kah 41.76m placing at 232 pence

Great Placing price as a result of shareholders "actively petitioning" KAH.

Kalahari Minerals plc, the AIM listed resource company, announces that it has conditionally raised �41.76 million (before expenses) by way of a placing of 18 million new ordinary shares of 1 pence each (`Ordinary Shares') in the capital of the Company (`the Placing Shares'), with existing shareholders at a price of 232 pence per Placing Share (`the Placing Price') (`the Placing') through the
Company's joint brokers Mirabaud Securities LLP (`Mirabaud') and Ambrian Partners Ltd (`Ambrian'). The proceeds of the Placing will be used to satisfy
the private placing commitments with Extract Resources Limited (`Extract') announced on 9 December 2010, which will raise Kalahari's interest in Extract to 42.83 per cent.

Kalahari Chairman, Mark Hohnen, said, "I am delighted to announce the Placing, which allows Kalahari to fulfil its commitments in regard to increasing our strategic shareholdings in Extract to 42.83 per cent. Kalahari's position in Extract remains of paramount importance as we enter the Company's next phase of development, including our listing on the Official List of the UK Listing
Authority, as we continue our unwavering support of Extract as it approaches its production phase at the world class Husab Uranium Project.

"Our shareholders have been actively petitioning us to maintain and increase our holding in Extract, as they recognise the value uplift potential of Extract and that Kalahari, which is trading at a discount to its holding in Extract, represents the best way to gain exposure to the Husab Uranium Project, as it develops towards becoming one of the world's largest uranium mines."