Statement re: Announcement by Extract Resources

For immediate release: Friday 19 February 2010

                            Emerging Metals Limited                            

("EML", "Emerging Metals" or "the Company")

                Statement re: Announcement by Extract Resources                

The Directors of Emerging Metals Limited (AIM: EML), the mining company focused
on minor and emerging metals, would like to draw shareholders' attention to an
announcement issued yesterday by Extract Resources Limited ("Extract"), in
which Emerging Metals holds an interest through its 8.53 per cent interest in
AIM-listed Kalahari Minerals Plc ("Kalahari"), Kalahari having a 40.44 per cent
interest in Extract through its subsidiary its Kalahari Uranium Limited. In
this context, Emerging Metals also notes Kalahari's statement of 18 February
2010 also referring to Extract's announcement.

In Extract's statement of 18 February 2010, it announced further "outstanding
chemical assay results" from the Rossing South mineralised system, which is
part of Extract's Husab Uranium project. An abridged version of Extract's
announcement is set out below.

The Directors of Emerging Metals commented:

"EML shareholders will be pleased to see the announcements made yesterday by
Extract and Kalahari. The recent drill results by Extract indicate the
extraordinary potential of Rossing South. There is potential for the deposit to
support a major project which will be strategically important to future
customers vying for the long term supply of U308 as the significant build out
of uranium reactors plays out over the next decade and beyond. Extract is now
deploying 15 drill rigs, and 5 additional rigs focused on exploration targets
outside of the two main zones. The main zones are being intensively drilled.
This may result in the upgrade of the resource to `Indicated' status for
inclusion in the feasibility study, as stated in Extract's release. Of
particular note is the number of higher grade intercepts which could enhance
the project's economics. In view of the very positive progress being made by
Extract and the importance of that company to EML through its strategic holding
in Kalahari, the Directors encourage EML shareholders to continue monitoring
information about Extract and Kalahari."

A full copy of the Extract announcement, including illustrations and
appendices, can additionally be viewed on Extract's website
www.extractresources.com.

- Ends -

Contact details

  Emerging Metals   Blomfield Corporate Fox-Davies Capital          GTH        
      Limited         Finance Limited         Limited                          
                                                              Communications   
                                                                               
    Jim Mellon          Toby Howell      Daniel Fox-Davies       Toby Hall     
                                                                               
    Denham Eke             Peter                             Christian Pickel  
                      Trevelyan-Clark                                          
                                                                               
[phone]   [phone]     [phone]     [phone]  
                           0800                5200                8035        

               Rössing South: Outstanding Chemical Assay Results               

18 February 2010: Extract Resources Ltd (ASX/TSX/NSX: EXT), a uranium
exploration and

development company with projects in Namibia, today announced further
outstanding chemical

assay results from the Rössing South mineralised system, part of Extract's
world-class Husab

Uranium Project.

The results reflect the quality and global significance of the Husab Uranium
Project and underpin

Extract's commitment to the completion of a Definitive Feasibility Study and,
in due course, the

development of a mine at Rössing South.

Highlights:

  * Uranium mineralisation is open down dip and along strike, with further
    drilling expected to upgrade the resource classification and increase the
    size of this massive mineralised system.
   
  * 15 drill rigs currently operating at Rössing South with 14 dedicated to
    infill and resource drilling at Zone 1 and Zone 2.
   
  * Additional drill rigs being sourced and deployed to exploration drilling
    targets.
   
  * Multiple high grade chemical assay results from Zone 1 and Zone 2 drilling,
    including:
   
Hole ID                             From       To    Mineralised zones 
                                                                       
                                     (m)      (m)          (U3O8)      
                                                                       
Zone 1                                                                 
                                                                       
RRC595                               336      367      146m @ 639 ppm  
                                                                       
RRC600                               222      310      88m @ 650 ppm   
                                                                       
Including                            263      299      36m @ 1287 ppm  
                                                                       
RRC605                               65       127      62m @ 786 ppm   
                                                                       
Including                            78        99      21m @ 2003 ppm  
                                                                       
RRC641                               274      297      23m @ 1673 ppm  
                                                                       
RDD104                               152      176      24m @ 848 ppm   
                                                                       
Zone 2                                                                 
                                                                       
RDD072 262 361                       262      361      99m @ 1078 ppm  
                                                                       
Including                            351      361      10m @ 9373 ppm  
                                                                       
RDD087                               186      215      29m @ 1120 ppm  
                                                                       
Including                            205      215      10m @ 2805 ppm  
                                                                       
RDD102                               237      366     129m @ 1415 ppm  
                                                                       
Including                            286      354      68m @ 2363 ppm  
                                                                       
RRC588                               198      258      60m @ 838 ppm   
                                                                       
Including                            233      247      14m @ 2298 ppm  
                                                                       
RRC611                               162      203      41m @ 801 ppm   
                                                                       
RRC614                               182      257      75m @ 664 ppm   

Rössing South Exploration Update

Significant exploration potential remains at Rössing South. To realise this
potential and move a

step closer to development, the company is sourcing additional reverse
circulation (RC) and

diamond drill rigs to accelerate an enhanced drilling programme. The main focus
will be granite

hosted primary uranium mineralisation within the prospective zones (dashed
white lines)

highlighted in Figure 1.

Resource Definition Update - Zone 1 & Zone 2

The company has completed 249,810 metres of drilling at the Rössing South
project with

225,951 metres of this total dedicated to resource definition within Zone 1 and
Zone 2 (Figure 1).

Fourteen drill rigs, including eight RC rigs and six diamond core rigs are
completing infill and

resource extensional drilling to enable an upgrade of the resource to
`Indicated' status for

inclusion in the Definitive Feasibility Study. An additional RC rig is
continuing with sterilisation

drilling for mine infrastructure east of Zone 1 and Zone 2.

The latest round of chemical assay results were received from 75 drill holes
located throughout

Zone 1 and Zone 2. Multiple intercepts of high grade mineralization were
reported from drill

holes within both Zone 1 and Zone 2, highlighting the strong continuity of the
high grade

domains. Uranium mineralisation remains open along strike and down dip with
further drilling

expected to increase the known dimensions of this massive mineralised system.

A full list of recently received and previously unreported chemical assay
results is shown in

Appendix 1.

About Extract Resources

Extract Resources Ltd is an Australian-based uranium exploration and
development company

whose primary focus is in Namibia. The company's principal asset is its
100%-owned Husab

Uranium Project which contains two known uranium deposit areas, Rössing South
and Ida Dome.

Extensive exploration potential also exists for new uranium discoveries in the
region.

For further information, please contact:

Steve Galloway

Chairman

+ 264 61 227950

Richard Henning

Investor Relations

[phone]

[e-mail]