EMERGING METALS LIMITED - Statement re Investing Company status

For immediate release: 21 April 2011

Emerging Metals Limited                            

                                (the "Company")                                

                           Investing Company status                            

Emerging Metals Limited (AIM: EML) is pleased to clarify that, further to the approval of its expanded investing policy on 8 April 2011 and after consultation with the Exchange, the Company became an investing company for the purposes of the AIM Rules on 19 July 2010 (following completion of its disposal of shares in Extract Resources) and hence has twelve months from that date to make an acquisition(s) which constitute(s) a reverse takeover or otherwise implement its investing policy to the satisfaction of the Exchange.

The Directors continue to review potential investment and acquisition opportunities in line with the Company's new investing policy and will make further announcements as and when required.

Contact details

  Emerging Metals    Religare Capital        Evolution              GTH        
      Limited             Markets           Securities                         
                                                              Communications   
                                                                               
    Denham Eke             Peter            Romil Patel          Toby Hall     
                      Trevelyan-Clark                                          
                                            Tim Redfern      Christian Pickel  
                       Emily Staples

[phone]   [phone]   [phone]   [phone]  
                           0800                                    3900        

The full text of the investing policy approved by shareholders on 8 April 2011is set out below:

The Company's strategic objective is to acquire holdings in natural resources companies and/or physical resource assets which the Directors believe are undervalued and where such a transaction has the potential to create value for shareholders. The Directors intend to take an active role in the management of such investments and estimate that they will be held for periods of up to five years.

The Company is seeking to acquire interests in natural resources projects (including but not limited to all metals, minerals and hydrocarbon projects) or physical resource assets on a worldwide basis. Projects may include (without limit) exploration permits and licences, processing plants, mines or oil and gas fields, which may be achieved through acquisitions, partnerships or joint venture arrangements. Such investments may result in the Company acquiring the whole or part of a company or project, and may include the Company taking strategic equity stakes in both public and private companies.

The Company's investments may take the form of equity, debt, convertible instruments, licence rights, options or other financial instruments as the Directors deem appropriate. Forward transaction and derivatives (including put and call options on individual positions or physical resource assets) may be used to gain exposure to resources or the securities of companies falling within the Company's investing policy or to seek to generate income from the Company's position in such resources or companies, as well as for efficient portfolio management. The Company may hedge exposure to foreign currencies if considered appropriate for efficient portfolio management. The Company would not contemplate investments or acquisitions that carry a high degree of contingent risk or liability that is capable of imposing financial obligations upon the Company that it could not reasonably expect to meet.

The Company intends to continue to search for and review a number of opportunities which the Directors believe would benefit from a degree of further investment, the expertise of the Directors and access to the UK's capital markets. The Company will review project opportunities at all stages from early stage exploration to later stage extraction and processing.

The Directors believe that their broad collective experience in the areas of acquisitions, accounting, corporate and financial management together with the opinion of consultant experts in the evaluation and exploitation of natural resources projects who will assist them in the identification and evaluation of suitable opportunities, will enable the Company to achieve its strategic objective. Where necessary, internationally recognised competent persons will be commissioned to prepare reports on the projects being considered by the Company.

The Directors may undertake initial project assessments themselves with additional independent technical advice as required. There is no limit on the number or size of projects into which the Company may invest.

Strategic equity investments may be undertaken in the ordinary course of the Company's business and as an alternative to holding cash reserves on a day-to-day basis. The Directors do not envisage that the Company's investment portfolio will be leveraged initially; however, this position may be reviewed should the Board become aware of available and commercially prudent financing arrangements. The Company will consider cross holdings of shares in circumstances that would benefit its broader strategic objective.

The Directors will consider distribution of any future returns to shareholders by way of dividend, share repurchases, demergers, schemes of arrangement, liquidation or other means in the light of prevailing circumstances at the time of any such distribution.

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