Prospect Resources Ltd: Presentation - Developing Africa's Largest Lithium Project

Perth - Prospect Resources Ltd. (ASX:PSC) is pleased to provide the company's latest presentation held in November 2016.

Corporate Snapshot

Prospect Resources Ltd. (ASX:PSC) - Advanced lithium and gold company focused on rapid expansion of Lithium JORC Resources at the Arcadia Lithium Project in Zimbabwe

- Arcadia is now largest JORC Lithium Resource in Africa

- Top 10 Lithium Projects in the World

- Experienced Board & Management

Operating in Zimbabwe / Southern Africa

- Zimbabwe is open to foreign investment

- Arcadia Project reflects the strategic importance of Zimbabwe's growing mining industry, potential to be largest lithium mine in Africa

- Zimbabwe is already the largest lithium producer on the African continent through the Bikita Mine

- Zimbabwe is an English speaking country with one of the highest rates of literacy in Southern Africa

Project Summary - Africa's largest Lithium Deposit

Arcadia Lithium Project - Key Value Driver

- Geology - Deposit contains spodumene and petalite in flat lying, stacked pegmatites hosted in meta-basalts of the Arcturus Formation within Harare Greenstone Belt

- Metallurgy - Three dedicated holes processed confirming 6.5% spodumene

- Maiden JORC Resource Estimate -

-- 36Mt at 1.17% Li20 (425,000t contained Li20),

-- includes 31Mt at 1.22% Li20 (Measured, Indicated, Inferred)

-- including 12Mt at 1.47% above 1% Li20 (Measured, Indicated, Inferred)

- Exploration Target - 80-100Mt at 1.1-1.4% Li20

Arcadia Lithium Project Overview

- ~35km east northeast of Harare, Zimbabwe

- Maiden JORC Resource Estimate of 31Mt at 1.22% & 12Mt at 1.47% Li20 (above 1%)

- Testwork confirms ability to produce 6.5% spodumene conc.

- Excellent potential to expand high grade resource along strike and at depth

- Less than 20% of mining license has been drilled, open along strike and down dip

Gwanda East Gold Project

Prospect plans to ramp up gold production at Gwanda East in 2017

- First gold production at Gwanda East announced in April 2016

- Shaft sinking & undeeground development ongoing

- Diamond drilling of high grade, narrow veins at Preston West A returned 71.6g/t Au over 30cm or 21.2g/t Au over 105cm

- Diamond drilling at Bucks West intersected lO.lg/t Au over 95cm and 5.1g/t Au over 41cm

- Focus is on Arcadia, development at Gwanda East has slowed

Summary

Developing the High Grade Arcadia Lithium Project

- Prospect Resources is well placed to rapidly expand the JORC resource base at Arcadia with $16m in cash

- Five drill rigs are onsite aiming to prove up a mineable resource at Arcadia

- The deposit remains open down dip and along strike, further assays are pending

- Experienced Directors and Management to drive value in line with expectations

- Early production focussed management team

- Arcadia is already the largest JORC lithium Resource in Africa and is covered by granted mining licenses

- Options signed over God's Gift Lithium Project, Fimpima West Cobalt Project

- Additional lithium and cobalt opportunities being reviewed in Zimbabwe, Zambia and DRC

To view the presentation, please visit:
http://abnnewswire.net/lnk/I6U9Z875


About Prospect Resources Ltd:

Prospect Resources Ltd. (ASX:PSC) is based in Australasia with operations in Zimbabwe and is a publicly listed company. We are committed to creating value for Prospect's shareholders and the communities in which our company operates. Our vision is to build a Southern African based mining company of international scale.



Contact:

Prospect Resources Ltd.
Hugh Warner Executive Chairman
T: +61-8-9217-3300

Prospect Resources Ltd.
Harry Greaves Executive Director
T: +263-772-144-669
www.prospectresources.com.au