Prophecy Platinum Corp. ("Prophecy" or the "Company") (TSX
VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) is pleased to announce
the appointment of Greg Johnson, as President and Chief Executive
Officer. Mr. Johnson has over twenty-five years of experience in
the exploration and development of large scale projects in the
mining industry and, through his global network of contacts, has
been involved in raising over $650 million in project
financing.
Mr. John Lee, Chairman of the Board and founder of the Company
through the initial spin-out from Prophecy Resource Corp, stated,
"We are excited to welcome Mr. Greg Johnson to lead the executive
management team at Prophecy Platinum Corp. and to take the Company
through the next stages of development. Mr. Johnson has the
demonstrated experience, expertise and vision that we believe will
allow the Company to successfully advance its projects and maximize
shareholder value going forward. Along with the recent addition of
John Sagman as Chief Operating Officer, we are putting in place a
recognized executive management team to lead technical, financial
and developmental aspects of the world class Wellgreen PGM-Cu-Ni
project in the Yukon."
Prior to joining Prophecy, Mr. Johnson held the position of
President and CEO at South American Silver, where he lead the
significant advancement and expansion of the Company's two
development stage projects in South America - including a world
class silver deposit and a major new copper-gold discovery. During
this time, South American Silver's market capitalization increased
from $20 million to a peak of $350 million.
Previously as a co-founder and executive at NovaGold Resources,
Mr. Johnson was a key member of the executive team that led
NovaGold from a $50-million market capitalization to more than
$2-billion and oversaw the expansion of the company's resource base
to over 30 million ounces of gold. Over his 12 years with NovaGold,
Mr. Johnson played a prominent role in the acquisition and
advancement of three world-class deposits, including the completion
of three feasibility studies. For his role in the discovery and
advancement of the 40-million-ounce Donlin Creek gold deposit in
Alaska, Greg was honoured as a co-recipient of the PDAC's Thayler
Lindsay International Discovery Award.
Mr. Johnson began his career with Placer Dome Inc. (now Barrick
Gold), where he held various senior roles in domestic and
international exploration in projects from early discovery stage to
feasibility and operations in Alaska, Canada, Africa, Australia and
Russia. Mr. Johnson holds an honors degree in Geology from Western
Washington University.
Mr. Greg Johnson, newly appointed President and CEO, stated, "I
am excited to join Prophecy Platinum at this point of rapid growth,
yet early market awareness for the company. We look to continue to
build the technical and management team to successfully advance and
grow what is already one of the world's largest undeveloped
platinum group metal, nickel and copper deposits at Wellgreen. With
its low political risk location in the Yukon and existing
development infrastructure, we believe there is excellent
opportunity to significantly add shareholder value as we advance
the project toward development."
Mr. Johnson was granted 800,000 options at an exercise price of
$1.14 per share expiring November 2, 2017.
The Company also advises that it has granted 500,000 options
having an exercise price of $1.24 per share expiring October 17,
2017 to its new Chief Operating Officer, Mr. John Sagman.
About The Wellgreen PGM-Nickel-Copper Project
Prophecy Platinum's flagship project is the Wellgreen
PGM-Nickel-Copper Project in the Yukon Territory, Canada. Wellgreen
is a historic producing project with one of the world's largest
undeveloped PGM, Nickel, Copper and Cobalt resources with
significant enrichment in rare platinum groups metals such as
rhodium (Rh), ruthenium (Ru), rhenium (Re), iridium (Ir), and
osmium (Os). The resource remains open to further expansion
laterally and at depth, and recent drilling has identified a broad
disseminated mineralized zone which may result in an expanded open
pittable resource. A recently released Preliminary Economic
Assessment study by Tetra Tech Wardrop shows the potential to
produce 7 million ounces of combined platinum, palladium and gold,
2 billion pounds of nickel and 2 billion pounds of copper over the
life of the mine. The project is road accessible just off the
Alaska Highway and as an open pit operation, has the potential to
be one of the industry's lowest cost nickel sulphide producers.
About Prophecy Platinum
Prophecy Platinum Corp. is a Canadian based PGM, Nickel and
Copper exploration company with projects in Canada and Uruguay.
Prophecy Platinum's flagship Wellgreen PGM-Cu-Ni project is located
in Yukon Territory, Canada. Prophecy's Shakespeare PGM-Cu-Ni
project (fully-permitted) is located in Ontario, and its Lynn Lake
project is located in Manitoba, Canada. Further information can be
found at www.prophecyplat.com.
Forward Looking Statements: This news release includes certain
statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical
facts, including, without limitation, statements of potential
mineralization, the estimation of mineral resources, the
realization of mineral resource estimates, interpretation of prior
exploration and potential exploration results, the timing and
success of exploration activities generally, the timing and results
of future resource estimates, permitting time lines, metal prices
and currency exchange rates, availability of capital, government
regulation of exploration operations, environmental risks,
reclamation, title, and future plans and objectives of the Company
are forward-looking statements that involve various risks and
uncertainties. Although Prophecy believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements.
Forward-looking statements are based on a number of material
factors and assumptions. Factors that could cause actual results to
differ materially from those in forward-looking statements include
unsuccessful exploration results, changes in project parameters as
plans continue to be refined, results of future resource estimates,
future metal prices, availability of capital and financing on
acceptable terms, general economic, market or business conditions,
risks associated with operating in foreign jurisdictions, uninsured
risks, regulatory changes, defects in title, availability of
personnel, materials and equipment on a timely basis, accidents or
equipment breakdowns, delays in receiving government approvals,
unanticipated environmental impacts on operations and costs to
remedy same, and other exploration or other risks detailed herein
and from time to time in the filings made by the companies with
securities regulators. Readers are cautioned that mineral resources
that are not mineral reserves do not have demonstrated economic
viability. Mineral exploration and development of mines is an
inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements.
For more information on Prophecy and the risks and challenges of
their businesses, investors should review their annual filings that
are available at www.sedar.com.
"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. Chris Ackerman Senior Manager,
Investor Relations 1-800-459-5583cackerman@prophecyplat.com
www.prophecyplat.com
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