Prosperity Resources Limited : Prosperity Increases Ownership Over Aceh Assets

PROSPERITY RESOURCES LIMITED

100 Parry Street

PERTH WA 6000

PO Box 7516

CLOISTERS SQUARE WA 6850

Tel: [phone]

Fax: [phone] [e-mail] www.prosperity.net.au

12 October 2012

PROSPERITY INCREASES OWNERSHIP OVER ACEH ASSETS

Prosperity Resources Limited (ASX:PSP) ("Company") is pleased to advise it has reached agreement with its joint-venture partners to acquire an additional 10% of the equity in three exploration licence (IUP) holding companies in the Company's gold-copper project in Aceh Province, Indonesia.
The agreement brings the Company's Indonesian subsidiary's ownership in these assets to
90%, with the balance remaining with the joint-venture partners.
As consideration for the additonal equity stake and assistance in concluding the agreement, the Company will issue 11,000,000 fully paid ordinary shares to the joint-venture partners and contract intermediaries.
The three companies are: