12 April 2010
Kalahari Minerals plc (`Kalahari')
Extract Board Structure
Kalahari Minerals plc, the AIM listed resource, is pleased to announce the appointment of Jonathan Leslie as an Executive Director of Extract Resources Limited(`Extract'), in which Kalahari has a 40.37% interest. This follows Mr.Leslie's appointment as Extract's CEO, which was announced on 1 March 2010.
Extract has also been advised that Rio Tinto's nominated representative, Mr.Chris McFadden, will resign from his position as a Non-executive Director of Extract, effective immediately. This resignation is the result of an agreement between Rio Tinto and Extract whereby Rio Tinto's nominated representative would resign from the Board of Extract (`Extract Board') upon the appointment of a CEO, as notified at the AGM in Perth on 23 November 2009.
Kalahari's Executive Chairman, Mark Hohnen, said, "Extract is reaching a critical stage in its development as it approaches the completion of a definitive feasibility study at Rossing South and advances towards production. We are therefore fully supportive of the appointment of Jonathan Leslie, Extract's current CEO, to the Extract Board, who we believe has the ability to take Extract to the next stage in its rapid development, building the business and delivering a world class producing mine at Rossing South.
"As stated previously, Jonathan has an exceptional level of experience in the uranium sector, particularly in Namibia, where he was Managing Director of R�ssing Uranium, Rio Tinto's subsidiary, which operates the producing Rossing Mine. He is an international expert in the uranium industry and a well-respected figure in Namibia, with outstanding relationships with the Namibian government and mining agencies. Indeed, we are scheduled to meet with the President of Namibia tomorrow, to introduce Jonathan and to provide a progress report on the Rossing South Project, as it enters this transformational period in its development - transforming from a pure
exploration company to a tier one uranium production company.
"As Extract's major shareholder, the Board of Kalahari would also like to take this opportunity of thanking Chris McFadden and Stephen Dattels, for their guidance and contribution to Extract's development and wish them well in their future activities."
* * ENDS * *
http://www.advfn.com/p.php?pid=nmona&article=42334161&epic=L^KAH
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