ELEVRA LITHIUM LIMITED — Capital/Financing Update 2008

Jun 2, 2008

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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 STOCK EXCHANGE

3 June 2008

Shareholder Share Purchase Plan (SPP)

DiamonEx has decided to offer all shareholders up to AUD5,000 worth of new fully paid ordinary shares in the company, without brokerage costs, for 23.5 cents per fully paid ordinary share. The maximum number of shares that may be applied for is 21,275.

Funds raised will provide additional working capital for the Company during the ramp up to full production at the Lerala Diamond Mine.

As it is the intention of DiamonEx to ensure that the offer is available to all shareholders of DiamonEx, including the holders of the Depositary Interests traded on the Alternative Investment Market of the London Stock Exchange ( AIM ), the offer under the SPP will be capped at a total value of AUD 4,000,000 in order to ensure that the SPP can be made to shareholders in Diamonex resident in the UK without the requirement to issue a full prospectus document. If the total funds received by DiamonEx in response to the SPP exceed the stated cap, then DiamonEx will pro-rata the number of shares to be issued to each shareholder so that the total funds raised shall not exceed AUD 4,000,000.

Terms of the SPP and Key Dates

The proposed timetable for the offer of shares under the SPP is as follows:

• Record date for entitlements: 4 June 2008

• Closing date for applications: 30 June 2008

• Issue and allotment of shares: 4 July 2008

The right to participate in the SPP is available to all shareholders who are registered as holders of fully paid ordinary shares on either the Australian or Botswana share register or the United Kingdom Depositary Interest Register, as at 5.00 pm, on 4 June 2008 (in each applicable time zone). The offer is non-renounceable and will close on 30 June 2008. The SPP Offer Document, Application Form and detailed terms and conditions will be forwarded to shareholders as soon as practicable following the record date specified above.

For further information contact:

Dan O’Neill	Tel: + 61 7 37208944
Managing Director	Fax: + 61 7 37208988
Email: doneill@diamonex.com.au	Mob: + 61 4 07596942
Mark Gray	Tel: + 61 7 37208944
Corporate Development	Fax: + 61 7 37208988
Email:mgray@diamonex.com.au	Mob: + 61 4 12899979