PROSPECT RESOURCES LIMITED — Share Issue/Capital Change 2016

Jan 11, 2016

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12 January 2016

Mr Jeremy Newman ASX Limited Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000

By Electronic Lodgement

Issue of Shares – Correction of error

It has come to the attention of Prospect Resources Limited ( Company ) that during the recent allotment of securities undertaken by the Company an administrative error occurred.

This error meant that 1,875,000 shares were not issued to subscribers under the recent Shortfall Offer. As such the Company has today rectified this error and issued these shares. As the time for placing of the shortfall under the recent rights issue (3 months) has now expired, the Company is issuing these shares under its capacity pursuant to ASX Listing Rule 7.1.

For further information, please contact:

Andrew Whitten Company secretary Prospect Resources Limited (Aus) Ph: +61 2 8072 1400

Prospect Resources Limited | ACN 124 354 329

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

Website: prospectresources.com.au | Email: info@prospectresources.com.au