I asked my wife if it would be okay for me to go.

Sorry to say it was not affirmative.

One day I'm chicken .. another day I'm feathers.

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Prophecy Receives Permit To Mine at Ulaan Ovoo in Mongolia, Opening Ceremony November, 20

Vancouver, British Columbia, November 11, 2010: Prophecy Resource Corp. (“Prophecy” or the “Company”) (TSX-V:PCY, OTCQX: PRPCF, Frankfurt: 1P2) announces that on November 9th, the Company received the final permit to commence mining operations at its Ulaan Ovoo coal mining project in Mongolia. Prophecy is one of very few international mining companies to achieve such a significant milestone. The mine is production ready, with an official mine opening ceremony scheduled for November 20, 2010.

John Lee, CEO of Prophecy states:

"On behalf of Prophecy shareholders, I would like to thank the Government of Mongolia for the expeditious manner in which this permit was issued. The opening of Ulaan Ovoo is a testament to the industrious and skilled workforce in Mongolia. Prophecy directly and indirectly (through Leighton Asia) employs over 65 competent Mongolian nationals and 4 expats. The Company also wishes to reaffirm its commitment to deliver coal to local Edernet and Darkhan powerplants in Mongolia."

The Ulaan Ovoo open pit mine is 10km from the Russian border and within 120km from Nauski TransSiberian railway station, enabling transportation of coal to Russia and by extension to Russia’s eastern seaports. Thermal coal prices are trading at 2 year highs at Russian seaports due to strong demand from Asian economies.

Leighton Engineering is contracted to mine Ulaan Ovoo coal and trucking operations have commenced in transporting coal by established road for 120km from the mine site to Sukhbaatar rail station. The coal then travels either south to local Mongolian thermal powerplants or north to Russia by rail. Prophecy has received several Russian written expressions of interest and is working to finalize coal sales (off take) contracts with Russian entities.

The Company is hosting a grand opening ceremony at the Ulaan Ovoo mine on Saturday November 20th. Key guests will include political and community leaders, key supporters, analysts, shareholders and Prophecy staff. Those with interest to attend this special event should RSVP invite@prophecyresource.com.

Details on Ulaan Ovoo

Prophecy has a 100% interest in the 208.8 million tonne (174.5 Mt Measured, 34.3 Mt Indicated) and (35.9 Mt Inferred) Ulaan Ovoo Mine that features Bituminous (5,204 kcal/kg), low ash (12.46%), low sulphur (0.40%) thermal coal suitable for export markets. The deposit features a single massive coal seam 45-80 m thick with an average strip ratio of 2:1. (See press release dated April 29, 2009 and pre-feasibility study of Minarco Mineconsult dated May 8, 2009, both as filed on SEDAR) The Mongolian Government has granted the project a fully transferable 30 year mining license that can be extended by an additional 40 years. The project has met Mongolian environmental approvals as per the Mongolian Ministry of Nature and the Environment which approved a Detailed Environmental Impact Assessment (DEIA) and Environmental Protection Plan (EPP) specifically for Ulaan Ovoo. The technical information in this news release has been reviewed and approved by Danniel Oosterman P. Geo, a Prophecy geologist and also a Qualified Person as defined by NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS Prophecy Resource Corp.
"JOHN LEE"
John Lee
Chairman