Mr. Greg Johnson reports

PROPHECY PLATINUM ANNOUNCES CHANGES IN MAJOR SHAREHOLDERS

Prophecy Platinum Corp. has provided a corporate update on changes in its shareholders.

Prophecy Coal Corp. recently announced that it has sold a 24-per-cent equity interest in Prophecy Platinum in a private transaction with the proceeds used to fully pay off its loan due to Waterton Global Value LP. Prior to that transaction, Prophecy Coal was the largest single shareholder of Prophecy Platinum as a result of the 2011 spin-out from Prophecy Resource Corp. As a result, Prophecy Coal has reported that its ownership has decreased to 4.3 per cent (excluding a lesser number of "held in trust shares" that Prophecy Coal holds in reserve for former option and warrantholders of Prophecy Resource Corp.).

Prophecy Platinum is pleased to note that this significant block of shares was purchased by three separate and independent, long-term financial investors who have all communicated their support of the company's projects and management team, and who have each agreed to standard hold periods on the shares they purchased from Prophecy Coal. In addition, the company has been informed that Prophecy Coal and its directors also agreed as part of this transaction to not sell any additional Prophecy Platinum shares in the market before January, 2014.

Two of these investors, including Ernesto Echavarria, who more than doubled his existing position in the company to 17.6 per cent, have been long-term supporters and have participated in previous financings including the June, 2013, financing at 70 cents per unit. Mr. Echavarria is a well-known resource investor and holds a number of plus-10-per-cent positions in other public companies. The third investor is a new significant investor in Prophecy Platinum and recognizes the favourable supply/demand fundamentals in the platinum group metals (PGM) and the exciting potential of Prophecy Platinum's projects.

Greg Johnson, president and chief executive officer of Prophecy Platinum, stated: "We are very pleased to have the support of these three large, long-term investors as we continue to advance the Wellgreen and Shakespeare projects through development towards production. We believe that this significant restructuring of the shareholder base is a strongly positive development that should remove any previous market uncertainty associated with the Prophecy Coal share block and positions the company to bring in additional new long-term investors. Prophecy Platinum's current management team has also purchased more than 1.2 million shares of additional Prophecy Platinum stock in November, bringing their collective purchases in the company over the past 12 months to 5.4-per-cent total direct ownership. We look forward to working with our new largest shareholders along with our existing institutional shareholders and our overall supportive shareholder base, to maximize the value of the company's promising PGM-focused projects over the next couple of years."

The field program at the company's Wellgreen project is nearly complete for the season with drilling anticipated to finish up by month-end. An update on drilling, metallurgy and engineering is anticipated shortly and will be followed by additional updates by the company over coming months as results are received and interpreted.

We seek Safe Harbor.