Update: Take Over Offer for Lemur Resources

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Regulatory Announcement: Bushveld Minerals bid for Lemur Resources ("Lemur")

Bushveld Minerals Limited (AIM: BMN), a mineral development company focused on iron and tin projects in southern Africa, provides an update with regard to dispatching the bidder's statement to Lemur shareholders in relation to its offer for all of the ordinary shares in Lemur that was lodged on 15 May 2013.

The Company confirms that it will not dispatch the Bidder's Statement to Lemur's shareholders. However, it will dispatch a replacement bidder's statement to Lemur's shareholders after it has addressed the concerns the Australian Securities and Investment Commission ("ASIC") has with the Bidder's Statement. Bushveld is engaging with relevant experts to address these concerns and will dispatch a replacement bidder's statement as soon as possible.

Enquiries: info@bushveldminerals.com

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Notes to the editor

Bushveld Minerals Limited is a mineral development company focused on the Bushveld Iron Ore Project and the Mokopane Tin Project, both located on the northern limb of the Bushveld Complex, South Africa.

The Company was admitted to the Alternative Investment Market of the LSE in March 2012.