PROSPECT RESOURCES LIMITED — Director's Dealing 2010

Nov 23, 2010

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

	Initial Director’s Interest Notice
Name of entity	ETHAN MINERALS LIMITED
ABN	30 124 354 329

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	DOUGLAS (BILL) O’NEILL
Date of appointment	13 OCTOBER 2010

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

Number & class of securities

10,000 FULLY PAID ORDINARY SHARES

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature	Name of holder & nature	Name of holder & nature	Number & class of Securities
of interest
HOLESMORE	PTY LTD		10,000 FULLY PAID ORDINARY
(of which the	Director is a		SHARES
director and shareholder)
PRECINCT EIGHT PTY			250,000 FULLY PAID ORDINARY
LTD(who	holds	the	SHARES, escrowed until 31 December,
securitieson	trust	for	2011
Holesmore Pty	Limited
			1,000,000UNLISTEDOPTIONS
			EXERCISABLE AT $0.23 EXPIRING
			31 December 2011.

Part 3 – Director’s interests in contracts

Detail of contract Nature of interest

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Name of registered holder (if issued securities) No. and class of securities to which interest relates

Rule 3.19A.1

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002