PRAIRIE LITHIUM LIMITED — Director's Dealing 2011

May 22, 2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity ZYL Limited

ABN 15 008 720 223

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Bevan Tarratt
Date of last notice	27/10/2010

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct Interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Joe Dirt Super Pty Ltd
Date of change	9 May 2011
No. of securities held prior to change	9,538,888 fully paid ordinary shares 1,000,000 unquoted options exercisable at 3 cents per share and expiring on 30 September 2012 2,000,000 unquoted options exercisable at 5 cents per share and expiring on 30 September 2012
Class	Fully paid Ordinary Shares Unquoted Options

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	Nil – capital reconstruction completed by the Company as approved by shareholders on 18 April 2011 and completed on 9 May 2011
Number disposed	Nil – capital reconstruction completed by the Company as approved by shareholders on 18 April 2011 and completed on 9 May 2011
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	4,769,444 fully paid ordinary shares 500,000 unquoted options exercisable at 6 cents per share and expiring on 30 September 2012 1,000,000 unquoted options exercisable at 10 cents per share and expiring on 30 September 2012
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Capital reconstruction completed by the Company as approved by shareholders on 18 April 2011 and completed on 9 May 2011

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 3

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