Following the recommended cash offer for the Company by Taurus Mineral Limited ("Taurus") (a company formed at the direction of CGNPC Uranium Resources Co., Ltd. ("CGNPC-URC") and the China-Africa Development Fund ("CADFund")) (the "Offer") being declared unconditional in all respects and, as at the 28 February 2012 being the date the Offer closed, Taurus having received valid acceptances in respect of approximately 98 per cent. of the existing issued share capital of Kalahari, the Company confirms that pursuant to AIM Rule 41 it has applied to the London Stock Exchange for the cancellation of admission to trading of its ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") on AIM ("Cancellation").

Kalahari confirms that shareholder consent in general meeting of the Company, which would otherwise be required pursuant to AIM Rule 41, will not be required as the application for Cancellation has been made by Kalahari after the Offer has been declared wholly-unconditional and after Taurus has become the beneficial owner of, or has received valid acceptances in respect of, more than 75 per cent. of the issued share capital of Kalahari.

Cancellation of the AIM quote, which is conditional upon Taurus owning 100 per cent. of the Ordinary Shares upon successful completion of the compulsory acquisition which is expected to conclude on 3 April 2012 as announced by Taurus on 20 February 2012, is expected to be effective from 7.00am on 4 April 2012 or as soon as practicable thereafter.


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