Prophecy Coal Announces Executive Chairman Appointment and Director Resignation

Prophecy Coal Announces Executive Chairman Appointment and Director Resignation 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/25/13 -- Prophecy
Coal Corp. ("Prophecy Coal" or the "Company")
(TSX:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) is pleased to announce that Mr.
John Lee has transitioned from his role as Chief Executive Officer
("CEO") of the Company to Executive Chairman of the Board of
Directors (the "Board") of the Company. 
The Board has determined that the Company has reached a critical
stage and now requires Mr. Lee to focus his time and attention on
negotiating the major government and joint venture agreements for the
development of the Company's Chandgana power plant project in
To complement Mr. Lee in his role as Executive Chairman of the Board,
the Company has initiated a search for a new CEO to carry out
day-to-day management responsibilities as the Company transitions
into a true developer of coal powered electrical generation. Mr. Lee
will serve as Interim CEO until a new candidate has been identified
and appointed. 
Prophecy Coal also announces the resignation of Mr. Jivko Savov as a
director of the Company. In light of recent increases to his
responsibilities as Director of Global Business Development, M&A and
Retail for Gazprom in London, Mr. Savov has decided to focus his
attention on his position with Gazprom. As such, Mr. Savov considered
that it would be best for him to step down from the Board. However,
Mr. Savov will continue to assist Prophecy in its business
development as an advisor. The Board wishes to thank Mr. Savov for
his contribution to the Company to date and looks forward to Mr.
Savov working with the Company in the future in an advisory capacity. 
About Prophecy Coal 
Prophecy Coal Corp. is a Canadian listed company engaged in
developing energy projects in Mongolia. The Company's wholly-owned
subsidiary, Prophecy Power Generation LLC ("Prophecy Power"), is
advancing plans for a proposed 600 MW coal mine-mouth power plant,
which has been permitted by the Mongolian government, adjacent to its
Chandgana coal deposit. Chandgana Coal LLC, another wholly-owned
Mongolian subsidiary of Prophecy Coal, is expected to supply 3.5
million tonnes of coal per year to Prophecy Power for 25 years.
Chandgana Coal LLC controls over 1.2 billion tonnes of thermal coal
in the measured and indicated categories, including two mining
licenses containing 141 million tonnes of measured resource with a
strip ratio of 0.7:1. Substantially all of the Company's resources
are not mineral reserves, hence they do not have demonstrated
economic viability. The Company cautions that the Chandgana project
is in Mongolia and requires substantial capital to develop. 
Further information on the Company can be found at 
The technical contents of this news release have been reviewed and
approved by Christopher M. Kravits, P.Geo., who is a Qualified Person
as defined in National Instrument 43-101 Standards of Disclosure for
Mineral Projects. Mr. Kravits has 34 years of US and international
relevant coal geology experience. He has been active in Mongolia
since 2007. 
JOHN LEE, Interim CEO/Executive Chairman of the Board 
(i)Mineral resources that are not mineral reserves do not have
demonstrated economic viability.  
Forward Looking Statements: This news release includes certain
"forward-looking statements" and "forward looking information" as
defined under applicable securities regulatory authorities in Canada
(collectively, the "forward-looking statements"). All statements in
this release, other than statements of historical fact, including,
without limitation, statements of potential mineralization, the
estimation of mineral resources, the realization of mineral resource
estimates, interpretation of prior exploration and potential
exploration results, the timing and success of exploration activities
generally, the timing and results of future resource estimates,
permitting time lines, metal prices and currency exchange rates,
availability of capital, government regulation of exploration
operations, environmental risks, reclamation, title, and future plans
and objectives of the Company are forward-looking statements that
involve various risks and uncertainties. Although Prophecy Coal
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the forward-looking
statements. Forward-looking statements are based on a number of
material factors and assumptions. Factors that could cause actual
results to differ materially from those in forward-looking statements
include unsuccessful exploration results, changes in project
parameters as plans continue to be refined, results of future
resource estimates, future metal prices, availability of capital and
financing on acceptable terms, general economic, market or business
conditions, risks associated with operating in foreign jurisdictions,
uninsured risks, regulatory changes, defects in title, availability
of personnel, materials and equipment on a timely basis, accidents or
equipment breakdowns, delays in receiving government approvals,
unanticipated environmental impacts on operations and costs to remedy
same, and other exploration or other risks detailed herein and from
time to time in the filings made by the Company with securities
Assumptions underlying the Company's expectations regarding
forward-looking statements contained in this news release include,
among others, that all required third party contractual, regulatory
and governmental approvals will ultimately be obtained for the
development, construction and production of the Company's properties,
there being no significant disruptions affecting operations,
including labour disruptions, currency exchange rates being
approximately consistent with current levels, certain price
assumptions for coal, prices for and availability of fuel, parts and
equipment and other key supplies remaining consistent with current
levels, production forecasts meeting expectations, the accuracy of
the Company's current mineral resource and reserve estimates, labour
and material costs increasing on a basis consistent with the
Company's current expectations and that any additional required
financing will be available on reasonable terms. Readers are
cautioned that mineral resources that are not mineral reserves do not
have demonstrated economic viability. Mineral exploration and
development of mines is an inherently risky business. Accordingly,
the actual events may differ materially from those projected in the
forward-looking statements. The Company disclaims any obligation
subsequently to revise any forward-looking statements to reflect
events or circumstances after the date of such statements or to
reflect changes in assumptions or the occurrence of anticipated or
unanticipated events, except as required by law. For more information
on Prophecy Coal and its wholly-owned subsidiaries and the risks and
challenges of their businesses, investors should review their annual
filings that are available at 
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. 
Prophecy Coal Corp.
Chris Ackerman
Manager, Investor Relations
Press spacebar to pause and continue. Press esc to stop.