ELEVRA LITHIUM LIMITED — Capital/Financing Update 2007

Jul 12, 2007

==> picture [36 x 72] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 4] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 4] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 4] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [4 x 5] intentionally omitted <==

==> picture [5 x 5] intentionally omitted <==

DiamonEx

Limited ABN 26 091 951 978

Level 1 349 Coronation Drive Milton Qld 4064 Australia Telephone: +61 7 3720-8944 Facsimile: +61 7 3720-8988 e-mail : diamonex@diamonex.com Postal Address: PO Box 1357 Milton Qld 4064

ASX ANNOUNCEMENTS AUSTRALIAN SECURITIES EXCHANGE

13 July 2007

FINAL FUNDING TO TAKE LERALA DIAMOND MINE INTO PRODUCTION

• Botswana convertible bond in place

• International investor support for equity share placement being finalised

• First diamond production early 2008

DiamonEx Limited today announced final funding arrangements to take the Lerala diamond mine in Botswana into production.

Fleming Advisors (Pty) Limited a Fleming Group company has arranged underwritten funding for a *BWP 50 million (approx. A$10 million) fixed rate convertible bond to be issued by DiamonEx Limited.

DiamonEx is also finalising a share placement of approximately A$8 million to international institutional investors through London-based broker Fox Davies Capital Limited. This placement will be subject to shareholders’ approval.

Announcing the funding arrangements today, DiamonEx Chairman, Mr Greg King, said:

“The conclusion of these funding arrangements will enable the company to complete the development of the Lerala mine on schedule, with mining to start late in 2007 and first production due in early 2008.”

Lerala is scheduled to produce an average of 330,000 carats per year for 10 years.

Funding announced today will be utilised to complete the Lerala diamond mining project and for exploration and working capital. A funding proposal that had been under discussion with Babcock & Brown will now not proceed.

Mr King continued: “We are delighted in the confidence shown in DiamonEx and the Lerala project not only by significant Australian and international investors, but also by investors in Botswana.”

“Shareholders will be pleased to note that, in a condition designed to minimise dilution of existing shareholders, only 10 per cent of the convertible bond announced today can be converted into equity,” Mr King added.

*BWP – Botswana pula

• 2 -

Funding arrangements announced today are in addition to that announced previously:

• A$2.5 million share placement (December 2006)

• 5 million Euro senior loan facility with the European Investment Bank (April 2007)

• A$4.2 million share placement to institutions and sophisticated investors (April 2007)

• A$1.5 million shareholder purchase plan (May 2007)

DiamonEx will be seeking admission to the Alternative Investment Market (AIM) of the London Stock Exchange later this year. RFC Corporate Finance Limited has been appointed Nominated Advisor for the listing. Mr King said that the AIM listing is expected to provide access to trading in the Company’s shares in London for international institutional investors that are familiar with investment opportunities offered by diamond production projects in African countries such as Botswana.

For further information, contact:

Dan O’Neill (Managing Director) Greg King (Chairman) +61 7 37208944 (Office) +61 7 37208944 (Office) +61 7 37208988 (Fax) +61 7 37208988 (Fax) +61 407596942 (Mobile) +61 411473730 (Mobile) diamonex@diamonex.com.au (Email) diamonex@diamonex.com.au (Email)

Daniel Fox-Davies (Fox-Davies Capital) Glen Parsons (RFC Corporate Finance Ltd) +44 (0)207 936 5220 (Office) +61 2 92500000 (Office) +44 (0)207 936 5201 (Fax) +61 2 92500001 (Fax) sales@fdcap.com (E-mail) glen.parsons@rfc.com.au (E-mail)

About Fleming Group

The Group flag ship company Fleming Asset Management Botswana was founded in 1994 (as Ngamiland Asset Management) as a locally incorporated asset management business to provide client specific portfolio management services both in Botswana and internationally. Fleming Asset Management Botswana currently manages approximately $1 billion funds on behalf of Botswana and International institutions. Other Fleming Group companies include Fleming Vanar Asset Management in Canada, Fleming Asset Management Australia and Fleming Advisors.

About Fox Davies Capital

Fox-Davies Capital is a Member of the London Stock Exchange and specializes in providing Corporate Finance advisory, broking and capital raising services to AIM listed and international resource companies. FDC provides its corporate clients with access to investors in the UK, European and North American capital markets and has an established track record in emerging markets particularly in the Former Soviet Union, Africa and Asia

About RFC Corporate Finance Limited

RFC Group is an investment and advisory business founded in 1985, which operates globally from offices located in Sydney and Perth, Australia. RFC has longstanding investment banking experience in the resource, energy and industrial sectors. In April 2002 RFC Corporate Finance became the first Australian based approved nominated adviser for the Alternative Investment Market of the London Stock Exchange. RFC currently acts as Nomad for 15 resource sector companies that are listed on AIM

DiamonEx is a Brisbane, Australia-based specialist diamond company developing a 330,000 carat per year diamond mine based on an established 3.7 carat resource at Lerala in eastern Botswana, within an area that produces 30% of the world’s diamonds by value.