ELEMENT 25 LIMITED — Capital/Financing Update 2007

Nov 11, 2007

ASX RELEASE

==> picture [571 x 30] intentionally omitted <==

==> picture [571 x 30] intentionally omitted <==

12 November 2007

ASX CODE: MZM ISSUED SHARES: 36.9M 52 WEEK HIGH: $0.36 52 WEEK LOW: $0.16

CONTACT:

Justin Brown Managing Director +61 8 9228 4833

BOARD:

Denis O’Meara: Chairman Terry Grammer: Non-Exec Ian Cornelius: Non-Exec

GOLD RESULTS FROM RC DRILLING AT MT PADBURY CONFIRM HIGH PRIORITY TARGET

• Continuity of gold system into fresh bedrock confirmed.

  • Best intersection of 16m @ 1.63 g/t incl. 8m @2.70 g/t .

• Mineralisation open along strike and at depth.

• Regional scale gold mineralised structure confirmed with 10km potential strike length.

Montezuma is pleased to announce that results from the maiden RC drilling programme at the Wood Creek Prospect within the Mt. Padbury Project have returned very encouraging results, confirming that the mineralised system continues at depth below the surface geochemical and RAB anomalies.

A total of 4 inclined (-60º) holes were drilled for 399m to test beneath a RAB anomaly that had previous defined a 150m wide corridor of gold mineralisation in two zones to a depth of approximately 30m.

KEY PROJECTS:

PEAK HILL (100%) Gold

The current programme has returned highly encouraging results, with significant mineralisation intersected within pervasively silicified, brecciated, weakly sulphidic (pyrite/chalcopyrite), quartz veined doleritic rocks within a regional scale northwest striking shear zone.

ROBINSON RANGE (70%) Uranium, Gold

CALLAWA (100%) Copper, Gold

TALGA (90%) Gold, VMS

PILGANGOORA (90%) Gold, Nickel

Significant intersections are as follows (2m composite samples):

Hole	Intersection	From(m)	Comments
MPRC001	16m @ 1.04 g/t**_incl. 6m@ 1.95g/_t **	14
MPRC002	16m @ 1.63 g/t	24
	incl. 8m@ 2.70g/t
	10m @ 1.11 g/t	48
	incl. 2m@ 4.26g/t
	20m@0.32g/t	80
MPRC003	2m@1.14g/t	22
	24m@0.42g/t	64
	14m@0.46g/t	102
MPRC004	No significant results

==> picture [483 x 333] intentionally omitted <==

The RC drilling has confirmed that the target shear zone is host to significant bedrock gold mineralisation, with approximately 10km of strike length as yet untested. Combined with strong alteration and sulphide mineralisation consistent with a potentially large system, the Wood Creek Prospect is confirmed as a high priority target within the portfolio. The target’s proximity to Peak Hill further adds to the potential commerciality of any significant resource along this trend.

Follow up drilling is being planned to define the strike extent of the gold mineralisation along this regional scale structure, with subsequent RC testing to further test the most prospective zones within the target corridor.

Justin Brown

Managing Director

Montezuma Mining Company Ltd

The Information in this report that relates to exploration results is based on information compiled by Liam Cornelius, who is a member of the Australian Institute of Mining & Metallurgy. Mr Cornelius is a geologist and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Liam Cornelius is an Executive Officer of South Boulder Mines Ltd and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

==> picture [482 x 715] intentionally omitted <==