PROSPECT RESOURCES LIMITED — Capital/Financing Update 2021

Oct 26, 2021

Market Announcement

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27 October 2021

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Prospect Resources Limited (ASX: PSC) – Trading Halt

Description

The securities of Prospect Resources Limited (‘PSC’) will be placed in trading halt at the request of PSC, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Friday, 29 October 2021 or when the announcement is released to the market.

Issued by

Raj Logarajah

Adviser, Listings Compliance (Perth)

Market Announcement 1/1 ASX Customer Service Centre 131 279 | asx.com.au

27 October 2021 ASX Limited

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ASX ANNOUNCEMENT

27 October 2021

Raj Logarajah Australia Securities Exchange Level 40, Central Park 152-158 St George’s Terrace Perth WA 6000

By Email: tradinghaltsperth@asx.com.au

Dear Raj,

ASX Code: PSC – Trading Halt Request

Pursuant to ASX Listing Rule 17.1, Prospect Resources Limited (ASX:PSC) ( Company ) requests a trading halt of the Company’s securities effective immediately.

The trading halt is requested pending the release of an ASX announcement regarding a capital raise.

It is anticipated that the trading halt will remain in place until the earlier of the commencement of normal trading on Friday, 29 October 2021 or on the release of the ASX announcement.

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

This release was authorised by Mr Sam Hosack, Managing Director of Prospect Resources Ltd.

For any questions, please contact the undersigned on +61 2 8072 1400.

Yours faithfully

Lee Tamplin

Joint Company Secretary

Prospect Resources Limited ACN 124 354 329 Level 2, 33 Richardson Street. West Perth WA 6005 PO Box 1273, Subiaco, Western Australia 6904 E: info@prospectresources.com.au W: prospectresources.com.au