Exercise of Options and Dealings by Directors

13 April 2010

                            EMERGING METALS LIMITED                            

                           ("EML" or the "Company")                            

                              Exercise of Options                              

                   Dealings by Directors/Holdings in Company                   

Following the announcement on 26 March 2010 of the proposed disposal of its
remaining 8,917,647 shares in Kalahari Minerals plc ("KAH Shares") at a price
of 185p per KAH Share and the convening of the requisite Meeting of
Shareholders by a notice of meeting dated 1 April 2010, the Company is pleased
to announce that it has received exercise notices and payment in respect of all
20,858,002 outstanding 5p options and has accordingly issued 20,858,002 new
ordinary shares of nil par value for a total consideration of £1,042,900.
Application will be made for the new ordinary shares, which rank pari passu in
all respects with the Company's existing ordinary shares (including the right
to the Special Dividend of 2.53 pence or 7.13 pence per share, depending upon
the result of the Meeting of Shareholders) to be admitted to trading on AIM
which is expected to occur on 16 April 2010. Following the issue, the Company's
total issued ordinary share capital will be 351,617,302 Ordinary Shares.

Included in the above were options exercised by or on behalf of the following
directors:

Name                 Number of        Resultant holding of Percentage of       
                     options          Ordinary Shares      enlarged share      
                                                           capital             
                                                                               
Mitch Alland         477,364           3,977,364           1.13%               
                                                                               
Denham Eke           204,585           2,250,432           0.64%               
                                                                               
Patrick Weller       1,004,585         3,550,432           1.01%               
                                                                               
Steve Dattels*       1,109,457        20,901,961           5.94%               
                                                                               
James Mellon**       1,009,457        29,215,141           8.31%               

* - Stephen Dattels' entire shareholding is held by Yvoire Investments Limited,
which is beneficially owned by Stephen Dattels.

** - Jim Mellon's entire shareholding is held by Galloway Limited, a company
which is indirectly wholly owned by the trustee of a settlement under which Jim
Mellon has a life interest.

ENQUIRIES:

Emerging Metals   Religare Capital   Fox-Davies        GTH Communications  
Limited           Markets            Capital           Limited             
                                                                           
Denham Eke        Toby Howell        Daniel Fox-Davies Toby Hall           
                                                                           
+44 (0) 1624      Peter              [phone]   [phone]
639396            Trevelyan-Clark    5200                                  
                                                                           
                  [phone]                                          
                  0800