ELEMENT 25 LIMITED — Capital/Financing Update 2011

Oct 10, 2011

ASX RELEASE

11 October 2011

ASX CODE: MZM ISSUED SHARES: 67.24M 52 WEEK HIGH: $0.95 52 WEEK LOW: $0.25

CONTACT:

JUSTIN BROWN Managing Director +61 438 745 675

BOARD:

Seamus Cornelius: Chairman Justin Brown: MD John Ribbons: Non-Exec

KEY PROJECTS:

BUTCHERBIRD (100%) Manganese, Copper

PEAK HILL (85-100%) Gold DURACK (earning 85%) Gold, Copper

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

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KEY SHARE POSITIONS:

AUVEX MANGANESE LTD 3,750,000 FPO Shares

BUXTON RESOURCES LTD 3,010,000 FPO Shares

LITHEX RESOURCES LTD 1,525,000 FPO Shares

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EXTERRA RESOURCES LTD 2,000,000 FPO Shares

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RC DRILLING PROGRAMME COMMENCES ON MULTIPLE BUTCHERBIRD COPPER TARGETS

• Previously completed IP, Aeromagnetic and EM surveys highlighted numerous priority copper/cobalt targets over approximately 6km of strike of the Butcherbird shear zone.

• RC Drilling programme comprising approximately 3 - 5,000m has commenced to test these target areas for mineralisation.

• • Programme will also follow up copper sulphide mineralisation intersected beneath the Butcherbird Copper Mine.

Montezuma Mining Company Ltd (“Montezuma” or “Company”) is pleased to advise that RC drilling has commenced at several priority copper targets within the Company’s 100% owned Butcherbird Manganese/Copper Project. The targets were highlighted by the recently completed ground IP geophysical survey in addition to previously acquired aeromagnetic and airborne EM data.

The geophysical anomalies lie within a >6km striking corridor along or adjacent to the Butcherbird shear zone. Previously reconnaissance drilling by Montezuma at one location along this shear zone confirmed the presence of significant copper sulphide mineralisation with best results from the previous programme including 18m @ 0.63% Cu and 859ppm Co from 154m (including 1m @ 2.43% Cu and 0.55% Co) and 10m @ 0.82% Cu and 581ppm Co from 180m (including 3m @ 1.94% Cu and 0.12% Co) in hole 10BBC0014.

The current drilling program comprises approximately 25 holes for 3,500m, spread over multiple targets areas along the prospective corridor.

An Aboriginal Area Survey clearance has been completed over the main target areas which will allow the Company to expand the scope of the programme with early exploration success.

If the planned reconnaissance programme further confirms the occurrence of copper sulphides along the shear zone, the Company is of the view that this may represent a significant new discovery and further resources will be brought to bear to accelerate exploration for copper within the project.

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Figure 1: Plan view of the resistivity data from the recently completed gradient array IP survey highlighting several key target areas currently targeted for drill testing.

Investor Coverage

Recent investor relations, corporate videos and broker/media coverage on the Company’s projects can be viewed on the Company’s website at www.montezumamining.com.au.

About Montezuma Mining Company Ltd

Listed in 2006, Montezuma (ASX: MZM) is a diversified explorer primarily focused on manganese, copper and gold. Montezuma has a 100% interest in the Butcherbird Manganese/Copper Project and an 85-100% interest in the Peak Hill and Durack Gold Projects in the Murchison region of Western Australia.

More Information

Justin Brown

Managing Director

Phone: +61 (8) 6315 1400 Mobile: +61 438 745 675

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 who is a full time employee of Montezuma Mining Company Ltd. 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 Australasian 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.