Minemakers Limited: Media Speculation Regarding an Indian MOU for Wonarah

TORONTO, ONTARIO -- (Marketwire) -- 05/18/11 -- Minemakers Limited (TSX: MAK)(ASX: MAK)(NSX: MMS) ('Minemakers' or 'the Company') has been made aware of Indian press speculation that an MOU is shortly to be signed with NMDC Limited ('NMDC'), a State-owned enterprise of India, in relation to the development of Minemakers' wholly owned Wonarah phosphate project.

Minemakers confirms that it has had confidential discussions with representatives of NMDC about the development of the Wonarah project and has furnished information for the purposes of those discussions. Those discussions are continuing.

Minemakers will provide information to the market in compliance with its continuous disclosure obligations if and when an outcome to those discussions is reached.

The Company currently has an agreement with Verte Group Pty Ltd until 31 August 2011 with respect to pre-EPC and EPC Asian investment in Minemakers.

Andrew Drummond, Managing Director

ABN 48 116 296 541

Contacts:

Minemakers Limited

Mr Andrew Drummond

Managing Director

61 8 9264 7000

61 8 9264 7099 (FAX)


Minemakers Limited

Mr Dean Richardson

Corporate Business and Investor Relations Manager

61 8 9264 7000

61 8 9264 7099 (FAX)
www.minemakers.com.au


Collins Street Media

Mr Ian Howarth

Managing Director

0407 822 319