Mr. John Lee reports

PROPHECY DEVELOPMENT REPORTS PROGRESS ON PRIVATE PLACEMENT

Prophecy Development Corp. continues to make progress toward the completion of the $3,596,000 non-brokered private placement previously announced on Dec. 8, 2014.

On Feb. 14, 2015, the Toronto Stock Exchange approved the placement subscriber as an insider of the company.

The company will issue a further announcement when the placement closes.

Closing of the placement is subject to the approval of the TSX.

We seek Safe Harbor.