Prophecy Closes Gibellini Vanadium Project Acquisition and Sets Company Priority
Prophecy Closes Gibellini Vanadium Project Acquisition
and Sets Company Priority
Vancouver, British Columbia, June 23, 2017 – Prophecy Development Corp.
(“Prophecy” or the “Company”) ( TSX:PCY, OTCPK:PRPCF, Frankfurt:1P2N) is pleased
to announce that it has successfully acquired the Gibellini vanadium project on lease terms
described in the Company’s news release dated May 8, 2017.
Prophecy is reviewing the Gibellini feasibility study that was prepared for the prior operator,
American Vanadium Corp. (“ AVC”) by AMEC E&C Services, Inc. , with an effective date of
August 31, 2011, in order to bring the project information current. The Company also plans
to try to expedite completion of the Gibellini environmental and mine permitting process es
that were previously started by AVC.
With control of the Gibellini and Titan projects, Prophecy is well -positioned to be come a
leading North American vanadium exploration company. The Company’s objectives for
these two projects are to:
1. provide exposure and leverage to rising vanadium prices by defining and adding
attributable vanadium resources in the ground in politically safe jurisdictions; and
2. build the first vanadium mine in North America by steadily advancing mine
permitting, project financing and construction.
The Company’s Executive Chairman, John Lee, stated: “Believing the resource market to
have bottomed in early 2016, Prophecy is going back to its M&A roots in 2017 by focusing
on acquiring and developing vanadium mining projects in North America in what could be
the Company’s busiest year ever”.
Qualified Persons
The technical contents of this n ews release have been prepared under the supervision of
Christopher M. Kravits, CPG, LPG, General Mining Manager of Prophecy. Mr. Kravits is a
Qualified Person as defined in NI 43-101. Mr. Kravits is a consultant to the Company and is
not independent of the Company since most of his income is derived from the Company.
About Prophecy
Prophecy Development Corp. is a Canadian public company listed on the Toronto Stock
Exchange that is engaged in worldwide mineral and energy exploration and development.
Further information on Prophecy can be found at www.prophecydev.com.
PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD
“JOHN LEE”
Executive Chairman
For more information about Prophecy, please contact Investor Relations:
+1.888.513.6286
www.prophecydev.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Toronto Stock Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain
words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar
expressions, and statements related to matters which are not historical facts, are forward -
looking information within the meaning of applicable securities laws. S uch forward-looking
statements, which reflect management’s expectations regarding Prophecy’s future growth,
results of operations, performance, business prospects and opportunities, are based on
certain factors and assumptions and involve known and unknown risks and uncertainties
which may cause the actual results, performance, or achievements to be materially different
from future results, performance, or achievements expressed or implied by such forward -
looking statements.
These factors should be consider ed carefully, and readers should not place undue reliance
on the Prophecy’s forward -looking statements. Prophecy believes that the expectations
reflected in the forward -looking statements contained in this news release and the
documents incorporated by re ference herein are reasonable, but no assurance can be
given that these expectations will prove to be correct. In addition, although Prophecy has
attempted to identify important factors that could cause actual actions, events or results to
differ material ly from those described in forward looking statements, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended.
Prophecy undertakes no obligation to release publicly any future revisions to forward -
looking statements to reflect events or circumstances after the date of this news or to reflect
the occurrence of unanticipated events, except as expressly required by law.