ELEVRA LITHIUM LIMITED — Capital/Financing Update 2012

Jul 23, 2012

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DiamonEx Limited

ABN 26 091 951 978

Level 9 105 St Georges Terrace Perth WA 6000 Australia Telephone: +61 8 9226 0326 Facsimile: +61 8 9226 0327

Postal Address: GPO Box 2575 Perth WA 6001

24 July 2012

ASX ANNOUNCEMENT AUSTRALIAN SECURITIES EXCHANGE

RESTRUCTURING UPDATE

The Directors wish to announce that the binding terms sheet between DiamonEx Limited (“DON” or the “Company”) and Shumba Resources Limited relating to the acquisition of all the shares in Sechaba Natural Resources (Pty) Limited has been terminated.

Due to extremely difficult and turbulent global market conditions it was challenging to secure the required funding to finance the reverse takeover transaction.

The Directors of DON remain committed to realising value for the shareholders of DON and are examining other funding and development options to take the company forward.

Negotiations are currently taking place with parties in relation to a significant capital raising which will provide working capital for the Company. In addition, the Company is actively pursuing the acquisition of mineral exploration areas in Botswana.

The Directors hope to be in a position to update the market on these developments by the end of July.

Yours faithfully

Mark Gray Managing Director