another announcement coming, page-2

March 9, 2011: Extract Resources Limited (ASX/TSX/NSX: EXT) ("Extract" or ?the Company?) refers to its announcement on 8 March 2011 ?Possible Cash Offer for Kalahari Minerals?.
Extract notes that CGNPC Uranium Resources Co Ltd (?CGNPC-URC?) has stated that it intends to seek relief from the Australian Securities and Investments Commission (?ASIC?) to acquire a relevant interest in more than 20% of the issued voting shares in Extract. In order to ensure that the best interests of all Extract shareholders are protected, the independent directors of Extract intend to make submissions to ASIC that any such relief should either:
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be granted on condition that CGNPC-URC's offer for Kalahari only proceeds if all Extract shareholders are not disadvantaged in any way, and that all Extract shareholders are afforded the opportunity to have the effective benefit of CGNPC-URC's offer on no less than equivalent terms to those offered to Kalahari shareholders; or
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not be granted.
The independent directors of Extract will keep shareholders informed of material developments on this matter. This would include opining on any proposal or offer for Extract at the appropriate time.
In the meantime, Extract intends to continue with its existing activities, which include progressing the Definitive Feasibility Study for the Husab Uranium Project and the planned exploration programme. Extract will also continue to explore and evaluate all options to enhance the value of the Company through the partnership process, which remains ongoing.