Mr. John Lee of Prophecy reports

PROPHECY LOANS NORTHERN $50,000

Prophecy Resource Corp. and Northern Platinum Ltd. have entered into a loan agreement whereby Prophecy will loan $50,000 to Northern.

The loan will be due on Dec. 31, 2010, and accrue interest at the prime rate plus 4 per cent per annum. A loan bonus of 20 per cent of the loan principal will be payable through the issuance of a total of up to 47,600 common shares of Northern, subject to the approval of the TSX Venture Exchange. Pursuant to the plan of arrangement with Prophecy, on the effective date of the arrangement, the bonus shares issuable to Prophecy by Northern will be cancelled without any repayment of capital.

Proceeds of the loan are to be used to support Northern's working capital pending completion of the plan of arrangement with Prophecy (see news release in Stockwatch dated July 16, 2010).