"Update on PEA, Metallurgy, and 2012 drilling, the Company reports that the preliminary Economic Assessment ("PEA") Study by Wardrop is proceeding on schedule with an anticipated release date in February 2012. Metallurgical tests by SGS have been ongoing since October, with results to be incorporated in the PEA. Prophecy is funded with the recent $10 million equity placement and is gearing up for a 2012 exploration and extensive definition drilling (underground and surface) program, with details to follow by year end."