COMPANY RELEASESKalahari Minerals completes placing to raise...

COMPANY RELEASES

Kalahari Minerals completes placing to raise £14.4 million
Monday , 14 Apr 2008

Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of copper, base metal and uranium interests in Namibia, held a General Meeting today to enable the Directors to increase their authority to allot new Ordinary Shares and to dissapply pre-emption rights in connection with a placing to raise £14.4 million (before expenses) by way of an issue of 46,080,000 new Ordinary Shares at a price of 31.25 pence per new Ordinary Share (the "Placing"), as announced on 20 March 2008.

At the meeting, Resolution 1 regarding the allotment of securities with regards to section 80 of the Companies Act 1985 was passed, with proxy votes as follows: votes received in favour totalled 63,478,928, those against 4,130,303 and at discretion 5,000. Resolution 2 regarding the disapplication of pre-emption rights pursuant to section 95 of the Companies Act 1995 was also passed with proxy votes as follows: votes received in favour 63,459,178, those against 4,142,553 and at discretion 8,000.

Kalahari Chairman Mark Hohnen said, "I am delighted with this response from both institutional and private investors. The overwhelming support in favour of the resolutions endorses our strategy and is a huge vote of confidence from our primarily London based shareholders. With the placing now finalised, where we welcome a number of new institutional shareholders including Blakeney Management, we are in a very strong position with cash resources of approximately £16 million to progress our aggressive growth strategy.

"These funds will enable us to continue to develop our copper and base metal projects in Namibia, and will importantly allow us, if possible, to maintain our stake in Extract Resources Ltd (ASX and TSX: EXT) where we have a 36.2 per cent. equity holding. We divested our uranium assets in March 2007 in return for our Extract shares but we see our holding as an important part in our strategy in Namibia and are keen to maintain our exposure to the prospective Husab uranium project."

Application has been made for the 46,080,000 new Ordinary Shares to be admitted to trading on AIM and trading is expected to commence on 15 April 2008. The Company's Total Voting Capital following the admission of the new Ordinary Shares will be 161,309,130 Ordinary Shares.