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Prairie Mining Ltd. Capital/Financing Update 2008

May 5, 2008

10239_rns_2008-05-05_aa8de351-25ca-45dc-a5bb-1e70d0f20ec3.pdf

Capital/Financing Update

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ASX RELEASE

6 May 2008

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Option Expiry Notice

Correction to Last Trading Day - PDZO

The directors of Prairie Downs Metals Limited (‘the Company”) wish to confirm the last trading day of options due to expire on 31 May 2008 on the Australian Stock Exchange will be on 23 May 2008. The Option Expiry Notice recently despatched to optionholders incorrectly indicated the last trading day was 30 May 2008.

Alec Pismiris Company Secretary

For further information contact: Elissa Samual Investor Relations Manager [email protected]

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Prairie Mining Ltd. — Capital/Financing Update 2008

10239_rns_2008-05-05_aa8de351-25ca-45dc-a5bb-1e70d0f20ec3.pdf

Option Expiry Notice

Correction to Last Trading Day - PDZO

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Prairie Mining Ltd. Capital/Financing Update 2008