Prospect Resources Ltd

$PSC has released its Half-Year Financial Report, highlighting strong exploration progress at its Mumbezhi Copper Project in Zambia. Phase 2 drilling significantly extended Nyungu Central, with a substantial MRE jump confirmed in Q1 2026: bit.ly/4s9AyZQ @SamHosack

On Youth Day, we celebrate and acknowledge the ambition and leadership of Zambia’s young people shaping the country’s future. At $PSC, we remain committed to supporting pathways that empower the next generation to grow and succeed.

Today we recognise International Women’s Day 2026 and celebrate the contribution of women across our communities in Zambia. This year’s theme, “Give To Gain”, highlights how generosity, collaboration and shared support can help advance gender equality.

@ProspectResLtd has delivered a disciplined year of strategic progress, advancing Mumbezhi into a sharper, growth‑ready position. We strengthened our project pipeline with EM targets, deepened technical de‑risking, and secured key partnerships that enhance scale potential on our Mumbezhi Copper project. Our work has centred on capital efficiency, rigorous project exploration work, and positioning the business to capture value as global demand for critical minerals accelerates. Looking ahead to 2026, we are targeting expanded resource definition, and structured pathways to development that align with market timing and shareholder value creation. Prospect enters the next phase with momentum, clarity, and institutional discipline.

$PSC will increase its interest in the Mumbezhi Copper Project in Zambia to 90% after executing an agreement to acquire an additional 5% stake for US$4.25M. Field exploration has restarted, with Phase 3 drilling planned to commence in early Q2 2026: bit.ly/4rctryu

MD and CEO @SamHosack spoke with @TheAssay at the @Investinmining Conference, outlining Prospect Resources’ strategy. He discussed advancing the Mumbezhi Copper Project in Zambia’s Copperbelt and the importance of strong community partnerships. youtube.com/watch?v=mh04hY…

Copper!! The U.S has 3 … three … primary Cu smelters. That’s all. 1. Hayden in Arizona, owned by Grupo Mexico. 2. ⁠Miami in Arizona, owned by Freeport-McMoRan. 3. ⁠Kennecott in Utah, owned by Rio Tinto. That’s the entire domestic primary smelting and refining infrastructure for the world’s largest economy … one that is simultaneously trying to electrify its transport network, harden its power grid, and build out AI data centre capacity at unprecedented break neck speed. The consequence is quite stark: roughly 50% of US-produced Cu concentrate is exported for processing, primarily to Asia, and imported back as finished metal. America is mining its own ore and outsourcing the part that creates usable product. This decades-long accumulation of underinvestment in the physical infrastructure of the energy transition - while capital poured into the digital layer above it - is now a very visible bottleneck. Policymakers are beginning to notice. And the companies sitting on permitted, advanced domestic copper resources are suddenly in a very different conversation than they were five years ago. @ProspectResLtd

$PSC's Country Manager Mwelwa Manda spoke with @HotCopper on Zambia’s Copperbelt and its role in global Cu supply. Our recently updated Mumbezhi Project MRE is 772kt Cu (at 0.50% CuEq), +63% in tonnes & +50% in cont. Cu. Phase 3 drilling from Q2 2026: bit.ly/4cwyeqH

$PSC wraps up at #MiningIndaba2026 in Cape Town. We thank the organisers and all who visited our booth. MD @Sam Hosack highlighted Mumbezhi’s updated Mineral Resource of 173.8Mt @ 0.44% Cu (0.50% CuEq) for 772kt Cu. Phase 3 drilling is planned to commence in Q2 2026.

$PSC has been featured by @MiningNewsNet, outlining our recent A$45m raising to advance the Mumbezhi Copper Project.Following a 50% resource increase to 772kt Cu (0.50% CuEq), expansive Phase 3 drilling is set to commence during Q2 2026: bit.ly/4ct89ZB

$PSC MD @SamHosack presented at the Critical Minerals Dealmakers Den at #MiningIndaba2026 in Cape Town, spotlighting Mumbezhi’s increased MRE of 772kt Cu (at 0.50% CuEq) – a 63% lift in tonnes and 50% growth in contained copper: bit.ly/3Oa9Fpv

@SamHosack, Managing Director at @ProspectResLtd, had the opportunity to pitch the company’s critical minerals portfolio to a panel of elite investors during 𝑇ℎ𝑒 𝐷𝑒𝑎𝑙𝑚𝑎𝑘𝑒𝑟𝑠’ 𝐷𝑒𝑛 - 𝐶𝑟𝑖𝑡𝑖𝑐𝑎𝑙 𝑀𝑖𝑛𝑒𝑟𝑎𝑙𝑠 session at the Investing in African @MiningIndaba. The session brings together junior mining companies and decision makers to showcase Africa-based projects spanning copper, rare earth elements, and other strategic minerals, creating a platform to unlock capital, partnerships, and growth opportunities. Hosack outlined Prospect’s development strategy and investment case as the company seeks funding to advance its projects in Zambia, supporting Africa’s role in the global energy transition. The session also featured Adrian O’Brien of Midnight Sun Mining, Peter Bird of AKORA Resources, Kudzai Mtsambiwa of Canyon Resources, Andrew Spinks of EcoGraf, and Jason Peng Gu of Sakariya Mines & Minerals. #MI2026 #MiningIndaba #CriticalMinerals #StrongerTogether

