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Prospect Global Evaluating Financing Alternatives

  Prospect Global Evaluating Financing Alternatives

Business Wire

DENVER -- December 2, 2013

Prospect Global Resources Inc. (NASDAQ: PGRX) (“Prospect Global” or the
“Company”) is pleased to announce that the Company is in the process of
evaluating alternatives related to securing financing for the development of
its 100% owned Holbrook property (the “Project”).

“Now that the Company’s Pre-Feasibility Study and infill drilling program for
the Holbrook Project have been completed, our focus is on identifying and
reviewing various alternatives in order to secure the financial commitments
required to proceed with the Project,” comments Damon Barber, President and
CEO, Prospect Global Resources Inc. He continues, “We believe our Holbrook
Project is a compelling project that’s attracting global attention.”

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/A 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.

Contact:

The Rose Group
Elana Weiss, 310-280-3710