ELEMENT 25 LIMITED — Capital/Financing Update 2009

Feb 9, 2009

ASX RELEASE

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10 February 2009

SECOND CASH PAYMENT OF $1M RECEIVED FROM MIDWEST

ASX CODE: MZM ISSUED SHARES: 41.69M 52 WEEK HIGH: $0.20 52 WEEK LOW: $0.02

Further to the announcement of 3 February 2009 Montezuma is p leased to announce that the second $1M cash payment in relation to the sale of iron ore rights at Mt Padbury has been received in full from Midwest Corporation Limited (“Midwest”).

CONTACT:

JUSTIN BROWN Managing Director +61 438 745 675

Under the terms of the sale agreement, Midwest will now commence exploration as soon as practicable. If Midwest defines a JORC Code compliant iron ore resource in excess of 10M tonnes grading over 50% Fe, Midwest will make a third payment of $4M cash to Montezuma.

BOARD:

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

KEY PROJECTS:

PEAK HILL (100%) Gold

Montezuma will also receive a 0.5% royalty on the gross proceeds of the sale of all iron ore grading between 30-50% Fe and a 1% royalty on the gross proceeds of the sale of all iron ore grading over 50%, the latter being first subject to the definition of a 10M tonne resource grading over 50% Fe.

This milestone is an important step in providing the Company with working capital to fund our ongoing acquisition and exploration strategies at the Peak Hill Gold Project (MZM 100%).

MT PADBURY (100% of gold) Gold, Manganese, Iron

CALLAWA (100%) Copper, Gold

TALGA (90%) Gold, VMS

More Information

ROBINSON RANGE (100%) Uranium

KEY SHARE POSITIONS:

AUVEX RESOURCES LTD 10,000,000 FPO Shares

BUXTON RESOURCES LTD 2,000,000 FPO Shares

Justin Brown

Managing Director Phone: +61 (8) 9228 4833 Mobile: 0438 745 675

The Information in this report that relates to exploration results is based on information compiled by Justin Brown, who is a member of the Australian Institute of Mining & Metallurgy. Mr Brown 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. Justin Brown consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.