Prospect Global Completes Senior Debt Amendment

  Prospect Global Completes Senior Debt Amendment

               Pre-Feasibility Study on track for July Delivery

Business Wire

DENVER -- June 26, 2013

Prospect Global Resources Inc. (NASDAQ: PGRX) announced today the amendment of
its senior secured debt with the Karlsson Group.

Key highlights include:

  *Removal of all interim financing milestones
  *Removal of interim principal payment of $30 million due January 2015; full
    debt maturity on July 2015
  *Required interim development milestones to ensure the continued
    development of Prospect Global’s Holbrook Basin potash project
  *Issuance of five year warrants to purchase 3 million shares of common
    stock at $0.12 per share

“This amendment will provide us with more flexibility in capital raising by
eliminating the interim financing milestones,” said Damon Barber, PGRX CEO. As
previously announced, Prospect Global expects to release the results of its
Pre-Feasibility Study in July 2013.

About Prospect Global Resources Inc.

Prospect Global Resources Inc. is a Denver-based company engaged in the
exploration and development of a potash mine located in the Holbrook Basin of
eastern Arizona. Prospect Global’s stock is traded on the NASDAQ Capital
Market under the ticker symbol PGRX.

Regarding Forward-Looking Statements

With the exception of historical matters, the matters discussed in this press
release include forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from
projections or estimates contained herein. Such forward-looking statements
include development of Prospect Global’s potash resources and potash mining
facility and the senior debt amendments. Factors that could cause actual
results to differ materially from projections or estimates include, among
others, potash prices, economic and market conditions, and the additional
risks described in Prospect Global's filings with the SEC, including Prospect
Global's Annual Report on Form 10-K for the year ended March 31, 2012 and its
Prospectus Supplement dated June 21, 2013. Most of these factors are beyond
Prospect Global's ability to predict or control. The forward-looking
statements are made as of the date hereof and, except as required under
applicable securities legislation, Prospect Global does not assume any
obligation to update any forward-looking statements. Readers are cautioned not
to put undue reliance on forward-looking statements.

Additional details about Prospect Global Resources Inc. can be viewed at the
Company’s website, www.prospectgri.com.

Contact:

Prospect Global Resources Inc.
Gregory Dangler, Interim CFO
+1 (303) 990-8444
 
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