Elemental Minerals Ltd. - The company is pleased to announce the filing of its final prospectus and announces pricing of initial public offering the proceeds of which will be used to develop Sintoukola Potash Project in the Republic Of Congo

PERTH, Australia, Aug. 11, 2011 /CNW/ --
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/

PERTH, Australia, Aug. 11, 2011 /CNW/ - Elemental Minerals Ltd. (ASX:
ELM) ('Elemental' or the 'Company') has obtained a receipt for its
final prospectus from the securities regulatory authorities in each of
the provinces of Canada, excluding Quebec, in connection with its
initial public offering (the 'IPO') on the Toronto Stock Exchange (the
'TSX') of 42,470,000 ordinary shares at a price of C$1.26 per share
(approximately A$1.25 per share). The offering will generate total
gross proceeds of C$53,512,200. The underwriters have also been granted
an over-allotment option to purchase up to an additional 15% of the
offering exerciseable for thirty days after the Closing Date (as
defined herein).

The Company intends to use the net proceeds of the IPO for further
development of the Sintoukola Potash Project (Figure 1) including:
leading to completion of the pre-feasibility study; additional seismic
and drilling exploration and further geological analysis and for
general corporate purposes.

The closing of the offering is scheduled to occur on August 16, 2011
(the 'Closing Date'), and is subject to the satisfaction of customary
closing conditions. Elemental has received conditional approval for the
listing of its common shares on the Toronto Stock Exchange (TSX) under
the symbol 'ELM'.

The offering is being made through a syndicate of underwriters co-led by
BMO Capital Markets and Renaissance Capital, and including Stifel
Nicolaus Canada Inc., National Bank Financial Inc., RBC Capital
Markets, and CIBC. Renaissance Capital is not registered to sell
securities in any Canadian jurisdiction and, accordingly, will only
sell securities outside of Canada on a private placement basis.

A copy of the final prospectus has been filed on SEDAR and is available
for review under Elemental's profile at www.sedar.com.

Elemental Managing Director, Iain Macpherson, commented:

'This listing on the TSX and this very successful raising is a major
achievement for the Company and indicates the quality of the Sintoukola
Project and the support from our investors in the current market
conditions. This will allow for the rapid development of the project
through the pre-feasibility phase which is expected to be completed by
the end of Q1 2012 and provides a solid foundation from which to
complete the bankable study planned for delivery Q1 2013.'

The securities referred to in this announcement have not been and will
not be registered under the United States Securities Act of 1933, as
amended (the 'U.S. Securities Act'), or any state securities laws and
may not be offered or sold within the United States unless registered
under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available. This press release
does not constitute an offer to sell or a solicitation of an offer to
buy any of these securities within the United States.

Forward-Looking Statements:

This press release contains statements that are 'forward-looking'.
Generally, the words 'expect,' 'intend,' 'estimate,' 'will' and similar
expressions identify forward-looking statements. By their very nature,
forward-looking statements are subject to known and unknown risks and
uncertainties that may cause our actual results, performance or
achievements, to differ materially from those expressed or implied in
any of our forward-looking statements, which are not guarantees of
future performance. Statements in this press release regarding the
Company , which are not historical facts, are 'forward looking'
statements that involve risks and uncertainties, such as to anticipated
closing of the offering described herein including words to the effect
that the Company or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements. Investors are cautioned
not to place undue reliance on forward-looking statements, which speak
only as of the date they are made.

To view Figure 1: Location of Sintoukola Potash Permit and historic drill hole
locations please visit: http://files.newswire.ca/270/ELMmap.pdf

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/August2011/11/c3002.html

For further information in respect of the Company's activities, please contact:

Management Office: 27 11 469 9140

Company website: www.elementalminerals.com.au