First day of dealings

For immediate release: 0700hrs 1st July 2008

                            Emerging Metals Limited                            

                  ("EML", "Emerging Metals" or "the Company")                   

                         First day of dealings on AIM                          

The Directors of Emerging Metals Limited (AIM: EML), the mining company focused
on minor metals and rare earth elements, are pleased to announce that the
330,759,300 issued ordinary shares of the Company have today been admitted for
trading on AIM.

Emerging Metals was incorporated and registered in the British Virgin Islands
on 4 July 2007 for the purpose of focusing on minor metals and rare earth
elements ("Investment Minor Metals"). The Company's initial focus is the
development of the Tsumeb Slag Stockpiles Project. Moving forward, the Company
intends to acquire physical quantities of Investment Minor Metals as well as
additional complementary Investment Minor Metals projects. This business model
is intended to take advantage of an anticipated imbalance in the supply of, and
demand for, Investment Minor Metals, which the Directors believe will cause a
rise in market prices for these metals.

In January 2008, the Company purchased from Ongopolo Mining Limited, a
subsidiary of Weatherly International plc, an option to acquire slag stockpiles
from a lead blast furnace (the "Lead Blast Furnace Slag Stockpile") and from a
copper reverbatory (the "Copper Reverbatory Furnace Slag Stockpile") at the
Tsumeb Smelter complex in the Oshikoto region of the Republic of Namibia which
contain base and rare metals.

The Company's initial focus is to investigate potential methods of producing
the rare metal germanium from the Tsumeb Slag Stockpiles, but also plans to
pursue the production of zinc and gallium. A Competent Person's Report prepared
by Mine Analysis Services LLC states that the Lead Blast Furnace Slag Stockpile
contains 2,000,000 tonnes with a reported average germanium analysis of 260 ppm
and a zinc analysis of 9.03% as an Indicated Resource as defined in the 2007
SME Guide for Reporting Exploration Results, Mineral Resources and Mineral
Reserves.

Several metallurgical processes have been tested and documented in the past,
each showing some promise for winning the contained metals from the slag. In
particular, both pyrometallurgical and hydrometallurgical treatments have been
studied. The Company nevertheless plans to carry out its own studies and test
work to determine the optimum process for winning the contained metals from the
slag.

Since incorporation, the Company has raised gross proceeds of approximately £
13.46 million. Most recently, the Company completed a private placement and
issued 22,746,663 ordinary shares at 12 pence per ordinary share to
institutional and other investors, raising approximately £2.7 million before
expenses. As at 24 June 2008, the Company had cash balances totalling £11.46
million.

Moving forward, the Company intends to continue to build exposure to a breadth
of Investment Minor Metals by acquiring additional mineral projects.

The Company's nominated adviser is Blomfield Corporate Finance Limited and
broker is Fox-Davies Capital Limited.

Mitch Alland, CEO of EML, commented:

"The market trend for Investment Minor Metals has been one of rising prices,
driven by classic supply and demand economics. We believe that the minor metals
market is only partially into its upward cycle and that the current upward
trend in the minor metals sector could continue for a number of years as China
- which has historically been the major supplier of a significant number of the
Investment Minor Metals - struggles to meet global demand as it introduces a
tighter strategic management policy of its resources."

Copies of the Admission Document are available at www.emergingmetals.com.

- ends -

Contact details

  Emerging Metals   Blomfield Corporate Fox-Davies Capital          GTH        
      Limited         Finance Limited         Limited                          
                                                              Communications   
                                                                               
   Mitch Alland         Toby Howell        Richard Hail          Toby Hall     
                                                                               
[phone]   [phone]     [phone]     [phone]  
                           4500                5200                8035        

NOTES TO EDITOR

Emerging Metals Limited

Strategy

The Company's initial primary focus will be the Tsumeb Slag Stockpiles Project.
Emerging Metals plans to conduct its own studies and test work to determine the
viability of winning the contained metals from the Tsumeb Slag Stockpiles. The
Company is principally interested in producing germanium from the stockpiles,
but also plans to pursue the production of zinc and gallium.

