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Prairie Mining Limited NEWS RELEASE | 29 January 2021 DECEMBER 2020 QUARTERLY REPORT Prairie Mining Limited ( Prairie or the Company ) is pleased to present its Quarterly Report for the period ending 31 December 2020 . HIGHLIGHTS • • International arbitration claims ( Claim ) against the Republic of Poland under both the Energy Charter Treaty and the Australia - Poland Bilateral Investment Treaty ( Treaties ) ongoing with the proceedings having now been constituted and a quantum expert being appointed by the Company during the quarter . ➤ Prairie alleges that the Republic of Poland has breached its obligations under the Treaties through its actions to block the development of the Company's Jan Karski and Debiensko mines in Poland . ➤ The Republic of Poland's actions have deprived Prairie of the entire value of its investments in Poland . Claim for the damages may include but is not limited to the value of Prairie's historical expenditure in developing both the Jan Karski and Debiensko mines , lost profits and damages , which is linked to the net present value of both mines , and accrued interest related to any damages . The Company's Claim against the Republic of Poland will be prosecuted through an established and enforceable legal framework with both parties agreeing to apply the United Nations Commission on International Trade Law Rules ( UNCITRAL ) to the proceedings . The Company is well funded to pursue the Claim with the US $ 12.3 million Litigation Funding Agreement ( LFA ) in place and currently being drawn down to cover legal , tribunal and external expert costs and defined operating expenses associated with the Claim . Prairie continues its efforts to identify and assess other suitable new business opportunities , focused on the resources sector . The Company will make announcements to the market as appropriate . Enquiries Prairie Mining Limited Ben Stoikovich , Chief Executive Officer Sapan Ghai , Head of Corporate Development Kazimierz Chojna , Commercial Officer +44 20 7478 3900 info@pdz.com.au This announcement as been authorised for release by the Company's Chief Executive Officer , Mr Ben Stoikovich . Prairie Mining Limited | LSE / ASX / GPW : PDZ | ABN : 23 008 677 852 | www.pdz.com.au LONDON Unit 3C , 38 Jermyn Street | London | SWY1 6DN | T : +44 207 478 3900 PERTH Level 9 , 28 The Esplanade , Perth WA 6000 | T : +61 8 9322 6322 | F : +61 8 9322 6558 WARSAW Wiejska 17/11 | Warsaw | 00-480