VANCOUVER, March 11 /CNW/ - Prophecy Resource Corp. (TSX.V: PCY; OTC: PCYRF; Frankfurt: 3P1) (the "Company" or "Prophecy") is pleased to announce the appointment of Rob McEwen to the Company's Advisory Board.
Mr. McEwen is a leading Canadian mining industry entrepreneur. He is the Chairman and CEO of US Gold Corp (NYSE.A UXG, TSX UXG) and Minera Andes Inc. (TSX: MAI). Mr. McEwen was the founder and former Chairman and CEO of Goldcorp Inc., where it's Red Lake Mine in northwestern Ontario, Canada is still considered to be the richest gold mine in the world. During his tenure at Goldcorp, Mr. McEwen transformed the company from a collection of small companies into a mining powerhouse, growing its market capitalization from US $50 million to approximately $8 billion. More importantly, the shares of the company produced a compounded annual growth rate of 32%. Mr. McEwen is a recipient of the Order of Canada, Canada's highest civilian honor and a philanthropist concentrating his efforts at the McEwen Center for Regenerative Medicine, a leading centre for stem cell biology and regenerative medicine.
John Lee, Chairman of Prophecy, states: "Mr. McEwen possesses an impeccable track record of delivering shareholder value, something Prophecy's management will strive to achieve under Mr. McEwen's guidance. With Prophecy focusing on Asian investors, I look to create synergy with Mr. McEwen through shared networking and to achieve sustainable growth through acquisition and development."
About Prophecy Resource Corp.
Prophecy is a Canadian company focused on the acquisition and development of advanced mineral assets. The company holdings include the Lynn Lake nickel-copper project in Manitoba, the Titan vanadium project in Ontario, and the Okeover copper-molybdenum project in British Columbia. All together, Prophecy controls 540 million lbs of copper, 345 million lbs of nickel, and 207 million lbs of vanadium. Technical reports on all these properties are available at www.sedar.com
On March 4, 2010, Prophecy signed a definitive agreement to combine with Red Hill Energy (TSX-V: RH), which controls over 1.5 billion tons of thermal coal resource in Mongolia.
ON BEHALF OF THE BOARD OF DIRECTORS of
Prophecy Resource Corp.
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.
SOURCE PROPHECY RESOURCE CORP.
For further information: For further information: about Prophecy, please contact us toll-free at 1-800-459-5583 or visit our web site at www.prophecyresource.com