The Company also intends to build exposure to a breadth of Investment Minor
Metals. The Investment Minor Metals that the Company plans to target exposure
to include, but are not limited to: antimony, arsenic, bismuth, cadmium,
chromium, cobalt, gallium, germanium, hafnium, indium, iridium, magnesium,
manganese, mercury, molybdenum, osmium, platinum group metals, rare earth
elements, rhenium, rhodium, ruthenium, selenium, silicon, tellurium, tin,
titanium, tungsten, vanadium, zinc and zirconium.

The Company may acquire, hold, store, market and trade physical quantities of
Investment Minor Metals as part of a trading portfolio. The Directors believe
that current market conditions will provide good opportunities for a positive
return from this activity as the prices of the Investment Minor Metals
increase.

Moving forward the Company intends to continue to build exposure to a breadth
of Investment Minor Metals by acquiring additional mineral projects. In
evaluating additional opportunities in Investment Minor Metals the Directors
will take into account the goal of achieving a diversified exposure to
different Investment Minor Metals as well as the market outlook for individual
elements. Future projects may be structured as direct licence rights, companies
(whether quoted or unquoted), partnerships, convertible instruments, options,
debt or other loan structures, joint ventures or other financial instruments as
the Directors deem appropriate. These opportunities may include interests (in
whole or in part) in (without limit) exploration permits and licenses, mining
projects under development, operating mines, smelters, slag stockpiles,
refineries, and associated activities. The Directors who have extensive
experience in the acquisition, development and operation of exploration and
mining projects intend to undertake the initial assessments internally with
additional independent expert advice as required.

The Directors believe that their collective experience in the areas of mining,
acquisitions, accounting, corporate and financial management together with the
opinion of expert consultants in the evaluation and exploitation of Investment
Minor Metals opportunities will enable the Company to achieve its objectives.

Description of the Tsumeb Slag StockpilesProject

The Tsumeb Slag Stockpiles Project will involve the metallurgical processing of
stockpiled slag produced by the Tsumeb Smelter for the production of germanium,
gallium and zinc. The processing of the slag is expected to take place
immediately adjacent to the stockpiles using a combination of pyrometallurgy
and hydrometallurgy.

Smelter slags are an important waste product resulting from the smelting of
ores and concentrates. Slag is typically formed from the silicate melt produced
during the pyrometallurgical recovery of base metals by reducing fusion in a
smelter furnace. The Tsumeb slags were often rich in residue metals, especially
heavy metals (lead, zinc, copper) and rare metals (germanium, gallium, indium).
There are two Tsumeb Smelter slag stockpiles - the Lead Blast Furnace Slag
Stockpile and the Copper Reverbatory Furnace Slag Stockpile.

The Lead Blast Furnace Slag Stockpile is located adjacent to the Tsumeb Smelter
and covers an area of about 350m by 350m and consists of three main dumps
comprising granular unconsolidated slag that is a fine medium grained black,
glassy material, which runs relatively freely. The size and shape of these
stockpiles are reported to have changed over time with slag material having
been used either for landfill or various construction related projects, or
eroded, or moved to other locations. The contained metal grades range as
follows: 6.4 to 11.63% zinc; 1.5 to 2.7% lead; and 70 to 590 ppm germanium.

The Copper Reverbatory Furnace Slag Stockpile has less material with
smaller-sized granulated slag having a different zinc and germanium content. It
is located immediately adjacent to the Lead Blast Furnace Slag Stockpile,
separated by a paved access road and a railroad track. Metal grades in the
Copper Reverbatory Furnace Slag range as follows: 1.82 to 7.88% zinc; 0.16 to
4.41% lead; and 110 to 1300 ppm germanium.

