PROSPECT RESOURCES LIMITED — Share Issue/Capital Change 2014

May 25, 2014

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

26 May 2014

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

By E-Lodgement

Dear Sirs

ASX Code: PSC

The Board of Prospect Resources Limited is pleased to advise that it has resolved to issue and allot the following securities 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:

• 15,000,000 fully paid ordinary shares pursuant to Resolution 2 of the NOM, raising $150,000 for the Company;

• 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.

Following the issue and allotment of securities as outlined above, the capital structure of Prospect Resources Limited is at present:

Description	Number of Securities
Fully paid ordinary shares	604,593,287
Options expiring on 30/06/2015	134,500,000

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

Yours faithfully

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Andrew Whitten Company Secretary