Prophecy Coal Corp. announced that Mr. John Lee has transitioned from his role as Chief Executive Officer of the Company to Executive Chairman of the Board of Directors 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 Mongolia.

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.