EXCITE TECHNOLOGY SERVICES LTD — Major Shareholding Notification 2012

Feb 20, 2012

PRIME MINERALS LIMITED

Level 1, 8 Parliament Place, West Perth WA 6005

PO Box 1618 West Perth WA 6872

Telephone: +61 8 9481 7833 Facsimile: +61 8 9481 7835

21 February 2012

The Manager Company Announcements Office Australian Securities Exchange Limited Level 4, Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear Sir,

Notice of Initial Substantial Holder.

We have attached a Form 603 notice received by the Company today.

Yours faithfully David Zukerman Company Secretary Prime Minerals Limited

Form 603 Corporations Act 2001
Section 671B

Notice of initial substantial holder

To: Company Name/Scheme	Prime Minerals Ltd
ACN	61 120 656 497
1. Details of substantial holder (1) Name	Mr Jason Peterson
ACN/ARSN (if applicable)	na
The holder became a substantial holder on	2012 Jan я

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4) ---------------------------------------	Number of securities	Person's votes (5)	Voting power (6)
Ordinary fully paid (O.F.P.)	18,001 280	18,001,260	5.35%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
JP Morgan	Direct	10,402,540
Cellic Capital Pty Ltd	Direct	1,198,720 .

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holders of relevant Imprest	Registered holder of Securities	Person antitled to be registered as a holder	Class and number of securities
JP Morgan	JP Morgan	Mr. Jeaon Peterson	10,802,540
Cellic Capital Ptr Ltd	Cettle Capital Pty Ltd	Mr Jeaco Paterson	7.198.720

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four month s prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant Interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
JP Morgen	9/1/2012	\$135,031		O.F.P 10.002.540
Collic Capital Pie Etd	9/1/2012	\$19,964		OFP7.100.720

holder

The reasons the person named in paragraph 3 above and associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
JP Morgan < Cash Income A/C>	Beneficial Holder
Cettle Capital Pty Ltd <the alex<="" capital="" cettle="" td="">	Shareholder and Director	Shareholder and Director

7. Addresses

The addresses of persons named in this form are as follows:

	ACCT68 alo Po Baz 25467, St Georges Tae, Porth WA 0831
44

Signature