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PROSPECT RESOURCES LIMITED Capital/Financing Update 2016

May 29, 2016

65617_rns_2016-05-29_f0f4431e-6430-4bba-ac7d-3ec97277361b.pdf

Capital/Financing Update

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MARKET RELEASE

30 May 2016

Prospect Resources Limited

TRADING HALT

The securities of Prospect Resources Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Wednesday, 1 June 2016 or when the announcement is released to the market.

Security Code: PSC

Jill Hewitt

SENIOR ADVISER, LISTINGS COMPLIANCE (PERTH)

Level 40 Central Park 152-158 St Georges Terrace Perth WA 6000

www.asx.com.au Phone:08 9224 0000 Customer service 13 12 79

ASX Compliance Pty Limited ABN 26 087 780 489

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Suite 6, 245 Churchill Ave. Subiaco WA 6008 Phone: +61 8 9217 3300 | Fax: +61 8 9388 3006

30 May 2016

Mauro Piccini Australian Securities Exchange Level 40, Central Park 152-158 St George’s Terrace Perth WA 6000

By Email: [email protected] [email protected]

Dear Sir

ASX Code: PSC – Trading Halt Request

Pursuant to Listing Rule 17.1, Prospect Resources Limited (ASX:PSC) ( the Company ) requests a trading halt of its securities, pending an announcement regarding a completion of a placement. DJ Carmichael Pty Limited is acting as broker on the issue.

The Company requests that the trading halt be effective immediately and remain in place until the earlier of the commencement of normal trading on Wednesday 1 June 2016, or the release of an announcement by the Company in relation to the completion of the placement.

The Company is not aware of any reason why the trading halt should not be granted.

Yours faithfully

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Andrew Whitten Company Secretary