Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration 22 June 2010 Kalahari Minerals plc (Kalahari) Extract Chairmans Address to Shareholders Kalahari Minerals plc, the AIM listed resource company, announces that Extract Resources Limited (Extract or the Company), in which Kalaharis subsidiary, Kalahari Uranium Limited, holds a 40.9% interest, held its General Meeting earlier today and all resolutions were duly passed.

Stephen Galloway, Chairman of Extract, made the following address at the General Meeting: "It is with pleasure that I have the opportunity today to update you on the considerable progress that Extract has made since I last addressed shareholders at the Annual General Meeting, in November 2009. Having discovered the R�ssing South and related uranium deposits within the Husab Project in Namibia, Extract is rapidly moving from an exploration company to becoming a world-class uranium producer. With expected production levels of 15Mlbs of uranium oxide per year, Extract is in a unique and privileged position, with the development of R�ssing South on track to become one of the largest, stand alone uranium mines in the world. Achieving our objective of becoming a major uranium producer of global significance is no simple task and as such Extract has been a hive of activity over the first six months of calendar 2010.

I would like to take this opportunity to highlight just some of the key developments:
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We have recently appointed a new management team for Extract, including CEO and Managing Director, Jonathan Leslie, whom I have already introduced, Chief Financial Officer Peter Sydney-Smith, who sends his apologies, and Company Secretary, Siobhan Lancaster, who is here today.

The three of them, each holding critically important positions within the Company, bring outstanding experience and credentials to your company.

These appointments are in addition to the Swakop Uranium executive team which we are building under the leadership of Norman Green, whom I introduced at the AGM.
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To reflect the evolution of the Company, there have also been some board changes in recent months.

Rio Tintos representative director, Chris McFadden, and Polos representative director, Stephen Dattels, resigned from the board in April.

Kalahari Minerals, Extracts largest shareholder, appointed an additional representative director, Alastair Clayton.

Ron Chamberlain was appointed as a Non-executive Director and Jonathan Leslie joined the board as Managing Director on 9 April 2010.

Like the management team, the collective credentials of the Extract Board is a major strength of the Company, and we believe we have the right blend of experience to deliver on our objective of becoming a major uranium producer.
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Extract has continued to report exceptional chemical assay drill results.

Since November 2009 we have increased the number of drill rigs on site from 13 to 19.

Our aim is to update the market with a new resource estimate in Q3 2010, and as announced last week, this remains on schedule. The main objective of the next resource update is to upgrade the current Zone 1 and Zone 2 inferred resources, to predominantly Indicated status, so that reserves can be defined for the Definitive Feasibility Study (DFS).
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The technical team, led by Norman Green, is working diligently towards the completion of the R�ssing South Definitive Feasibility Study, which we aim to announce to the market in Q4, 2010.

Again, this timetable remains on track, and would be one of the quickest ever globally, for a project of this scale and complexity. As part of this Definitive Feasibility Study, Extract continues to liaise with key stakeholders, including the Namibian government, in relation to the development of a mine at R�ssing south.

I should add that in spite of recent media speculation I can confirm that dialogue between the Namibian government, Namibian stakeholders and Extract Resources, remain open and positive.
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Whilst the board is committed to the R�ssing South project being developed solely by Extract, we continue to work with Rothschild to assess potential partnership opportunities that could deliver additional value to the development process.

As part of this process, Extract remains in confidential discussions with potential partners.

These discussions are ongoing.
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The Company also announced last week that work on the environmental impact assessment and management plan is proceeding on schedule, in parallel with preparation for the mining licence application.

Together with the DFS, the outcomes from this work will be used to support a mining licence application over R�ssing South before the end of 2010.

This is an extremely positive position for the Company and underpins the hard work by the management team to achieve our objectives.
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Results from the recently completed pilot plant testwork program are still being returned and interpreted.

Available results have been encouraging and provide further support for the base case flow sheet. Work has just commenced on site this week to excavate a bulk sample from the northern end of Zone 1 to be used in comminution testwork.

This will be the first explosive rock breaking at R�ssing South.
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And finally, Extract still has a healthy cash position to deliver on its plans.

Extract had $86.7 million in cash as at 30 March 2010. In conclusion, I would like to reiterate that Namibia has a world class mining industry with an established mining code and government support.

The international interest in Namibia and its uranium assets in particular, is well documented, with two new uranium mines in the last 5 years and a third mining licence being awarded. Extract is proud to have a strong relationship with the Namibian government and its relevant organisations, each of which continue to be supportive of our development plans and initiatives at all levels. There is open and regular dialogue between Extract and the Namibian government, including at the highest level, ensuring that the Namibian authorities remain abreast of all of Extracts developments.

This includes regular updates regarding the Definitive Feasibility Study. Extract will remain extremely busy for the remainder of 2010, as we strive to deliver some key milestones for the development of this company; in Q3 2010, the resource upgrade of Zone 1 and Zone 2, followed by the Definitive Feasibility Study and mining license application in Q4. I would like to take this opportunity to thank the board and management for their commitment to realising the full potential of the world class R�ssing South project.

I would also like to thank the Namibian government, stakeholders and our shareholders for their ongoing support. Thank you again for your time and attention.

We will now move to the formal business of the meeting." * * ENDS * * For further information please visit www.kalahari-minerals.com or contact: Mark Hohnen Kalahari Minerals plc Tel: +44 (0) 20 7292 9110 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 listed resource company with uranium, gold and base metal interests in Namibia.

Its key investment is its 40.9% 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 550 M lbs U3O8. Kalaharis other key investment is its circa 44.7% 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