Prairie Mining Ltd. — Capital/Financing Update 2021

Dec 3, 2021

Prairie Mining Limited(PrairieorCompany) is pleased to announce that theCompany has received applications for 4,496,375 Shares at an issue priceof A$0.20 each under the Company's one for ten non-renounceableentitlements issue (Entitlements Issue).Directors, MrIan Middlemas and Mr Mark Pearce, have participated in the EntitlementsIssue and taken up their full entitlement. As previously advised, due toPolish regulations, the Company was not able to extend the EntitlementsIssue to Polish shareholders.However,the Company has received significant interest from potential newinvestors based in the UK and Europe to subscribe for shares in theshortfall.Inaccordance with the terms of the Entitlements Issue, the Directors willexercise their discretion to offer 18,638,892 shortfall shares tonominated parties. In accordance with the ASX Listing Rules theshortfall securities will be allotted within three (3) months from theclosing date of the Entitlements Issue.An applicationwill also be made for admission of the 4,496,375 shares to trading onthe Warsaw Stock Exchange (WSE Admission).Following WSEAdmission, the Company's issued ordinary share capital will be235,851,464 ordinary shares. The above figure of 235,851,464 may be usedby shareholders as the denominator for the calculations by which theycan determine if they are required to notify their interest in, or achange to their interest in, the Company following WSE Admission.The Companywill also issued 10,750,00 unlisted incentive options (IncentiveOptions) to Directors and key staff following shareholder approvalat the Company's Annual General Meeting held on 24 November 2021.