Notice of Meeting of Shareholders

For Immediate Release

                                                                   1 April 2009

                            Emerging Metals Limited                            
                                                                               
                                (the "Company")                                
                                                                               
                       Notice of Meeting of Shareholders                       

                    Proposed Expansion of Business Strategy                    

Emerging Metals Limited is today posting a circular to shareholders in relation
to a Meeting of Shareholders of the Company ("Meeting"). The Meeting will be
held at The Sanderson Suite, The Claremont Hotel, 18-22 Loch Promenade,
Douglas, Isle of Man, IM1 2LX at 5p.m. on 10 April 2009.

The Notice of Meeting sets out details of a proposed expansion of the Company's
existing business strategy. The sole resolution to be considered at the Meeting
gives shareholders the opportunity to approve the proposed new strategy.

The proposed Business Strategy reflects the preferred strategy of the Directors
moving forward in relation to the Tsumeb Slag Stockpiles Project and gives the
Directors greater flexibility to utilize the Company's existing cash reserves
in what are difficult market conditions. The Business Strategy would, if
approved, permit the Directors to continue to review and consider potential
investments in not just physical minor metals and additional minor metals
projects (the strategy outlined in the Admission Document), but also permit
different types of investment in other (non-minor) metals. Further, the
Business Strategy gives the Company explicit capacity to acquire strategic
stakes in publicly traded companies with a focus on Investment Metals (being
all metals other than base metals (excluding for these purposes zinc) and bulk
commodities metals as part of the Company's ordinary course of business.

Following Admission the Company's primary focus has been the Tsumeb Slag
Stockpiles Project. The Company continues to conduct its own studies and test
work to determine the viability of winning the contained metals, principally
germanium but also zinc and gallium, from the Tsumeb Slag Stockpiles. However,
given current market conditions for these particular metals, the Directors
believe that better returns will be achievable in the short term by continuing
to build exposure to a breadth of Investment Metals. The Company will
accordingly seek to minimise the evaluation and test work costs on the Tsumeb
Slag Stockpiles whilst these conditions continue and may consider exiting the
Tsumeb Slag Stockpiles Project altogether. The Company will update Shareholders
about any results from the evaluation and test work and the Company's
intentions regarding the Tsumeb Option.

The Company has to date acquired 15,820,000 ordinary shares in Kalahari
Minerals plc ("KAH", quoted on AIM) at an average cost, including commissions,
of approximately 45.35 pence per share and 358,479 ordinary shares in Extract
Resources Limited ("EXT", quoted on the Australian Stock Exchange) at an
average cost, including commissions, of approximately AU$1.20 per share. These
prices compare to the closing mid-market prices of KAH and EXT on 31 March
2009, the most recent date prior to publication of Notice of Meeting of
Shareholders, of 106.5 pence and AU$4.52 respectively.

Copies of the circular will be available at the company's registered office
(Craigmuir Chambers, Road Town, Tortola, British Virgin Islands), as well as
its head office & principal trading address (Viking House Nelson Street
Douglas, Isle of Man IM1 2AU). Copies are also available on the Company's
website at www.emergingmetals.com.

For further information:

Emerging Metals     Blomfield Corporate Fox-Davies Capital  GTH Communications 
Limited             Finance Limited     Limited                                
                                                                               
Mitch Alland        Toby Howell         Daniel Fox-Davies   Toby Hall          
                                                                               
                    Peter                                                      
                    Trevelyan-Clark                                            
                                                                               
[phone] [phone]     [phone]     [phone]    
                    4500                5200                8035               

END