PRAIRIE LITHIUM LIMITED — Director's Dealing 2011

Feb 21, 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 30/09/01 Amended 01/01/11

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	Dr Eric Lilford
Date of last notice	10 February 2011

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	Dr Eric Vernon Lilford ATF <Dr EVL & Co
(including registered holder)	Trust>
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	Fully paid Ordinary Shares – 21 February
	2011
	Unlisted Options – 21 February 2011
No. of securities held prior to change	7,833,333 fully paid ordinary shares
Class	Fully paid Ordinary Shares
	Unlisted Options
Number acquired	5,333,333 fully paid ordinary shares
	5,000,000 Unlisted Options – 3 cent exercise
	price – expiry date of 21/02/2013
Number disposed	Nil

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Fully paid ordinary shares – 3 cents per share– exercise of unlisted optionsUnlisted Options – nil consideration, issuedpursuant to the satisfaction of a keyperformance hurdle in relation to theExecutive Service Agreement executed on 15August 2010
No. of securities held after change	13,166,666 fully paid ordinary shares5,000,000 unlisted options, 3 cents exerciseprice and an expiry date of 21/02/2013
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Shares acquired as a result of the exercise ofunlisted options with a 3 cent exercise priceUnlisted Options acquired pursuant to thesatisfaction of a key performance hurdle inrelation to the Executive Service Agreementexecuted between the Company and Dr EricLilford on or about 15 August 2010

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
Date of change	N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	N/A
**Interest after change **	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	Yes
If so, was prior written clearance provided to allow the tradeto proceed during this period?	Yes
If prior written clearance was provided, on what date was thisprovided?	28 January 2011

• See chapter 19 for defined terms.

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