EDN Elkedra

    ELKEDRA DIAMONDS NL

                                                        Level 1, 130 Hay Street

                                                                Subiaco WA 6008

                                              PO Box 8035, Subiaco East WA 6008

                                                     Telephone: +61-8-6380 2855

                                                     Facsimile: +61-8-6380 1644

                                                 E-mail: elkedra@elkedra.com.au

                                                   Web Site: www.elkedra.com.au

5 June 2007

Centralised Company Announcement Office

Australian Stock Exchange Limited

10th Floor, 20 Bond Street

Sydney NSW 2000

Dear Sir,

URAMET MINERALS LIMITED - $7M IPO CLOSED OVERSUBSCRIBED

Elkedra Diamonds NL is pleased to announce that the $7 million spin-off IPO of
Uramet Minerals Limited has closed oversubscribed.

Please refer to the attached media release made by Uramet Minerals Limited
today.

For and behalf of the Board


Max Cozijn

Company Secretary/Director

cc:DB/SR/T

MEDIA RELEASE 5 JUNE 2007

                            URAMET MINERALS LIMITED                            

                     A$7 MILLION IPO CLOSED OVERSUBSCRIBED                     



Uramet Minerals Limited ("Uramet") is pleased to report that its Initial Public
Offer ("IPO") has received very strong support from investors, enabling the IPO
to close early with the maximum subscription amount of A$7million having been
raised.

Uramet Managing Director Bill Hewitt said:

"We are extremely encouraged by the strong response from Elkedra Diamonds NL
("Elkedra") shareholders, institutional investors and the general public. We
believe this strong response is a reflection of the market's belief not only in
the strength of demand for uranium, but also in the prospectivity of Uramet's
targeted tenement package in the Georgina Basin (NT and Qld), as described in
Uramet's IPO prospectus.

I thank all those Elkedra shareholders who have chosen to invest in Uramet, and
I also warmly welcome our many new investors. The board and management of
Uramet look forward to your continued support."

Uramet has applied for admission to the Official List of ASX and anticipates
that trading in Uramet shares should commence on or before 19 June 2007, as set
out in Uramet's IPO prospectus. Holding statements will be despatched to
shareholders shortly.

As the IPO was oversubscribed, Uramet will return application monies to
unsuccessful applicants as soon as practicable.

                                     ENDS                                      

Released by:                                                      On behalf of:
                                                                               
Nicholas Read                                                   Mr Sam Randazzo
                                                                               
Read Corporate                                Chairman, Uramet Minerals Limited
                                                                               
Telephone: (08) 9388 1474                     For further information, contact:
                                                                               
                                                                    Bill Hewitt
                                                                               
                                                             Managing Director,
                                                                               
                                                            Uramet Minerals Ltd
                                                                               
                                                      Telephone: (08) 6380 2799
                                                                               
                                                     Website: www.uramet.com.au



END

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