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Additional Information

Market:	AIM
Sector:	General Mining
EPIC:	KAH
Latest Price:	243.50 (0.21% )
52-week High:	301.00
52-week Low:	198.25
Market Cap:	620.35M

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Kalahari Minerals Full Kalahari Minerals profile here

Kalahari Minerals plc is an AIM and NSX listed resource company with uranium, gold, copper and other base metal interests in Namibia. The Company’s key value drivers are its holding of approximately 40% in ASX, TSX and NSX listed Extract Resources Limited and its circa 45% interest in AIM listed North River Resources plc.

Kalahari Minerals highly encouraged by Extract Resources progress at Rossing South

Friday, March 12, 2010

Kalahari Minerals’ (AIM: KAH) said it is highly encouraged by the news that its 40.41% owned associate Extract Resources (ASX, TSX: EXT) is on track with its Definitive Feasibility Study (DFS) for the world-class Rossing South deposit at the Husab uranium project in Namibia.

Extract updated investors stating that the DFS, which is expected to confirm the project's potential as one of the world's largest uranium mines, is progressing well. Extract aims to announce an updated Rossing South resource in Q3 2010 and it said that capital costs for the processing plant and annual operating costs are currently expected to remain in line with the preliminary cost estimates.

"Extract is making strong progress towards publishing the Rossing South Definitive Feasibility Study, and in turn, attributing additional value to its world-class Husab Uranium project”, Kalahari chairman Mark Hohnen commented. “In particular, it should be noted that the operating costs are unlikely to be significantly different to those stated in the scoping study announced in August 2009, indicating that the Rossing South project is still set to be a profitable, low risk, bulk tonnage, open pit mine with a mine life in excess of 20 years”.

According to Extract the size of the Rossing South mineralized system continues to grow with strong drilling results continuing from Zones 1 and 2. Furthermore, the company said there are encouraging indications of significant mineralization on the western limb of the Rossing South antiform and high grade mineralisation in both zones. Extract aims to announce an updated Rossing South resource in Q3, 2010.

The revised resource estimate will incorporate infill and extensional drilling that has been completed since July 2009. Extract expects the updated estimate to increase the overall size and confidence levels of the Rossing South resource.

“The resource continues to grow in size, which increases the time required by Extract to better define the ore body, and in particular to identify the high grade resource. This approach by Extract will ensure that an optimum development plan can be determined in order to maximise the true potential of this outstanding uranium project", Hohnen added.

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