The Australian youth international, who can operate at either centre-back or left-back, has notched up 18 appearances for the Stags since joining in January.
Elder played a pivotal role in Mansfield’s run of four wins in seven league games over February and March, helping his side to move six points clear of the League 2 drop-zone.
Notching up 90 minutes for Adam Murray’s men in their 2-1 league defeat to high-flying Plymouth Argyle last time out, Elder could next be involved when his side host Tranmere Rovers on Tuesday.
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