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Arcadia Lithium Project identified as a priority project by New Zimbabwe Government under its Rapid Results Initiative

Prospect Resources Ltd (ASX:PSC) (the "Company") is pleased to announce that the Company's Arcadia Lithium Deposit has been identified as a priority mining development project by the Office of the President and Cabinet of Zimbabwe.

By way of background, the Ministry of Mines and Mining Development has been tasked to identify certain projects to be implemented under the new Zimbabwe Government's first 100 days programme using the Rapid Results Initiative.

The Company's Arcadia Lithium project has been identified as one of those key projects within Zimbabwe that can help turnaround the economy.

The board is encouraged by the strong support being offered by the Government of Zimbabwe to fast track Arcadia. Prospect will be represented by members of the Zimbabwe and Australian team at the Mining Indaba Conference in Capetown, where we look forward to promoting Prospect Resources and its Arcadia Lithium Deposit. We will also be working in conjunction with the Zimbabwe Ministry of Mines and Mining Development to highlight the new business friendly environment of Zimbabwe.

About Prospect Resources Ltd

Prospect Resources Limited (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.



Hugh Warner
Prospect Resources Ltd
Executive Chairman
T: +61-413-621-652

Harry Greaves
Prospect Resources Ltd
Executive Director
T: +263-772-144-669

Link: New Zimbabwe Government gives Priority Status to Arcadia

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