Prophecy Consolidates 100% of Titan Vanadium Project
Prophecy Consolidates 100% of Titan Vanadium Project
Vancouver, British Columbia, February 10, 2017 – Prophecy Development Corp.
(“Prophecy” or the “Company”) (TSX:PCY, OTCPK:PRPCF, Frankfurt:1P2N) is pleased
to announce that it has successfully closed the acquisition of the remaining 20% title
interest of Randsburg International Gold Corp. (“ Randsburg”) in the patented claims that
comprise the Titan vanadium-titanium-iron project (“Titan”) in Ontario, Canada on the terms
described in the Company’s news release dated January 27, 2017 (the “Acquisition”).
Prior to the Acquisition, Prophecy owned the other 80% title interest in Titan.
As consideration, the Company issued to the parties designated by Randsburg, a total of
20,000 Common shares (the “Consideration Shares”) in the capital of the Company. The
Consideration Shares are subject to a 4-month hold period. C losing of the Acquisition will
be subject to the final approval of the Toronto Stock Exchange.
Prophecy is encouraged by recent news regarding vanadium car battery development and
rising metal price trends whereby vanadium prices have doubled in the last 12 months. The
Company intends to announce project development plans for Titan in due course.
About Titan
A Technical Report prepared by Mine Development Associates dated February 26, 2010
(available at www.sedar.com and www.Prophecydev.com) disclosed in compliance with
National Instrument 43 -101, Standards of Disclosure for Mineral Projects (“NI 43-101”) an
inferred resource for the Titan project:
Resource
Category Tonnes (t)* Fe2O3 (%)** V (%) ** TiO2 (%)**
Inferred 49.0 million 48.09 0.24 14.82
V converted to V2O5: 0.24 % V = 0.43% V2O5
The Company estimates vanadium content at 259 million lbs and titanium dioxide content at
7,259 million kgs.
* Based on resource estimated at cutoff grade of 40% Fe2O3.
** 100% metals recovery is assumed.
The Technical Report is authored by Neil Prenn, P. Eng, who was an independent Qualified
Person under NI 43-101 at the time the report was prepared.
The Technical Report can be downloaded from:
http://www.prophecydev.com/pdf/titan_feb2010.pdf
About Prophecy
Prophecy Development Corp. is a Canadian public company listed on the Toronto Stock
Exchange that is engaged in developing mining and energy projects in Mongolia , Bolivia
and Canada. 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 th e 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. Such 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 unkn own 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 cons idered 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 b y reference 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 mate rially 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 forw ard-
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.