Prophecy Voluntarily Delists from OTCQX

Vancouver, British Columbia, January 29, 2016 – Prophecy Development Corp. (“Prophecy” or the “Company”) (TSX:PCY, OTCQX:PRPCF, Frankfurt:1P2) announces that after a detailed review of the trading volume, costs and administrative requirements related to maintaining the Company’s listing on the OTCQX International, it has voluntarily delisted its Common shares from the OTCQX International effective today. Prophecy’s Common shares continue to be listed on the Toronto Stock Exchange and the Frankfurt Exchange.

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@prophecydev.com
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.