Prophecy Platinum Appoints Rob Bruggeman As VP Corporate Development

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Vancouver, B.C. , August 16, 2012: Prophecy Platinum Corp. (“Prophecy” or the “Company”) (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) is pleased to announce the appointment of Mr. Rob Bruggeman as Vice President, Corporate Development. Rob Bruggeman has worked in the brokerage industry in Toronto for over a decade. He was a small cap equity research analyst at a brokerage firm from 2000 to 2005, a desk analyst and proprietary trader in the Institutional Equities Division of a large Canadian financial institution from 2005 to 2010, and most recently, he led the Institutional Equity Sales & Trading Group at a boutique brokerage firm with a strong focus on small cap mining companies. Prior to joining the brokerage industry in 2000, Mr. Bruggeman worked for a Canadian telecom company where he held a variety of roles, including Corporate Development. He holds a Bachelor of Engineering and Management degree from McMaster University, an MBA in Strategy & Finance from the Schulich School of Business and is a CFA charter holder.

John Lee, Chairman and CEO of Prophecy, states: “Rob has solid research, sales and trading experience in mining equities, and will anchor our presence in Toronto. Team building is a top priority at Prophecy and we will continue to bring on key marketing and technical management personnel to advance Prophecy’s strong suite of high quality assets worldwide. ”

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.

ON BEHALF OF THE BOARD OF DIRECTORS of

Prophecy Platinum Corp. “John Lee”
John Lee
Chairman

For further information:
Chris Ackerman
Senior Manager, Investor Relations
1-800-459-5583

[email protected]
www.prophecyplat.com

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, including, without limitation, statements potential mineralization, the estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. . Although Prophecy believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals in respect of the Transaction, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with operating in foreign jurisdictions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on Prophecy and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”

This press release does not constitute an offer to sell or a solicitation to buy any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (“the U.S. Securities Act”) or any state securities law and may not be offered or sold in the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.