Deputy CEO of En+ Group of Companies Joins Prophecy's Board of Directors

Vancouver, British Columbia, April 1, 2011:  Prophecy Resource Corp. ("Prophecy" or the "Company") (TSX-V:PCY, OTCQX: PRPCF, Frankfurt: 1P2) is pleased to announce the appointment of Mr. Jivko Savov as a non-executive director of the Company.

Mr. Savov spent over 12 years in the energy and power sector within asset management, business development and structured finance roles across a number of international companies. Currently, Mr. Savov is Deputy Chief Executive Officer of En+ Group and is in charge of capital markets and fund raising activities.  Mr. Savov served as a Managing Director of Power and Energy at En+ since joining in 2006, and as a Chairman and Deputy Chairman of EurosibEnergo.

From 2002 to 2006, Mr. Savov managed private equity investments in power and renewable energy projects, oil and gas, and metals in Eastern Europe and Russia working for Equest Partners and MMC Energy.  Before that Mr. Savov worked for EDF Trading and Enron Europe in project finance, structured marketing and business development roles responsible for Eastern European and Benelux markets. Mr. Savov began his career in 1996 at the World Bank, as Project Officer for the Energy and State Enterprise sectors.

Mr. Savov holds an MBA from INSEAD, France and an MSc in International Relations (with Honours) from MGIMO, Russia and speaks Russian, English, Bulgarian, French and Romanian.

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. In Canada Prophecy owns Wellgreen PGM Project in Yukon, Lynn Lake Nickel Sulphide Project in Manitoba, and a 10% equity stake in Victory Nickel.  On February 17, Prophecy agreed to sell its PGM Nickel assets to Pacific Coast Nickel Corp. for 450 million Pacific Coast Nickel shares. 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]

 



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.