Prophecy Development Corp. Files Technical Report for Mineral Resource Estimate at Pulacayo Silver-Zinc-Lead Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 31, 2015) - Prophecy Development Corp. ("Prophecy" or the "Company") (TSX:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) is pleased to announce that it has filed a technical report prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101") related to an independent mineral resource estimate for the Company's Pulacayo silver-zinc-lead project, that was prepared in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves referenced in NI 43-101 and announced in its press release issued on June 18^th, 2015. The Pulacayo deposit is located in Bolivia, 107km northeast of Sumitomo Corporation's San Cristobal silver mine, 185km southwest of Coeur Mining, Inc.'s San Bartolome silver mine, and 139km north of Pan American Silver Corp.'s San Vicente silver mine.

The technical report and mineral resource estimate were prepared by Mercator Geological Services Limited ("Mercator") under supervision of Michael Cullen, P.Geo., who is an independent Qualified Person under NI 43-101, and has an effective date of June 16, 2015. Results of the mineral resource estimate prepared by Mercator for the Pulacayo project are presented below in Table 1. The technical report describing the resource estimate and prepared in accordance with NI 43-101 has been filed by the Company on the System for Electronic Document Analysis and Retrieval (SEDAR). There have been no changes to the mineral resource estimate since its disclosure by press release on June 18^th, 2015.

Table 1: Pulacayo Indicated and Inferred Mineral Resource Statement Details

Pulacayo Mineral Resource Statement - Effective June 16, 2015
Ag Eq. Cut-Off (g/t)	Category	Tonnes**	Ag (g/t)	Pb (%)	Zn (%)	Ag Eq. (g/t)
400	Indicated	2,080,000	455	2.18	3.19	594
	Inferred	480,000	406	2.08	3.93	572
500*	Indicated	1,270,000	530	2.51	3.63	688
	Inferred	350,000	419	2.47	4.58	620
600	Indicated	750,000	608	2.91	4.02	785
	Inferred	170,000	394	3.49	6.75	710

Notes: