The Collaborative International Dictionary of English v.0.48:

Prospect \Pros"pect\, n. [L. prospectus, fr. prospicere,
   prospectum, to look forward; pro before, forward + specere,
   spicere, look, to see: cf. OF. prospect. See Spy, v., and
   cf. Prospectus.]
   1. That which is embraced by eye in vision; the region which
      the eye overlooks at one time; view; scene; outlook.
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            His eye discovers unaware
            The goodly prospect of some foreign land. --Milton.
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   2. Especially, a picturesque or widely extended view; a
      landscape; hence, a sketch of a landscape.
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            I went to Putney . . . to take prospects in crayon.
                                                  --Evelyn.
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   3. A position affording a fine view; a lookout. [R.]
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            Him God beholding from his prospect high. --Milton.
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   4. Relative position of the front of a building or other
      structure; face; relative aspect.
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            And their prospect was toward the south. --Ezek. xl.
                                                  44.
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   5. The act of looking forward; foresight; anticipation; as, a
      prospect of the future state. --Locke.
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            Is he a prudent man as to his temporal estate, that
            lays designs only for a day, without any prospect
            to, or provision for, the remaining part of life ?
                                                  --Tillotson.
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   6. That which is hoped for; ground for hope or expectation;
      expectation; probable result; as, the prospect of success.
      "To brighter prospects born." --Cowper.
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            These swell their prospectsd exalt their pride,
            When offers are disdain'd, and love deny'd. --Pope.
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The Collaborative International Dictionary of English v.0.48:

Prospect \Pros"pect\, v. t. [imp. & p. p. Prospected; p. pr. &
   vb. n. Prospecting.]
   To look over; to explore or examine for something; as, to
   prospect a district for gold.
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The Collaborative International Dictionary of English v.0.48:

Prospect \Pros"pect\, v. i.
   To make a search; to seek; to explore, as for mines or the
   like; as, to prospect for gold.
   [1913 Webster]

WordNet (r) 3.0 (2006):

prospect
    n 1: the possibility of future success; "his prospects as a
         writer are excellent" [syn: prospect, chance]
    2: belief about (or mental picture of) the future [syn:
       expectation, outlook, prospect]
    3: someone who is considered for something (for an office or
       prize or honor etc.) [syn: candidate, prospect]
    4: the visual percept of a region; "the most desirable feature
       of the park are the beautiful views" [syn: view, aspect,
       prospect, scene, vista, panorama]
    5: a prediction of the course of a disease [syn: prognosis,
       prospect, medical prognosis]
    v 1: search for something desirable; "prospect a job"
    2: explore for useful or valuable things or substances, such as
       minerals

The Devil's Dictionary (1881-1906):

PROSPECT, n.  An outlook, usually forbidding.  An expectation, usually
forbidden.

    Blow, blow, ye spicy breezes --
        O'er Ceylon blow your breath,
    Where every prospect pleases,
        Save only that of death.
                                                         Bishop Sheber