Prairie Mining Ltd. — Regulatory Filings 2007

Dec 12, 2007

ASX RELEASE

13 December 2007

==> picture [559 x 88] intentionally omitted <==

Delayed Resource Update

The resource update planned for December has been unavoidably delayed and will not be available for several weeks. The delay is a result of technical issues, in particular the lack of assay data for drill holes that lie within the resource.

A benefit to this delay will be incorporation of many more assay results which will become available over the next few weeks.

Drilling over the past few days has been directed at targets generated by the geological modeling process, which is a prelude to resource calculation. The reported results are very good – this is a pleasing end to the 2007 drilling campaign and bodes well for ongoing drilling in 2008.

Mark Hansen Managing Director

For further information contact: Elissa Samuel Investor Relations Manager esamuel@prairiedownsmetals.com.au

Information in this report that relates to Exploration Results or Mineral Resources is based on information compiled by Mr Mark Hansen, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Hansen has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Hansen consents to the inclusion in this report of the statements based on his information in the form and context in which it appears.

Page 1 of 1