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Please vote your proxy for the URSA Major Special Meeting to be held on Wednesday, May 30, 2012. The cut off for proxy voting is 10:00am on Monday, May 28, 2012. The board and management of URSA Major supports the transaction to merge with Prophecy Platinum Ltd. and urges you to vote in favour. For voting help, please contact Alison Tullis at 416-864-0615 or email atullis@ursamajorminerals.com. Your vote is important, please vote now.

Ursa Major Minerals Incorporated (TSX: UMJ) and Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) are pleased to announce that they have signed a definitive agreement in connection with the business combination announced in their joint news release dated March 1, 2012. Prophecy has agreed to issue one common share for each 25 common shares of Ursa held.

Ursa has scheduled an annual and special meeting of its shareholders to be held on May 30, 2012 at which it will seek the shareholder approvals required in connection with the Transaction. It is anticipated that materials for such meeting will be mailed to Ursa shareholders on or about May 7, 2012. Subject to satisfaction of all conditions, completion of the Transaction is expected to occur on or before June 15, 2012.

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 in Yukon Territory, Canada and the Lynn Lake project is located in Manitoba, Canada. Further information can be found at www.prophecyplat.com.

News

Tue May 1, 2012  URSA Major Minerals reports financials for the year ended January 31, 2012; Annual and Special Meeting regarding amalgamation arrangement with Prophecy Platinum to be held on May 30, 2012
Mon Apr 16, 2012  URSA Major Minerals and Prophecy Platinum Sign Definitive Agreement, URSA Shareholder Meeting set for May 30, 2012

Bulletin Board

2012 Q3 Financials | MD&A
2011 Annual Report
URSA Major Fact Sheet
URSA Major Presentation

URSA Major Minerals Incorporated ("URSA Major") is a TSX-listed Canadian public company with a focus on development and exploration of nickel, copper and precious metal deposits. More.

Shakespeare Nickel Mine

The Shakespeare Nickel Mine, located 70 km west of Sudbury produces nickel, copper, cobalt, platinum, palladium, gold and silver. The Mine started commercial production in the second quarter of 2010. The mine is currently under temporary suspension.

Shining Tree Project
URSA Major has a 100% interest in the Shining Tree nickel-copper deposit located 110 km north of Sudbury.

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