Prophecy Shareholders Pass All Resolutions at 2015 AGM

Vancouver, British Columbia, June 24, 2015 – Prophecy Development Corp. (“Prophecy” or the “Company”) (TSX:PCY, OTCQX:PRPCF, Frankfurt:1P2) is pleased to announce that all proposed resolutions were approved at the Company’s Annual General Meeting of shareholders held on June 24, 2015 in Vancouver, British Columbia (the “Meeting”). The number of directors was set at five and all director nominees, as listed in the Management Information Circular dated May 11, 2015 (the “Information Circular”), were elected as directors of the Company at the Meeting to serve until the next annual general meeting. According to the proxies received and shares voted in person at the Meeting, the results were as follows:

Notes:
1. (1) There were 16,538,457 non-votes reported by the Scrutineer of the Meeting in respect of the above motion.
2. (2) The percentages reported in this news release are calculated on the votes cast in person and by proxy at the Meeting which total 43,676,003 with respect to the above motion.

Davidson & Company LLP, Chartered Accountants have been appointed as auditors of the Company again, for the ensuing year and the directors have been authorized to fix their remuneration.

An ordinary resolution of the disinterested shareholders of the Company was approved with respect to the issuance of up to 11,476,819 debt settlement units to some of the Company’s directors, officers, employees and consultants at a price of $0.05 per debt settlement unit.

An ordinary resolution of shareholders of the Company was approved with respect to the adoption of a new shareholder rights plan.

A copy of the Company’s shareholder rights plan is available under the Company’s profile on SEDAR at www.SEDAR.com and for viewing by shareholders at the registered and records office of the Company during regular business hours Monday through Friday.

Voting results for all resolutions noted above are reported in the Report on Voting Results as filed under the Company’s SEDAR profile on June 24, 2015.

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:

+1.604.563.0699
+1.888.513.6286
ir@prophecycoal.com
www.prophecydev.com