Prophecy Resource Corp. has received an updated Technical Report on its 80% owned Titan-Vanadium Property (the "Property") located at Flett and Angus Townships, 120 kilometres northeast of Sudbury, Ontario

The Property is estimated to contain an inferred resource of 49.0 million tonnes at 0.24% vanadium (0.43% vanadium pentoxide), 14.82% titanium dioxide, and 48.09% iron oxide. The estimate uses a 40% Fe2O3 cutoff grade. The results of the independent resource estimate are summarized in the following Table:

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       Mineral Resource Estimate for Titan (at a cut-off of 40% Fe2O3)

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    Resource    Tonnes  V Grade  TiO2 Grade  V Contained* TiO2 Contained*

     Category (millions)  (%)      (%)            Lbs             Tonnes

    Inferred     49.0     0.24    14.82       259,174,729        7,259,310

    * Metal recoveries were assumed to be 100% for both vanadium and

        titanium oxide.

The updated report was completed by Mine Development Associates ("MDA") on February 26, 2010, was prepared in accordance with National Instrument 43-101 ("NI 43-101") Standards of Disclosure for Mineral Projects and provides as update at to ownership of a report completed by MDA for Randsburg International Gold Corp. in 2006 and revised in February, 2007. The resource estimate at Titan is based on 38 drill holes completed between 2004 and 2006, totaling 10,307 metres, that were drilled to depths between 170 metres and 604 metres on a 50 metre grid.

The Titan-Vanadium Property comprises 2,150 hectares and is located within 2.5 kilometres of a high-voltage transmission line and within 8 kilometres of a railroad. Titan-Vanadium is amenable to open pit mining and has an overburden cover between zero and approximately 1.5 metres.

The Titan-Vanadium deposit has the potential to become an important world vanadium supplier. Vanadium constitutes the next wave of car battery technology and is currently valued at approximately USD $29/kg (USD $13/lb).

Mineral resources which are not mineral reserves have not demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.