PROSPECT RESOURCES LIMITED — Capital/Financing Update 2018

Mar 28, 2018

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MARKET RELEASE

29 March 2018

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, 4 April 2018 or when the announcement is released to the market.

Security Code: PSC

Sandra Wutete

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

29 March 2018

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

By Email: tradinghaltsperth@asx.com.au

Dear Madeleine

ASX Code: PSC – Trading Halt Request

Pursuant to Listing Rule 17.1, Prospect Resources Limited (ASX:PSC) ( Company ) requests a trading halt of its securities, pending the release of an announcement in relation to an update to the Sinomine Placement and Framework Agreement, which includes a $10m placement to Sinomine.

The Company requests that the trading halt be effective immediately and remain in place until the earlier of the commencement of normal trading on 4 April 2018, or the release of an announcement by the Company in relation to an update to the Sinomine Placement and Framework Agreement, which includes a $10m placement to Sinomine.

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