Prophecy Submits Nevada State Mine Operating Permit Applications for Gibellini Vanadium Project

Prophecy Development Corp. (“Prophecy” or the “Company”) (TSX:PCY)(OTCQX:PRPCF)(Frankfurt:1P2N) is pleased to announce that it has submitted, through its wholly owned US subsidiary Nevada Vanadium, the applications and Engineering Design Reports (EDRs) for the primary mining permits that govern project construction, operations and closure for its Gibellini Vanadium Project located in Eureka County, Nevada, USA to the Nevada Division of Environmental Protection (NDEP) with copies provided to the Bureau of Land Management (BLM) and the Gibellini Project Environmental Impact Statement (EIS) contractor SWCA.

The permit applications submitted on October 31, 2019 were for the Water Pollution Control Permit and the Class II Air Quality Permit. These Nevada state permits have been developed to provide construction level engineering that supports the mine plan previously submitted to the BLM in the Plan of Operations. Comments received from both the BLM and SWCA were used as guidance in the engineering design to ensure the State and Federal Permits are aligned and reflect the most current guidance provided by both the NDEP and BLM.

Mining in Nevada is regulated under the authority of the Nevada Revised Statutes (NRS) 445A.300-NRS 445A.730 and the Nevada Administrative Code (NAC) 445A.350-NAC 445A.447. Water Pollution Control Permits (WPCP) are issued to an operator prior to the construction of any mining, milling, or other beneficiation process activity. Facilities utilizing chemicals for processing ores are required to meet a zero-discharge performance standard such that Waters of the State will not be degraded.

The engineering design for heap leaching, the processing facility, and the mine design (M3 Engineering and Newfields Companies, LLC) was integrated into to the site Closure Plan that was also submitted as part of the WPCP application. This design will facilitate concurrent closure of the heap as each heap cell is finished leaching. This will allow the Closure Plan to be initiated during operations. At the end of active mining, the site can be closed at minimal technical risk. This reduces the closure duration and liability and the commensurate reclamation bond.