Prophecy Development Corp. provided the following update on its 100% owned Pulacayo silver project located in Bolivia. Further to its news release dated December 18th, 2019, Prophecy reports it has completed the first 3 holes of the planned 17 drill holes at the Pulacayo project. These step-out drill holes are located 25-, 50- and 115 meters west of the existing Pulacayo resource model. The first assay results are expected in late January. Prophecy has also mobilized a second drilling rig to Pulacayo and expects to complete the proposed 5,000 meter drill program in February with full assay results available by March 2020. The remainder step out drill holes are collared up to 2km west from the existing resource model. The Pulacayo deposit currently has a NI43-101 compliant resource of 2.08 million tonnes at Ag 455 g/t, Pb 2.18%, Zn 3.19% in the indicated category. It also has 0.48 million tonnes at Ag 406 g/t, Pb 2.08%, Zn 3.93% in the inferred category. The Company estimates that the amounts of metals of the indicated category are 30.4 million ounces of silver, 100.0 million pounds of lead, and 146.3 million pounds of zinc. The Company estimates that the amounts of metals of the inferred category are 6.3 million ounces of silver, 22.0 million pounds of lead, and 41.6 million pounds of zinc.