TORONTO, ONTARIO--(Marketwire - May 24, 2011) - 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

Contact Information:

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