The Competent Person's Report, contained in the Company's AIM Admission
Document, states that the Lead Blast Furnace Slag Stockpile contains 2,000,000
tonnes with a reported average germanium analysis of 260 ppm and a zinc
analysis of 9.03% as an Indicated Resource as defined in the 2007 SME Guide for
Reporting Exploration Results, Mineral Resources and Mineral Reserves.

No tonnage or grade information, other than smelter metallurgical accounting
records, is available for the Copper Reverbatory Furnace Slag Stockpile.
Therefore, a classification could not be assigned to the Copper Reverbatory
Furnace Slag Stockpile as per the 2007 SME Guide.

The Company plans to confirm the metal content of each stockpile as well as the
volume and mass of stockpiled material as part of developing a metallurgical
process. The Company is currently in the process of preparing a feasibility
study on the Tsumeb Slag Stockpiles Project.

Directors

The Directors of the Company are as follows:

Mitchell Alland (aged 68), Chief Executive Officer

Mr. Alland has a distinguished career in the mining and finance sectors. Most
recently, he was a founding shareholder and CEO of AIM-listed Copper Resources
Corporation (CRC). CRC has three copper projects in the Congo, one of which is
under construction and expected to commence production at the rate of 50,000
tonnes per annum in 2008. Prior thereto, Mr. Alland had a 23-year career at the
World Bank and the International Finance Corporation (IFC), its affiliate
responsible for private sector project financing in developing countries. He
has broad-based experience in finance and management, including exposure as
manager, investor, merchant banker and financial advisor. Mr. Alland has
extensive experience with mining projects worldwide, starting with early
attempts in the 1970s to develop the Tenke-Fungurume copper project in Congo
(then Zaire), and, following, in 1975 to 1986, with major projects by Zambia
Consolidated Copper Mines, ZCCM, (then Nchanga Consolidated Copper Mines,
NCCM), including the financing and review of the company's major expansion
projects, among them its major copper tailings leach and cobalt projects, as
well as supervision of the company's activities throughout the period. Mr.
Alland's subsequent activities in minerals and mining involved the LAMCO iron
ore project in Liberia, the MIBA diamond project and the Kilimoto gold project
in Congo (Zaire), and financing of the Alucam (Pechiney) aluminum smelter in
Cameroon. Subsequent experience in 1990 to 1992 involved mining projects in
South America, including Escondida (copper) in Chile, Comsur, the largest
private mining company in Bolivia, Yanacocha (gold) and Southern Peru Copper in
Peru. Mr. Alland was board director of Comsur and alternate director of
Escondida. Mr. Alland holds an M.B.A. from Harvard Business School and a B.A.
from Harvard College. He speaks English, French, German, Polish, Portuguese,
Spanish, Swedish and Thai.

Denham Hervey Newall Eke (aged 56), Chief Financial Officer

Mr. Eke started his career in stockbroking and insurance with Shepphards &
Chase and then Hogg Robinson plc. Over the last 15 years he has held
directorships of a large number of companies, principally involved in equity
investments, property ownership and management, and hotel operations, where he
has been tasked with rationalising and restructuring operations to enhance
profitability. Mr. Eke is currently the Chairman of betinternet.com plc and
Managing Director of Burnbrae Group Ltd.

