PROSPECT RESOURCES LIMITED — Share Issue/Capital Change 2014

May 29, 2014

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

30 May 2014

The Manager Company Announcements Australian Securities Exchange Level 5, 20 Bridge Street SYDNEY NSW 2000

By E-Lodgement

Dear Sirs

Cleansing notice under section 708A of the Corporations Act 2001 (Cth)

As announced by the Company on 26 May 2014, pursuant to Resolutions of the Notice of Meeting dated 14 April 2014 ( NOM ), which were all passed by shareholders of the Company at the 2014 Extraordinary General Meeting held at 11am (WST) on 14 May 2014, the Company has issued and allotted the following securities:

• 15,000,000 fully paid ordinary shares pursuant to Resolution 2 of the NOM;

• 42,900,000 fully paid ordinary shares pursuant to Resolution 3 of the NOM;

• 7,500,000 fully paid ordinary shares pursuant to Resolution 4 of the NOM; and

• 9,600,000 fully paid ordinary shares pursuant to Resolution 5 of the NOM.

(collectively referred to as the Shares )

The Company gives this this notice ( Notice ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) and states the following:

1. The Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act.

2. As at the date of this Notice, the Company has compiled with:

   • a. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • b. section 674 of the Corporations Act.

3. As at the date of this Notice, there is no excluded information for the purposes of sections 708A(7) and 708A(8) of the Corporations Act.

For more information, please contact the undersigned on (+61 2) 8072 1400.

Yours faithfully

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Andrew Whitten Company Secretary