Prophecy Provides Update on Titan and Gibellini Vanadium Projects

Prophecy Development (“Prophecy” or the “Company”) (TSX:PCY, OTCPK:PRPCF, Frankfurt:1P2N) is pleased to provide the following updates on its vanadium projects:

Titan

The Titan vanadium-titanium-iron project (“Titan”) is located in eastern Ontario, approximately 120km east-northeast of Sudbury. The property is located in close proximity to necessary infrastructure such as 8km from a railway station, 18km from a highway, 2.5km from a major transmission line, and 25km from a natural gas pipeline.

The Company estimates vanadium content at 259 million lbs and titanium dioxide content at 7,259 million kgs.

John Lee, Executive Chairman of Prophecy, said:

“We are highly encouraged by what we witnessed at the university laboratory, which is a five-story building dedicated to metallurgical engineering and excellence.

While black shale vanadium projects are relatively rare in North America, there have been a number of such projects in commercial production in China – some with production throughput double or triple of that proposed for Gibellini in the AMEC E&C feasibility study.

From this visit and discussion with experts specialized in vanadium recovery from black shale, we believe there are a number of areas to improve on the feasibility study that would increase metals recovery, lower capital expenditures, and lower operating cost.”

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