Stephen Roland Dattels (aged 60), Non-executive Co-Chairman

Mr. Dattels has founded and/or financed a number of mining ventures with his
most recent being UraMin Inc. which was sold in July 2007 to Areva, the French
government-owned fully integrated uranium company. Mr. Dattels was an executive
at Barrick Gold Corporation during its formative years when it grew from a
capital base of $10 million to a market capitalisation of $2 billion when he
left in early 1987. During his employment with Barrick, he was a Director and
Executive Vice President of Corporate Finance. In the past decade, he has
completed several financings either directly or through his merchant bank,
Regent Mercantile Bancorp Inc., including, for Apollo Gold Corporation, Royal
Standard Minerals Inc., Guyana Goldfields Inc., European Minerals Corporation,
Defiance Mining Corporation (merged with Rio Narcea Gold Mines Ltd., which in
turn was merged with Lundin Mining Corporation), Weda Bay Minerals Inc. (sold
to Eramet S.A.), Apac Minerals Inc. (now Golden China Resources Corporation
which was merged with Sino Gold Mining Limited), African Gold PLC (now Mwana
Africa PLC), Red Dragon Resources and Regent Pacific Group Limited (Hong Kong).
He also was the Chairman and founder of Caledon Resources PLC (formerly Finelot
PLC), an AIM-listed Australian coal producer and Chinese exploration company,
and was the co-founder and Managing Director of AIM-listed Oriel Resources PLC,
a developer of nickel and chrome assets in Kazakhstan. He also co-founded
Everfor Diamonds PLC, a Kola Peninsula diamond explorer traded on AIM. In the
mid-1990s Mr Dattels founded International Gold Resources Corporation, which he
brought from inception to its sale in 1996 to Ashanti Goldfields Company
Limited. In 2007, Mr. Dattels founded a new venture called CCEC Ltd. which is
acquiring thermal coal projects in China. CCEC Ltd. recently merged with Regent
Pacific Group Limited, a public company listed on the Hong Kong Stock Exchange.
Mr. Dattels is currently the Executive Chairman of AIM-listed Polo Resources
Limited, a coal exploration and development company with exploration coal
assets in Mongolia, as well as holdings in GCM Resources PLC and Caledon
Resources PLC. Mr. Dattels has a bachelor of arts from McGill University, a law
degree (cum laude) from the University of Western Ontario and has completed the
Program for Management Development at Harvard.

James Mellon (aged 51), Non-executive Co-Chairman

Mr. Mellon has been a fund manager for twenty years, after graduating from
Oxford University. He is the principal shareholder of Burnbrae Limited and is
an avid participant in a number of markets, in particular the stock markets of
emerging nations. Mr. Mellon started his career by investing in Asian and
American stocks and, with his business partner, went on to pioneer investment
in closed end funds. Mr. Mellon worked for GT Management Plc from 1978 to 1984.
In July 1984, he joined the Thornton Group where he was Managing Director of
the Asian operation. From 1988 to 1990, he was an executive director of Tyndall
Holdings Plc responsible for business expansion and corporate development. Mr.
Mellon is currently the co-chairman of Regent Pacific Group Limited and a
non-executive director of Charlemagne Capital Limited, which is traded on AIM.
Mr. Mellon holds a masters degree in Politics, Philosophy and Economics from
Oxford University.

Patrick Colin Crockett Weller (aged 53), Non-executive Director

Mr. Weller has thirty years of experience in the marketing and trading of base
metals, ferroalloys, minor metals and industrial minerals worldwide with
particular experience in Europe (including emerging central Europe), CIS and
the Americas, having graduated from Southampton University with a BSc in
Physical Geography and then joining Noranda Sales Corporation. Mr. Weller has
been Managing Director of Euromin SA since 2001 having joined the trading team
in 2000. Euromin is an international metals and ores trading subsidiary 100%
owned by the Vitol Group. Euromin's focus is on the zinc business and
associated metals/secondaries and the company is particularly active in Russia
and the Black Sea region in partnership with the Chelyabinsk Zinc Plant (CZP).
Mr. Weller was a Director of CZP from 2001 to 2003 when CZP was under the
ownership of the Vitol Group. Prior to joining Euromin, Mr. Weller was a
Director of Noranda Sales Corporation (London) from 1982 to 1993, handling the
marketing of a diverse range of ores, concentrates and metals including
molybdenum, manganese, alumina, fluorite, zinc, lead and minor/precious metals
in Europe, Africa and the former Comecon. From 1993 until 1998, Mr. Weller was
commercial vice president for Noranda/Falconbridge Group based in Toronto with
responsibility for marketing and sourcing zinc and lead raw materials for the
Group's mines and smelters in international markets.