Prairie Mining Ltd. — Capital/Financing Update 2021

Oct 28, 2021

FollowingBrexit related transition issues for registration of overseas auditors,Prairie will release unaudited Preliminary 2021 Results in PolandAudited2021 Annual Report to be released in Poland once EY Australia registeredin PolandAsa consequence, entitlements to the current Entitlements Issue are nolonger able to be offered to Poland shareholdersIssueprice for the Entitlements Issue has been amended to $0.20 (£0.11/€0.13)per shareReleaseof Unaudited Preliminary Results in PolandFollowingthe United Kingdom leaving the European Union (EU), it has becomenecessary for any audit firm reporting on a company listed on a Europeanregulated exchange to be approved by that relevant EU competentauthority.AsPrairie Mining Limited (PrairieorCompany) isincorporated in Australia with a tri-listing on the ASX, LSE and theWarsaw Stock Exchange (WSE), which is an EU regulated market, itsauditor, EY Australia (EY), is required to be approved by thePolska Agencja Nadzoru Audytowego (PANA) as a third countryauditor. EY submitted its original application for registration in late2019 which despite regular attempts to follow up and progress theapplication, the Polish authorities did not respond to. EY hassubsequently submitted a new application in October 2021 but has yet toreceive a response or approval of its registration as a third countryauditor recognised by the WSE.Accordingto Article 205 sec. 3 of the Polish Act of 11 May 2017 on StatutoryAuditors, Auditors Firms and Public Oversight an opinion of anindependent statutory auditor prepared by an auditor from a thirdcountry that has not been registered on the list of auditors from thethird countries kept by PANA has no legal status in Poland.