Status of EXT Namibian leases as at 02/04/2009 (Namibian Dept Mines data)
Pending (now granted as per today's announcement) Base and rare metals, Industrial minerals, Nuclear fuel minerals and Precious metals EPL 14/2/1/4/2/3138 Erongo G Swakopmund Swakop Uranium (Pty) Ltd 062-573624
Pending Base and rare metals, Nuclear fuel and Precious metals EPL 14/2/1/4/2/3139 Erongo G/H Swakopmund /Karibib Swakop Uranium (Pty) Ltd 062-573624
Note though that the application renewal for EPL 3328 (current to 02/10/2008) and EPL 3139 (initial application) must still be in the pipeline as of 02/04/2009
South Perth, Western Australia – May 1 2008 – Extract Resources (“Extract” or “the Company”), (TSX / ASX :EXT), a Uranium exploration company with projects in Namibia, Africa, today announced that the Ministry of Mines and Energy of Namibia has awarded the renewal of Exclusive Prospecting Licences (EPL) 3439 (Ida Dome) and 3327 (Uis) for nuclear fuels to companies wholly owned by Extract. The current renewal term for the licences extends the terms of both, up to the 2nd November 2009.
EPL 3327 covers an area of approximately 900 km2 and is located 150km northeast of Swakopmund. It offers good prospects for both primary and secondary uranium mineralisation.
EPL 3439 covers an area of approximately 200 km2 and contains the southern Ida Dome prospects and is part of the Husab Uranium Project. Extract has already completed 30,000m of drilling on EPL 3439 and EPL 3138 and is halfway through its Ida Dome resource definition drilling programme.
Current terms for other EPL’s held by Extract in Namibia remain as:-
• 3138 (Husab) – current to 19 April 2009 • 3328 (Uis) – current to 2 October 2008 • 3139 (Ubib) – under application for nuclear fuel rights
A licence location plan is attached as Appendix 1.
EXT Price at posting:
$4.82 Sentiment: None Disclosure: Held
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