Mr. Richard Osmond reports

ELEMENT 29 ANNOUNCES GRANT OF STOCK OPTIONS AND DEFERRED SHARE UNITS

Element 29 Resources Inc. has granted stock options and deferred share units in accordance with the company's incentive stock options plan and long-term incentive plan.

The company has granted an aggregate of four million stock options to certain directors, officers and consultants of the company. Each option is exercisable to acquire one common share of the company at an exercise price of $1.35 per share for a period of five years from the date of grant in accordance with the terms of the plan and subject to the policies of the TSX Venture Exchange.

In addition, the company has granted an aggregate of 428,750 DSUs to certain eligible persons of the company under the LTIP. The DSUs vest in accordance with the terms of the LTIP and will be settled in accordance with the provisions of the LTIP, subject to any required regulatory approvals.

All grants are subject to the acceptance of the TSX Venture Exchange and applicable securities laws.