Sichuan Chemical Provides Positive Views on PGRX's Announced Debt Extinguishment, Continued Support of Holbrook Potash Project Business Wire DENVER -- December 18, 2013 Prospect Global Resources Inc. (“Company” or “Prospect”) reports that in response to the recent announcement of its agreement to extinguish senior secured debt, Sichuan Chemical Industry Holding (Group) Co., Ltd. ("Sichuan Chemical") has responded with its endorsement and support. Xiaojun Chen, Chairman of Sichuan Chemical’s Board of Directors, stated, “We believe this is one of the final steps in making the mine a reality. We continue to be some of the most long term supporters of the Holbrook Project. The fundamentals of the project with the recent permitting success have only improved over time. As such, Sichuan Chemical believes in its partnership with Prospect Global Resources and we believe 2014 will be its best year yet.” 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 Sichuan Chemical Industry Holding (Group) Co., Ltd. Sichuan Chemical Industry Holding (Group) Co., Ltd. (SCIHC) is a provincial state-owned enterprise with assets of RMB 20 billion. It is a large-scale conglomerate involved in production and marketing of fertilizers and chemical products, including phosphorite and coal. Additional business lines include international commodities trade and chemical and technical services. SCIHC has 24,300 full-time employees, more than 5,000 of whom are technical professionals. Sichuan Chemical has been a leader of China's chemical industry for more than 50 years. Additional details about Prospect Global Resources Inc. can be viewed at the Company’s website, www.prospectgri.com. 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
Sichuan Chemical Provides Positive Views on PGRX's Announced Debt Extinguishment, Continued Support of Holbrook Potash Project
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