PROSPECT RESOURCES LIMITED — AGM Information 2010

Dec 7, 2010

Ethan Minerals Limited

Annual General Meeting

2010

Disclaimer

• This presentation contains only a brief overview of Ethan Minerals and its associated entities ("Ethan") and their respective activities and operations. The contents of this presentation, including matters relating to the geology of Ethan's projects, may rely on various assumptions and subjective interpretations which it is not possible to detail in this presentation and which have not been subject to any independent verification.
• Known and unknown risks and uncertainties, and factors outside of Ethan's control, may cause the actual results, performance and achievements of Ethan to differ materially from those expressed or implied in this presentation.
• To the maximum extent permitted by law, Ethan does not warrant the accuracy, currency or completeness of the information in this presentation, nor the future performance of Ethan, and will not be responsible for any loss or damage arising from the use of the information.
• The information contained in this presentation is not a substitute for detailed investigation or analysis of any particular issue. Current and potential investors and shareholders should seek independent advice before making any investment decision in regard to Ethan or its activities.
• Information in this report pertaining to mineral resources and exploration results was compiled by Mr MP Sullivan who is a member of Aus.I.M.M. Mr Sullivan has sufficient experience which is relevant to the style of mineralisation and the type of deposit that is under consideration and to the activity that 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 Sullivan consents to the inclusion in the report of the matters based on his information in the form and context in which is appears.

• Initial drilling completed at Mary Springs
• Resource upgrade at Mary Springs
• Project assessment and acquisition in Indonesia
• Project assessment and acquisition in Zambia
• Maiden manganese ore shipment

Indonesia

• Projects assessed
  • Sangihe Island (iron sands) Sulawesi
  • Gold Tiger (gold) Central Kalimantan
  • Gunung Mas (gold) Central Kalimantan
  • Cariu (gold) West Java

Gold Tiger

Gold Tiger

Cariu