Shareholders of Northern Platinum Approve Merger with Prophecy Resource

Vancouver, British Columbia, September 3, 2010: Prophecy Resource Corp. ("Prophecy") (TSX-V:PCY, OTCQX: PRPCF, Frankfurt: 1P2) and Northern Platinum Ltd ("Northern") (TSX-V: NTH) (together, the "Companies") announce that the shareholders of Northern have approved the acquisition of Northern by Prophecy by way of a Plan of Arrangement. The votes were tabulated during an annual and special shareholder meeting held earlier today. 99.9% of votes supported the transaction.

Completion of the arrangement remains subject to approvals from the British Columbia Supreme Court and the TSX Venture Exchange. Northern and Prophecy will seek final approval from the B.C. Supreme Court for the Arrangement at a hearing to be held on September 8, 2010, with arrangement completion date on or before September 10, 2010.

Details on the Arrangement Agreement between Northern & Prophecy can be reviewed in the following joint news releases issued by the Companies: June 14 and July 16, 2010.

For further information, please contact John Lee, Co-Chairman and CEO of Prophecy, at +1.800.851.1528 or Mel de Quadros, President and CEO, at 604.669.2066.

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). In Canada Prophecy owns Lynn Lake Nickel Project, a 10% equity stake in Victory Nickel and agreed to merge with Northern Platinum (TSX-V: NTH) on June 15, 2010. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

 


ON BEHALF OF THE BOARD OF DIRECTORS Prophecy Resource Corp.
"JOHN LEE"
John Lee
Chairman
Telephone 1.800.851.1528
Email: [email protected]

Northern Platinum Limited
President and CEO
Mel De Quadros
Telephone 604.669.2066
Email: [email protected]



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.