Date: Jul 19, 2018

“We recently did a preliminary economic assessment on our Gibellini Project in Nevada, U.S.A and we had some key findings. Basically some of the numbers projecting over 13.5 year mine life. We anticipate an internal rate of return of 50.8%, a net present value of $338 million. This is using a base case price for vanadium of $12.73.” States Danniel Oosterman, Vice President of Exploration at Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.

Tracy Weslosky: You have had so much news recently, but I think one of the most significant pieces of news is your PEA results. Can you talk to us about that?

Danniel Oosterman: Absolutely. We recently did a preliminary economic assessment on our Gibellini Project in Nevada, U.S.A and we had some key findings. Basically some of the numbers projecting over 13.5 year mine life. We anticipate an internal rate of return of 50.8%, a net present value of $338 million. This is using a base case price for vanadium of $12.73. Today’s price of vanadium is $14.10. If you were to use today’s price for vanadium the internal rate of return actually goes up to 57% and the net present value goes up to $415 million. Keep in mind that our capex or capital expenditure to move the mine into production is only $117 million dollars. That is one-third of the NPV. There are not a lot of projects out there that can boast these sorts of numbers.

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