PROSPECT RESOURCES LIMITED — Capital/Financing Update 2016

Aug 8, 2016

ASX ANNOUNCEMENT

Completion of $1m Placement

Prospect Resources Limited ( ASX: PSC ) (“ Company” ) is pleased to advise that one of the Company’s major shareholders and foundation investors, has subscribed for A$1m in new equity via the subscription of 20m shares at 5c each.

Proceeds of the placement will be used to supplement general working capital.

The Company welcomes the continued support of our major shareholders.

For further information, please contact: Hugh Warner Prospect Resources Executive Chairman Ph: +61 413 621 652

Harry Greaves Prospect Resources Executive Director Ph: +263 772 144 669

Prospect Resources Limited | ACN 124 354 329 Suite 6, 245 Churchill Ave. Subiaco WA 6008 | Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006

W: prospectresources.com.au

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