In developed countries such as Canada, the lifetime risk of prostate cancer is about one in six, with a 30% chance of relapse with bone metastases in each case. Bone involvement not only decreases prognosis, but also increases the likelihood of many other medical ailments. There currently exist numerous treatment options for pain palliation for these patients. Common options include chemotherapy, external beam radiotherapy, bisphosphonates, and radionuclide therapy with strontium 89. Each variation, however, shows clear drawbacks. A type of radionuclide therapy, newly approved in Canada, using alpha particles from radium 223 is showing promise. Unlike the previously mentioned therapies, radium 223 is the only one that excels in all desirable aspects for palliation therapy. Radium 223 not only decreases or eliminates metastases-related bone pain, but also has a great safety profile, increases the average length of survival, and exhibits areas of cost-effectiveness. Radium 223 also delays skeletal-related events and prostate-specific antigen elevation, representing a noteworthy breakthrough for bonetargeted radionuclide therapies.