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Prospect Resources set to upgrade project economics at Arcadia following significant increase in Ore Reserve

Key Points:

• Ore Reserve increased to 37.4Mt@1.22% Li2O, a 39% increase;

• Contains an estimated 457,000 tonnes of Li2O (1.12Mt of Lithium Carbonate Equivalent) and 10 million pounds (Mlbs) of Ta2O5;

• Upgrade reduces risks associated with grade control and orebody   knowledge, with 30% of the Ore Reserve in the Proved category;

• Increased Life of Mine beyond 15 years based on a 2.4Mtpa   operation; and

• Confirms Arcadia as the 7th largest global hard rock lithium asset
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