I was privileged to exchange views on a "Commodities and Copper" panel at the Investing in African Mining Indaba earlier this week. As a developer-explorer, risk management sits at the heart of everything we do. Risk dictates our access to capital, and capital remains our most significant enabler. What makes this challenge unique is how intertwined those risks are – shifting constantly across political, economic, social, technological, legal and environmental landscapes. The global path to copper production is undeniably getting tougher; grades have halved and "time-to-market" has doubled over the last 20 years. Yet, against this backdrop, the Zambian government is radically transforming its investment environment. They are making it easier to manage risk, which in turn unlocks the capital required to develop this increasingly scarce but much-needed commodity. But the reality remains … from discovery to bankability alone is a 6-year journey. At best. And the need for ongoing investment is ongoing. This chart summarizes it nicely. We're in the Detailed Exploration phase. So in an industry with these timelines, investing for the long-term and building true, authentic partnerships isn’t just an advantage – it’s the essence of the developers plan. I’m really proud that the concept of Think Global, Act Local has been in our DNA since the inception of @ProspectResLtd. We’re excited with how we’re proving out the copper potential of our Mumbezhi project and proud to be a part of the renaissance of Zambian copper. We’re moving at speed. Much of this can be credited to the investment environment that’s been created, giving us the confidence to really lean in. Thank you to my fellow panelists: Anton Viljoen (CRU), Mametja Moshe (Moshe Capital), Farid Dadashev (Royal Bank of Canada) and Graeme Train (Trafigura)

The numbers are staggering. A single 80 MW data center - like Microsoft’s Chicago site - requires approximately 2,100 tonnes of copper. That is roughly 26 tonnes per MW when accounting for critical power connections. The copper supply gap is no longer just a forecast - it is becoming a fundamental constraint on global compute capacity. When you scale these requirements against the global surge in AI and digital infrastructure, it becomes clear: we are heading toward a significant bottleneck in compute capacity. The challenge is timing. Estimates suggest 61 new copper mines are required by 2030 to meet transition targets, yet the industry knows you cannot simply "turn on" new supply. Developing a tier-1 asset requires years of disciplined technical work, a stable investment environment, and execution capability. At @ProspectResLtd (ASX:PSC), we are well positioned for this reality.

Today’s A$45 million placement marks a decisive shift in how @ProspectResLtd advance the Mumbezhi Copper Project. We are moving deliberately from speculation to certainty, from retail‑driven volatility to disciplined institutional partnership, and from holding an asset to building a long‑life copper business with national relevance. The strong participation from leading domestic and offshore institutions—together with the continued pro‑rata support of our long‑term major shareholder, Eagle Eye Asset Holdings—signals a clear re‑rating of Mumbezhi. Investors are backing a strategy grounded in technical rigour, resource growth and commercial scalability, not hype. This capital allows us to accelerate 50,000 metres of drilling and metallurgical work through 2026–2027, expanding on our updated 772,000‑tonne contained copper resource. Phase 3 drilling later in H1 2026 will deepen confidence at Nyungu Central and systematically test high‑potential regional targets. Our approach is fully aligned with Zambia’s LEAPS vision: a modern, transparent and globally competitive mining sector that drives national development. Through our collaboration with First Quantum Minerals, we are embedding world‑class technical discipline into every stage of the programme. This placement is an inflection point. We are now funded, aligned and institutionally anchored to advance Mumbezhi into a scalable copper business that contributes meaningfully to Zambia’s next generation of mineral‑led growth. wcsecure.weblink.com.au/pdf/PSC/030567…

$PSC secures binding commitments for an oversubscribed A$45M Placement, creating a ~A$55M pro-forma cash balance to advance the Mumbezhi Copper Project. @SamHosack: “a decisive step-change for Prospect” as we accelerate drilling and metallurgical studies: bit.ly/4auVJxL

A research note by Argonaut Equity Research has been released on $PSC, following the upgraded Mineral Resource Estimate at the Mumbezhi Copper Project in Zambia. Argonaut maintains a Spec Buy with a price target of A$0.60: bit.ly/46484Yq #ProspectResources

Zambia’s Mining Renaissance is real. After HH’s #Indaba2026 keynote, one thing is clear: Zambia isn’t just “open for business”; it’s redefining the terms. Target: 1Mt copper produced in 2026. From -2.8% to 6.4% growth. IMF complete. LEAPS framework in action. And at @ProspectResLtd , we are leading the way playing our part. Tier-1 future. The renaissance is here. 🇿🇲⛏️

Watch our MD @SamHosack at #MiningIndaba2026 discuss bringing new copper supply online, long-term investment, risk management and Zambia’s 3Mtpa copper ambition. $PSC is advancing the Mumbezhi Copper Project in Zambia’s Copperbelt: youtube.com/watch?v=KbMZdy…

$PSC MD & CEO @SamHosack presented at #MiningIndaba2026 in the Commodity Focus – Copper session, discussing macro drivers, price outlooks & themes shaping global copper markets. He also highlighted Zambia’s ambition to reach 3Mtpa of copper production. Visit us at Booth JM12.