Disposal

For Immediate Release: 9 July 2010

                            EMERGING METALS LIMITED                            

                           ("EML" or the "Company")                            

                                   Disposal                                    

The Company is pleased to announce that it has entered into an agreement to
dispose of its entire holding of 368,721 shares in Extract Resources Limited
("EXT Shares") to Nippon Uranium Resources (Australia) Proprietary Limited at a
price of A$7.00 in cash per EXT Share. The gross proceeds of the sale will be
A$2,581,047, approximately £1.48 million, which will be available for EML to
apply in accordance with its investing policy approved by shareholders on 16
April. The sale is conditional on certain Australian regulatory approvals and
completion is expected to be no later than 17 August 2010.

Extract Resources Limited ("EXT") is an ASX listed uranium exploration and
development company with significant uranium assets in Namibia, namely the
Husab uranium project comprising the Rossing South, Ida Dome and Hildenhof
deposits and the EXT Shares represent approximately 0.15 per cent. of EXT's
issued share capital.

ENQUIRIES:

Emerging Metals    Religare Capital    Fox-Davies Capital GTH Communications   
Limited            Markets                                Limited              
                                       Daniel Fox-Davies                       
Denham Eke         Peter                                  Toby Hall            
                   Trevelyan-Clark     [phone]                         
+44 (0) 1624                           5200               Christian Pickel     
639396             Emily Staples                                               
                                                          [phone] 
                   [phone]