ABN 48 116 296 541

EXCHANGE RELEASE SANDPIPER PHOSPHATE PROJECT NAMIBIA LODGEMENT OF ENVIRONMENTAL IMPACT ASSESSMENT AND ENVIRONMENTAL MANAGEMENT PLAN REPORT 13 January 2012

Minemakers Limited ("ASX & TSX: MAK; NSX: MMS"), UCL Resources Limited ("ASX: UCL"), and Tungeni Investments c.c. ("Tungeni"), the joint venture participants in the company Namibian Marine Phosphate (Pty) Limited ("NMP"), are pleased to announce the lodgement, with the relevant Namibian Government Ministries, of the Draft Environmental Impact Assessment ("EIA") and the Draft Environmental Management Plan ("EMP") report for the marine component of the Sandpiper Phosphate Project.

In accordance with the terms of the granted Mining Licence ("ML 170") and in compliance with the Namibian Environmental Management Act (No. 7 of 2007) ("the Act"), NMP lodged the EIA and EMP on 12 January 2012 at the Namibian Ministries of Mines and Energy and Environment and Tourism. The EIA and EMP has been prepared by J Midgley and Associates in association with Namibian environmental consultants Enviro Dynamics and externally reviewed by CSIR Consulting and Analytical Services - Environmental Management Services ("CSIR").

The key issues addressed in the EIA were determined through a scoping process as prescribed by the Act that included the participation of government authorities, the public, business, NGO's and the EIA team. The following aspects were covered in the EIA: