• Numerous encouraging results from initial rock chip survey with gold grades up to 161 g/t and significant anomalous copper and bismuth grades

• Given these very encouraging results and our target generation work from detailed geophysics, a drilling rig has been secured for a 6000m RC program at Tennant Creek starting in mid July 2008

• Approvals for the exploration program granted by the Northern Territory’s Department of Primary Industry, Fisheries and Mines

Prosperity Resources Limited (ASX: PSP) on Thursday provided more comprehensive analysis results from a recent rock chip sampling programme announced in the ASX release of 1 July 2008 following requests from interested shareholders and the Australian Stock Exchange.

A rock chip sample of ironstone recently collected from one of the identified targets, K91, near the historic Mary Ann Mine returned an assay of 161g/t gold and 324ppm copper, providing further evidence that high-grade gold mineralisation exists within the Company’s license areas.

Since the acquisition of this significant tenement package in the rich Tennant Creek Goldfield in February 2008, the Company has conducted detailed geophysics, including gravity, EM and IP surveys, as well as geological and prospectivity mapping to determine these priority targets. The recent results reported to the Australian Stock Exchange by Westgold Resources Ltd, Emmerson Resources Ltd and Excalibur Mining Corporation Ltd provides the Company with further encouragement about the potential for a major discovery in this under explored mineral province.

Prosperity Resources Ltd’s Chairman/Managing Director, Mr Mo Munshi said “These high value rock chip samples as well as the upcoming drilling programme allows the Company to bring together nearly 6 months of exploration work that has focused on target generation within the Tennant Creek Goldfield.” – Press Release