KALAHARI MINERALS PLC 
By Kalahari Minerals plc, the AIM listed resource company, notes that Extract Resources Ltd (‘Extract’ or ‘the Company’), in which Kalahari’s subsidiary, Kalahari Uranium Limited, holds a 42.76% interest, has published a highly positive resource update for the world class Husab Uranium Project in Namibia, including a 33% increase in the total resource figure to in excess of 500 M.lbs U3O8 and a Maiden Measured Resources in Zones 1 & 2 of 84 M.lbs U3O8.
Kalahari’s Executive Chairman, Mark Hohnen, said, “These results continue to emphasise the global significance of the Husab Project which, on the publishing of these figures, is now known to house the world’s 4th largest uranium deposit. The new attributable resource number of more than 500 M.lbs U3O8 is a 33% increase on the previous figure. This, in tandem with the recent publication of the Definitive Feasibility Study, the Project’s multi zone potential, grade continuity, depth and access, all point to Husab being the most exciting undeveloped uranium deposit in the world.
“With the Mine Optimisation and Resource Extension (M.O.R.E.) ongoing, the potential for value accretion and further increase in the resource is clearly evident especially with further drilling at the Middle Dome, Pizzaro and Salem prospects to the south of Zones 1. The globally strategic nature of the assets, its projected development into a long life mine mean Husab will become the largest producer of uranium in Namibia, and one of the three largest producers in the world.
“We remain fully committed to the realisation of value at Husab and are excited about the development schedule and resultant news flow in the coming months. In particular we look forward to the generation of a revised mine plan based on the updated resource model, which is targeted for H2 2011, which is expected to result in a material increase in reserves and mine life.
“We remain positive about the sector in general and recognise the importance of uranium as a fuel to power the global economy. For instance, China remains one of the world’s largest consumers of uranium, with six nuclear power stations currently operating and a further 19 under construction or in development. We are therefore excited about the future and look forward to what we believe will be a bright future for the Company.”
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