Prophecy Resources has announced that Leighton Asia, with
which it has a mine services agreement, has established on schedule the
required infrastructure and deployed all necessary equipment and manpower to
execute long term mining operations at Prophecy”s 100% owned Ulaan Ovoo Coal Project,
Northern Mongolia. Ulaan Ovoo site establishment commenced on July 13, 2010 to
ensure that the commissioning of the 250,000-ton starter pit will take place this
month, as planned, with 57,500 tons in the first month ramping up to 100,000
tons per month by December 2010. Altogether 49 Mongolians were employed in the
work.