Elemental Minerals provides Updated Investor Presentation

PERTH, Australia, Nov. 20, 2012 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) ("Elemental" or "the Company") is pleased to provide an updated investor presentation replacing the version lodged with ASX earlier today as part of its proposed capital raising announced this morning.

The presentation is available on the ASX platform (http://www.asx.com.au/) and on the Company's website.

As part of the presentation, which details information about the proposed raising, the Company has also provided a strategic update.

Elemental has as part of its ongoing strategic review received a number of non-binding, indicative and confidential proposals concerning potential corporate transactions and financing, infrastructure and capital alternatives available to the Company. Whilst a number of these proposals have been investigated and a number of parties have conducted due diligence enquiries regarding the Company, no proposal received by the Company is at a stage where it is capable of being implemented in the form presented.

The most advanced of these proposals was an indicative, non-binding highly conditional proposal received from a mining industry participant to acquire 100 per cent of the shares in Elemental at an indicative price of A$0.77 in cash per share. Elemental notes that this price was based on certain assumptions (including the existing number of shares on issue) and the proposal is highly conditional (including subject to due diligence). Some due diligence has been provided. The proposal in that form and at that price has since been withdrawn. It is therefore no longer capable of being pursued.  The third party has however confirmed a willingness to continue discussions with the Company. There is no guarantee that a binding proposal capable of being put to shareholders for consideration will be achievable (and particularly at the indicative price mentioned above given the proposal's withdrawal) or forthcoming or that negotiations will continue.

The remaining proposals considered by the Board have either been rejected by the Board or remain incomplete, uncertain or at a very preliminary stage with no ongoing substantive negotiations occurring in respect of them. Accordingly, the Company does not consider those remaining proposals to be material.

About Elemental Minerals

Elemental Minerals Limited is an advanced mining exploration and development company that aims to grow shareholder value through its 93%-owned Sintoukola Potash Project on the Republic of Congo coastline.  Elemental Minerals is dual listed on the Australian Stock Exchange and the Toronto Stock Exchange under the symbol ELM. For more information, visit www.elementalminerals.com

"Forward-Looking Statements:

This press release contains statements that are "forward-looking". Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, to differ materially from those expressed or implied in any of our forward-looking statements, which are not guarantees of future performance.

Statements in this press release regarding the Company , which are not historical facts, are "forward looking" statements that involve risks and uncertainties, such as to completion of the capital raising described herein including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

SOURCE: Elemental Minerals Limited

Iain Macpherson
Chief Executive Officer
Tel: [phone]
[email protected]

John Sanders
Executive Director
Tel: [phone]
[email protected]

Ilja Graulich
Investor Relations Manager
Tel: [phone]
[email protected]

Johannesburg Office: [phone]

www.elementalminerals.com