Update on Takeover Bid for Lemur Resources

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Update on Takeover Bid for Lemur Resources

A replacement bidder's statement was lodged with the Australian Securities and Investments Commission on 1 July 2013 and announced by the ASX on 2 July 2013. The Company will send the replacement bidders statement to shareholders of Lemur Resources on 8 July. The replacement bidder's statement is available on Bushveld's website at www.bushveldminerals.com

The offer open period will commence from 8 July 2013 and the closing date will be 9 August 2013 unless Bushveld elects to extend the offer period.

CHESS will process takeover acceptance messages until 7.00pm (Sydney time) on 9 August 2013 or in the event that the offer is extended, such other time as may be notified by Bushveld to the market

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Enquiries: info@bushveldminerals.com