Prophecy Announces Management and Board Changes and Consolidation

Prophecy Announces Management and Board Changes and

Consolidation

Vancouver, British Columbia, February 24 th, 2021, Prophecy Potash Corp. (the “Company”)

(CSE: NUGT) announces that Sean Kingsley has been appointed President and Chief Executive

Officer of the Company. In connection with Mr. Kingsley’s appointment, Mr. Ian McDonald has

resigned as President, Chief Executive Officer a nd as a director of the Company. The Company

wishes to thank Mr. McDonald for his efforts on behalf of the Company and wishes him all the

best in his future endeavours.

The Company is also pleased to announce the appointment of Wes Siemens to the Company’s

board of directors.

Mr. Siemens began his career in 1993 at Canadian Occidental Petroleum Ltd. and held several

technical and management positions over 21 years throughout its evolution to Nexen and CNOOC

Ltd. Senior management and International positions in the company included Operations,

Corporate Planning, Oil Sands, Technical Excellence, and Business Development (Africa and

Middle East). Mr. Siemens was most recently the founder, President and CEO of a private-equity

funded energy exploration company, based in West ern Canada. He has accumulated extensive

experience in M&A, including billions of dollars of transactions. Wes received his Bachelor of

Science Degree in Mechanical Engineering from the University of Alberta and completed an

Executive Leadership Program at Oxford.

Further, the Company's Board of Directors has determined to consolidate the Company’s issued

share capital on a ratio of one (1) new post-consolidated common share for every two (2) old pre-

consolidated common shares (the "Consolidation"). The Company currently has 21,773,399

issued and outstanding common shares and on completion of the Consolidation there is expected

to be 10,886,699 issued and outstanding common shares. The Company does not intend to

change its name at this time. Shareholder approval of the Consolidation is neither required under

the policies of the Canadian Securities Exchange nor under the Articles of the Company.

The Board of Directors determined the Consolidation is necessary in order for the Company to

raise additional capital and seek new business opportunities.

ON BEHALF OF THE BOARD OF DIRECTORS

“Sean Kingsley”

Sean Kingsley

President and Chief Executive Officer

Further information about the Company is available under its profile on the SEDAR website,

www.sedar.com.