Prophecy Platinum Corp. (TSX VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) and the Kluane First Nation announce that they have concluded a cooperation and benefits agreement to support Prophecy’s exploration program and environmental studies for the development of its flagship Wellgreen Project in southwestern Yukon.

The Agreement, which is comprehensive in nature, includes provisions for employment and training opportunities for KFN citizens, contracting opportunities for KFN businesses and citizens, funding for the meaningful implementation of the Agreement, and an equity position in Prophecy Platinum for KFN and its citizens. Acting reasonably and in good faith, KFN may participate fully and without limitation in all regulatory process concerning the exploration activities. Other highlights include environmental protection through the cooperative design and implementation of environmental management and monitoring programs, and a framework and mutual commitment to develop a Comprehensive Cooperation and Benefits Agreement for the eventual development and operation of a mine.

KFN Chief Mathieya Alatini states: “The Kluane First Nation is pleased to be forging a close relationship with Prophecy. We appreciate the open dialogue and proactive approach to engagement with KFN that Prophecy has initiated and continued to demonstrate. Having worked with Prophecy for the past many months, our people look forward to contributing substantially to Prophecy’s exploration activities and to strengthening our relationship toward the development of a mine at Wellgreen.”

John Lee, Chairman of Prophecy, states: “The Prophecy team is committed to an open and mutually beneficial relationship with the Kluane First Nation and local communities. I would like to express my gratitude to Chief Alatini and her team for their hard work and commitment toward completing this agreement. This agreement reflects our genuine and mutual commitment to work together in support of one another’s interests, and provides a foundation for strengthening our relationship as Prophecy moves toward a production decision.”

About the Kluane First Nation

The Kluane First Nation (“KFN”) is a Yukon First Nation with a Traditional Territory covering 350 square miles of Settlement Lands and based in Burwash Landing. KFN citizens, currently numbered at 243 concluded the Kluane First Nation Final Agreement with Canada and the Yukon Government in 2003 by which it settled its aboriginal rights and title with respect to its Traditional Territory. The Wellgreen Project is located in the KFN Traditional Territory and, approximately 25 km from Burwash Landing in the KFN “Core Area” as described in the Kluane First Nation Final Agreement.

About Prophecy Platinum

Prophecy Platinum Corp. is a Canadian-based Nickel PGM exploration company with projects in Canada, Argentina 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.