Minemakers Limited: Termination of Verte Mandate

TORONTO, ONTARIO -- (Marketwire) -- 05/24/11 -- Minemakers Limited(TSX: MAK)(ASX: MAK)(NSX: MMS) advises that Minemakers and Verte Group Ltd have agreed to an early termination of the agreement between the two companies concerning facilitation of pre-EPC and EPC Asian investment in Minemakers to fund development of the Wonarah phosphate deposit.

The termination is effective immediately.

Minemakers is now free to pursue alternative funding and development options for the Wonarah phosphate deposit.

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

Manager (Vic)

0407 822 319