HUSAB PROJECT ESTABLISHED AS THE 4TH LARGEST URANIUM DEPOSIT IN THE WORLD
Highlights:
? Resource estimate updated, based on further results from continuing drilling programme at Husab Uranium Project.
? 33% increase in Total Global Resource since August 2010 resource estimate.
o Maiden Measured Resources in Zones 1 & 2 of 84 M.lbs U3O8.
o 39% increase in Zone 1 & 2 Measured and Indicated Resources to 358 M.lbs U3O8 (compared to August 2010 Indicated Resources).
o 18% increase in Inferred Resources to 130M.lbs U3O8, including definition of maiden Inferred Resource at Zone 5.
? Substantial increase in resource inventory represents first success from M.O.R.E. programme. An updated reserve estimate, based on the revised resource model, is scheduled for H2 2011 and is expected to demonstrate a significant increase in mine life.
? Extensive further exploration potential remains; Extract intends to maintain the pace of its drilling programme.
EXT Price at posting:
$7.79 Sentiment: LT Buy Disclosure: Held
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