Dispatch Of Documents for Entitlements Issue

PRAIRIE MINING LIMITED

NEWS RELEASE | 10 November 2021

DISPATCH OF DOCUMENTS FOR ENTITLEMENTS ISSUE

Prairie Mining Limited (Prairie or Company) is pleased to advise that the Offer Document and Entitlement and Acceptance Form in respect to the Company's one (1) for ten (10) non-renounceable entitlements issue (Entitlements Issue) have been dispatched to eligible shareholders.

The Company also advises that the below notice has been sent to current ineligible shareholders.

For enquiries, please contact the Company on +61 8 9322 6322, [email protected] or on the details below:

10 November 2021

Dear Shareholder

Non-Renounceable Entitlement Offer - Ineligible Shareholders

I am writing to you as the registered holder of shares in Prairie Mining Limited (Company) with a registered address outside of Australia, New Zealand, Germany and the United Kingdom.

As previously announced, the Company advised that the terms of a non-renounceable pro rata offer of securities to its shareholders on the basis of one (1) new share (New Share) for every ten (10) shares held at the record date at an issue price of A$0.20 (£0.11 / €0.13) per share (Offer).

The Offer is being made by way of an offer document in accordance with section 708AA of the Corporations Act 2001 (Cth) (Corporations Act), as modified by ASIC Corporations (Non-Traditional Rights Issues) Instrument 2016/84, meaning that no prospectus has been prepared.

Those shareholders whose address is outside of Australia, New Zealand, Germany and the United Kingdom are not eligible to participate in the Offer (Ineligible Shareholders).

The Company has determined that it would be unreasonable on this occasion to extend participation in the Offer to Ineligible Shareholders having regard to:

(a) the number of Ineligible Shareholders;

(b) the number and value of securities to be offered to Ineligible Shareholders; and

(c) the cost to comply with the applicable laws and the requirements of applicable regulatory authorities in jurisdictions outside of Australia, New Zealand, Germany and the United Kingdom.

For your information only, details of the Offer are contained in the offer document (Offer Document) which has been lodged with ASX on 2 November 2021. The Offer Document is available on both the Company's website www.pdz.com.au and on the ASX website www.asx.com.au.

Yours sincerely

Dylan Browne

Company Secretary