reuters update , page-2

First release from KAH

03 May 2011



Kalahari Minerals plc, the AIM listed resource company, notes Extract Resources Ltd?s (?Extract?) announcement dated 2 May 2011 regarding its position with respect to statements made by the Namibian Mines and Energy Minister, Hon. Isak Katali, on 20 April 2011. Kalahari, which holds a 42.79% interest in Extract through its subsidiary, Kalahari Uranium Limited, supports Extract?s position and the Board of Kalahari would like to reiterate its confidence in Extract?s strategy to progress development of the world-class Husab Uranium Project (?Husab?) towards production for the benefit of all stakeholders.
Kalahari?s Executive Chairman, Mark Hohnen, said, ?Extract, together with the Board of Kalahari, maintains a strong relationship with the Government of the Republic of Namibia, and have kept an active and open dialogue with the appropriate ministers and officials throughout our five years of operation in the country. The boards of Kalahari and Extract understand the importance of progressing development of Husab for the benefit of all stakeholders, and in turn, the Government of the Republic of Namibia has maintained its support of this process, demonstrated most recently by the extension of EPL 3138, which covers the Husab project area, for a further two-year period to 30 April 2013. I remain confident that our strong relationship with the government and our investment in Namibia will continue to bear fruit for both Kalahari and Extract, as we work together to ensure all parties benefit from the development of Husab.?