Minemakers Limited advises that it has reached agreement with...

Minemakers Limited advises that it has reached agreement with RAB Special Situations
(Master) Fund Limited (“RAB”) to purchase the shareholding in Union Resources Limited
(“Union”) held by RAB.
The deal which will be completed shortly was based on the issue of one ordinary
Minemakers share for every 80 Union shares held by RAB, offset by a cash component of
$125,000, and will result in the issue of 1,150,050 new Minemakers shares.
Union and Bonaparte Diamond Mines NL (“Bonaparte”) each hold a 42.5% equity in a joint
venture for marine phosphate evaluation and development in offshore Namibia. Minemakers
is wrapping up acquisition of Bonaparte.
On 2 July 2009, Minemakers advised that it was purchasing a 9.64% stakeholding in Union
from Lundin Mining AB. The acquisition of the RAB stake will take Minemakers’ ownership
level in Union to about 14.9%.