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 30/9/2001.

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	Eric Lilford
Date of last notice	30/09/2010

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.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	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	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
	securtes ed ater cange		7,833,333 fully paid ordinary shares
			5,333,333 unquoted options exercisable at 3cents per share and expiring on 30 September
			2012
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back			Fully paid ordinary shares acquired pursuantt th tifti f k f
	es under dividend reinvestment plan, participation in buy-bac	k	o e sasacon o a ey perormancehurdle in relation to the Executive ServiceAreement executed between the Coman
			g pyand 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.

Deta	il of contract	N/A
Natu	re of interest	N/A
Nam(if is	e of registered holder	N/A
	sued securities)
Date	of change	N/A
No.whicchanNote: Dto whic	and class of securities toh interest related prior to	N/A
	geetails are only required for a contract in relationh the interest has changed
Inter	est acquired	N/A
Interest disposed	est disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation		N/A
Interest after change		N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002