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Kalahari Minerals plc - Rossing South Drilling and Exploration Update



Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration 11 January 2010 Kalahari Minerals plc (Kalahari) Rossing South Drilling and Exploration Update
Kalahari Minerals plc, the AIM listed resource company with uranium, gold and base metal interests in Namibia, is pleased to provide an update published by Extract Resources Ltd (Extract or the Company), in which Kalaharis subsidiary, Kalahari Uranium Limited, holds a 40.44% interest, on the large, high grade, granite hosted uranium system at Rossing South, part of Extracts world-class Husab Uranium Project.
Kalahari Executive Chairman Mark Hohnen said, "The infill resource definition drilling continues at pace, at Rossing South, as Extract looks rapidly to advance the project and complete the feasibility study. The ongoing results at Zones 1 & 2 continue to return high grade intercepts, confirming the world class nature of the resource and its future production potential."
Extract Announcement:
Rossing South Drilling and Exploration Update
11 January 2010: Extract Resources Ltd (ASX/TSX/NSX: EXT), a uranium exploration and development company with projects in Namibia, today announced updated exploration results from the massive Rossing South mineralised system, part of Extracts world-class Husab Uranium Project.
Highlights:
* Infill resource definition drilling continues to return high grade intercepts
* All zones of uranium mineralisation still open at depth and along strike, in at least one direction.


* 13 drill rigs operating on site, with additional rigs due on site in the next 4 to 6 weeks to accelerate exploration and resource definition efforts.
* Encouraging results from the RadonX survey programme
The latest round of chemical assay results continues to set Rossing South apart as a truly impressive uranium project.


Extract Resources Chairman, Mr.

Steve Galloway, said: "We are pleased that we continue to return results with positive surprises at Rossing South - the quality of the original discovery continues to be confirmed, and if anything, gets better.

We are conscious of the need to expand our regional exploration programme.

Rossing South as defined for our feasibility study represents just a fraction of the prospective area. The RadonX survey results give us a useful indicator of where we should focus future exploration drilling, and the company is committed to this work.
He added "With the feasibility study on-going and enough cash to fund a new exploration programme - the company is well positioned to add substantial resources to our existing inventory over the next six months and beyond."
Chemical assay results not previously reported from recent drilling at Rossing South include:
Hole ID From (m) To (m) Mineralised zones (U3O8) Zone 1
RRC508 98 159 61m @ 686ppm RRC509 108 203 95m @ 665ppm RRC533 296 409 113m @ 382ppm RRC591 209 233 24m @ 2349ppm Zone 2
RRC489 135 185 50m @ 1618ppm RRC528 136 227 91m @ 854ppm RRC576 146 211 65m @ 1125ppm RRC490 155 193 38m @ 1699ppm RRC584 120 195 75m @ 770ppm RDD086 207 230 23m @ 2417ppm including 214 217 3m @ 11034ppm Zone 1&2 gap
RDD077 453 486 33m @ 1487ppm
A complete table of new results is included in Appendix 2.
About Extract Resources Extract Resources Ltd is an Australian-based uranium exploration and development company whose primary focus is in Namibia.

The Companys principal asset is its 100% owned Husab Uranium Project which contains two known uranium deposit areas, Rossing South and Ida Dome.

Extensive exploration potential also exists for new uranium discoveries in the region.
* * ENDS * *
For further information please visit www.kalahari-minerals.com or contact: Mark Hohnen Kalahari Minerals Plc Tel: +61 (0) 8 9389 4488 Simon Raggett Strand Hanson Limited Tel: +44 (0) 20 7409 3494 Stuart Faulkner Strand Hanson Limited Tel: +44 (0) 20 7409 3494 Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409 3494 Richard Chase Ambrian Partners Ltd Tel: +44 (0) 20 7634 4700 Rory Scott Mirabaud Securities LLP Tel: +44 (0) 20 7878 3360 Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177 Susie Callear St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
Notes to Editors:
Kalahari Minerals Plc is an AIM and NSX resource company with uranium, gold and base metal interests in western and eastern central Namibia. Its key investment is its circa 40% holding in ASX, TSX and NSX listed Extract Resources Limited (www.extractresources.com), which is developing the Husab Uranium Project, strategically located directly south of Rio Tintos producing Rossing Mine.

Work is focussing on three main prospects within the project area, Rossing South, Ida Dome and Hildenhof, and results continue to underpin the prospectivity of the region, particularly following the world class Rossing South discovery. Extract has reported a JORC compliant combined Husab Resource (Global Resource) in excess of 292 M lbs U3O8 at a grade of 439 ppm of which 267 M lbs U3O8 at a grade of 487 ppm is from the two zones at Rossing South at 100 ppm U3O8 cut-off.

Importantly these are both open ended at depth and along strike.

Kalahari believes Extract has the ground and potential to deliver on Kalaharis estimates of a resource in the region of 500 M lbs U3O8.

Kalaharis other key investment is its circa 44.9% holding in North River Resources Plc, an AIM listed emerging southern African focussed multi commodity resource development company.


Susie Callear St Brides Media & Finance Ltd Chaucer House 38 Bow Lane London EC4M 9AY T: +44 (0) 207 236 1177 | M: +44 (0) 7976 749 561 | F: +44 (0) 207 236 1188 | www.sbmf.co.uk
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