lbs of MoS(2)).

    ON BEHALF OF THE BOARD OF DIRECTORS

    "JAMES BROWN"

    ------------------------------------
    James Brown, President

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.





For further information:

For further information: about Prophecy, please visit our web site at
www.prophecyresource.com or contact us toll-free at (888) 818-8748

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