Mr. John Lee reports

PROPHECY ANNOUNCES $2,030,000 PRIVATE PLACEMENT

Prophecy Resource Corp. has arranged a non-brokered private placement of 4.06 million units at a price of 50 cents per unit to raise aggregate proceeds of $2.03-million. Each unit is composed of one common share and one-half of one share purchase warrant. Each whole share purchase warrant entitles the holder to acquire one additional common share for a period of two years at a price of 60 cents.

A finder's fee of 5 per cent of the proceeds raised, payable in cash, will be paid to Eurasia Capital and Frontier Securities.

Proceeds of the placement will be applied to general working capital.

Prophecy is granting options to certain officers and consultants to purchase up to one million common shares of the capital stock of Prophecy at a price of 54 cents per share until Sept. 21, 2015.

The offering is subject to regulatory approval.