Beta Minerals Inc.
TSX VENTURE : BMI

Beta Minerals Inc.

December 19, 2008 08:00 ET

Beta to Adjourn Annual General and Special Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2008) - Beta Minerals Inc. ("Beta") (TSX VENTURE:BMI) hereby announces that the annual general and special meeting of the shareholders of Beta with respect to approval of the previously announced transaction to acquire all of the issued and outstanding securities of Erdene Materials Corporation (the "Transaction") and other matters, previously scheduled to occur on December 19, 2008 will be adjourned. The adjourned meeting is scheduled to be held at 10:00am MST on January 16, 2009 at the offices of Davis LLP in Calgary, Alberta. Proxies for the adjourned meeting will be valid if completed and delivered to the Corporation's transfer agent, Computershare Investor Services Inc., by 10:00am MST on January 14, 2009.

For more information regarding the Transaction please see Beta's previous press releases of July 17, 2008 and November 7, 2008 and the Circular which is available at www.sedar.com.

Completion of the Transaction is subject to a number of conditions, including, the Exchange's acceptance and shareholder approvals. The Transaction cannot close until the required shareholder approvals are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the change of business may not be accurate or complete and should not be relied upon. Trading in the securities of Beta should be considered highly speculative.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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