PRAIRIE LITHIUM LIMITED — Board/Management Information 2012

Feb 14, 2012

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ASX RELEASE 15 February 2012

ZYL STRENGTHENS SOUTH AFRICAN GEOLOGICAL TEAM

• South African-based geological team appointed to supervise Mbila and Kangwane projects

• Datamatrix appointed to manage geological database

ZYL Limited (“ ZYL ” or the “ Company ”) ( ASX: ZYL ), the Perth-based emerging coal producer with two key projects in South Africa, is pleased to announce the strengthening of its South African geological team. The new team, consisting of a project manager and two geologists, will focus on progressing the company’s Mbila and Kangwane projects to production.

Mr Brian Roberts (B. Eng) has been appointed Project Manager of the Mbila Project, located in KwaZulu-Natal province. Mr Roberts, a mining engineer, has 30 years’ experience in the coal sector, including 10 years with Anglo Coal, South Africa and nine years with Total Coal South Africa, where he held the position of Project Mining Engineer. Mr Roberts has worked in both opencast and underground mining environments. His experience includes mine and associated engineering infrastructure design and construction.

Mrs Liz de Klerk was previously the principal geologist for Mbila Resources and will join ZYL to oversee the advancement of both the Mbila and Kangwane projects. Mrs de Klerk is a member of the Council of the Geological Society of South Africa and the British Geological Society, and has been managing exploration projects, primarily in the coal sector, for the last six years. As Principal Geologist, she will be responsible for exploration programmes, database and tenement management and geological modelling.

Mr Yanela Mputa has joined ZYL to assist Mrs de Klerk in all aspects of the geological management of the two projects. Mr Mputa joins the ZYL team from the Coal Division of Caracal Creek International Consulting where he was a junior project manager; his past experience includes liaising with land owners regarding land access, water use and rehabilitation, managing and supervising drilling processes and seam identification.

ZYL has also engaged Datamatrix to maintain the company’s coal database and associated geological data for both the Mbila and Kangwane projects. Datamatrix specialises in the exploration and mining sectors; other major clients include BHP Billiton, SRK Consulting – Coal Division, and Eurasian Natural Resources Corporation.

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Corporate Office: Level 8, 225 St Georges Terrace, Perth 6000,Western Australia Tel: +61 8 9486 4036 Email: info@zyllimited.com.au PO Box 7653, Cloisters Square, Perth 6850, Western Australia Fax: +61 8 9486 4799 Web: www.zyllimited.com.au

Commenting on the appointments, Chairman Bevan Tarratt said: “These additions to ZYL’s South African team provide the company with valuable in-country geological experience, allowing the directors to focus on developing ZYL into a leading anthracite producer.”

Dr Eric Lilford, who is based in Perth, Australia, has moved from Managing Director to become a non-executive director of the Company. The move reflects ZYL’s decision to base most of its staff close to its South African projects. Dr Lilford will continue to provide the Board with his knowledge and expertise, and the Board would like to thank him for his contribution to the Company as Managing Director.

Contact:

Phillipe Lalieu, Commercial Director, ZYL LIMITED

T: +27 (0) 11 245 9800 M: +27 (0) 83 455 6867

E: plalieu@zyllimited.com.au

Media - South Africa

James Duncan, Russell and Associates T: +27 (0) 11 880 3924 M: +28 (0) 82 892 8052 E: james@rair.co.za

Media - Australia

Annette Ellis, Purple Communications T: +61 (0) 8 6314 6300 M: +61 (0) 45 820 039 E: aellis@purplecom.com.au

About ZYL Limited

ZYL Limited is listed on the Australian Securities Exchange (ASX) and aims to become one of the world’s leading anthracite coal producers. The mission of ZYL is to develop high-margin metallurgical coal deposits for domestic and export markets. Flagship projects are the Mbila and Kangwane projects in South Africa, located close to rail, port, power and water infrastructure.

Important information

The information in this announcement is an overview and does not contain all information necessary to make an investment decision. To the extent permitted by law, no representation or warranty, express or implied, is made as to the accuracy, adequacy or reliability of any statements, estimates or opinions or other information contained in this announcement, any of which may change without notice. This document is not a prospectus, disclosure document or offering document under Australian law or under any other law. It does not constitute an offer or invitation to apply for securities. It is for information purposes only. This announcement is not an offer of securities for subscription or sale in the United States or any other jurisdiction in which such an offer or solicitation is not authorised or to any other person to whom it is unlawful to make such an offer or solicitation. Some of the information contained in this announcement constitutes forward-looking statements that are subject to various risks and uncertainties, not all of which may be disclosed. These statements discuss future objectives or expectations concerning results of operations or financial condition or provide other forward-looking information.

Prospective investors should make their own independent evaluation of an investment in the securities. The material contained in this document does not take into account the investment objectives, financial situation or particular needs of any particular investor. No recommendation to investors regarding the suitability of the securities has been made and the recipient must make its own assessment and/or seek independent advice on financial, legal, tax and other matters, including the merits and risk involved. This announcement and its contents have been distributed to you, in confidence, solely for your information and may not be retransmitted or otherwise reproduced or disclosed to third parties or made public in any way, in whole or in part, for any purpose without written permission.

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