PGRX Drilling Update: Prospect Global Resources Announces the Commencement Of Its Fourth Drilling Campaign At Its Holbrook

  PGRX Drilling Update: Prospect Global Resources Announces the Commencement
  Of Its Fourth Drilling Campaign At Its Holbrook Project

Business Wire

DENVER -- August 7, 2013

Prospect Global Resources Inc. (NASDAQ: PGRX) (“Prospect Global” or the
“Company”) is pleased to announce the commencement of the Company’s previous
announced drilling program.

Commencement Of Prospect Global Research (NASDAQ: PGRX) Fourth Drilling
Campaign At Its Holbrook Pro ...

Commencement Of Prospect Global Research (NASDAQ: PGRX) Fourth Drilling
Campaign At Its Holbrook Project (Photo: Business Wire)

The Company is targeting 16 to 17 holes to be drilled in the campaign. The
drilling is primarily infill drilling and the holes have been selected to
maximize the potential conversion of inferred resources to measured and
indicated resources. The drilling program will also provide the core samples
needed to complete the remaining rock mechanic and metallurgical test work
required for the completion of a Definitive Feasibility Study.

The drilling will be performed by Boart Longyear and Major Drilling, two of
the premier drilling companies in the world.

The commencement and completion of the drilling program is a critical step
towards completion of a Definitive Feasibility Study, and the Company is on
track to release an updated 43-101 resource report by the end of 2013.

On behalf of the Board of Directors,

Damon G. Barber
President and Chief Executive Officer

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 statements regarding current and future classification of Prospect
Global’s potash resources, development of its potash resources and potash
mining facility and the Pre-Feasibility Study. 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, 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.

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.

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

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Contact:

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