Lemur Resources - Recommendation to accept

19 June 2015

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Lemur Resources - Recommendation to accept

Bushveld Minerals (AIM BMN), a diversified mineral development company with projects in Africa, notes the announcement made by Lemur Resources ("Lemur") on the Australian Stock Exchange ("ASX Announcement") titled Recommendation to Accept.

Lemur's Independent Directors have today advised that they recommend to Lemur shareholders that they accept the off-market takeover offer (the "Offer") launched by Bushveld, in the absence of a superior proposal.

The ASX Announcement may be viewed in full here:

http://www.asx.com.au/asxpdf/20150619/pdf/42z93s7xfl8sgv.pdf

Contact

For further information on Bushveld please visit http://www.bushveldminerals.com or contact:

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Notes to the editor

Bushveld Minerals Limited is a mineral development company with a portfolio of vanadium-and titanium bearing iron ore and tin assets in Southern Africa.

The Company owns the Bushveld Vanadium Project, Bushveld Iron Ore Project and Mokopane Tin Project, located on the northern limb of the Bushveld Complex, South Africa. In addition, Bushveld has a controlling interest in Lemur Resources (ASX: LMR), that owns the Imaloto coal project in Madagascar.

Bushveld was admitted to the AIM of the London Stock Exchange in March 2012.