Bushveld Minerals Regulatory News (BMN)

2 September 2013

Bushveld Minerals Limited

Issue of Equity

Bushveld Minerals Ltd ("Bushveld" or the "Company") announces that it has issued and allotted 31,742,400 new ordinary shares of £0.01 in the Company as consideration for shares in Lemur Resources Limited ("Lemur") acquired by Bushveld from Lemur shareholders who have accepted Bushveld's offer of three Bushveld Shares for every five Lemur Shares on or before 28 August 2013.

Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM. Dealings are expected to commence from 8.00 a.m. on 9 September 2013 ("Admission").

Following Admission, there will be a total of 332,162,398 ordinary shares in issue. For the purposes of calculating Total Voting Rights shareholders may use this number as the total number of shares in issue from the date of Admission.

Offer Details

The Bushveld offer for Lemur continues to be open until 7.00pm (Australian EST) on 13 September 2013. The Company will update shareholders on further acceptances received from Lemur Shareholders between 28 August 2013 and the close of the offer period.

Holdings in Lemur

Following Admission, Bushveld will be interested in 90,524,952 ordinary Lemur shares being a holding of 47.02%.

For further information please contact:

Enquiries: info@bushveldminerals.com