PRAIRIE LITHIUM LIMITED — Director's Dealing 2011

Feb 10, 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	30 September 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 relevantinterest.	Dr Eric Vernon Lilford ATF <Dr EVL & CoTrust>
Date of change	Fully paid Ordinary Shares – 9 February2011
No. of securities held prior to change	5,333,333 fully paid ordinary shares5,333,333 unquoted options exercisable at 3cents per share and expiring on 30 September2012
Class	Fully paid Ordinary Shares
Number acquired	2,500,000 fully paid ordinary shares
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 – No considerationpayable as the shares were issued to Dr EricLilford pursuant to the satisfaction of a keyperformance hurdle in relation to theExecutiveServiceAgreementexecutedbetween the Company and Dr Eric Lilford onor about 15 August 2009 – estimatedvaluation based on prevailing market price atthe date of allotment
No. of securities held after change	7,833,333 fully paid ordinary shares
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy-back	Fully paid ordinary shares acquired pursuantto the satisfaction of a key performancehurdle in relation to the Executive ServiceAgreement executed between the Companyand Dr Eric Lilford on or about 15 August2009

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.

01/01/2011 Appendix 3Y Page 3