kah comment re ext update on rs dfs

12 March 2010

Kalahari Minerals plc (`Kalahari')

Update on Rssing South Feasibility Study

Kalahari Minerals plc, the AIM listed resource company with uranium, gold and base metal interests in Namibia, is pleased to provide an update, published by Extract Resources Ltd (`Extract' or `the Company'), in which Kalahari's subsidiary, Kalahari Uranium Limited, holds a 40.41% interest, regarding an update on the progress made on the Rssing South Definitive Feasibility Study, which is expected to confirm the project's potential to be one of the world's largest uranium mines.

Kalahari Executive Chairman Mark Hohnen said, "We are highly encouraged by this news, which confirms that Extract is making strong progress towards publishing
the Rssing South Definitive Feasibility Study, and in turn, attributing additional value to its world-class Husab Uranium Project. In particular, it should be noted that the operating costs are unlikely to be significantly different to those stated in the scoping study announced in August 2009, indicating that the Rssing South project is still set to be a profitable, low risk, bulk tonnage, open pit mine with a mine life in excess of 20 years.

"Kalahari remains fully supportive of the development work conducted by Extract, and we now eagerly await an upgraded resource from Zones 1 and 2 of Rssing South. We believe this will not only considerably increase the overall size of Extract's uranium resource, but will also reiterate the global significance of this mineralised system. Indeed, the delay in the definitive feasibility study is attributable to the fact that the resource continues to grow in size, which increases the time required by Extract to better define the ore body, and in particular to identify the high grade resource. This approach by Extract will ensure that an optimum development plan can be determined in order to maximise the true potential of this outstanding uranium project."

http://www.advfn.com/p.php?pid=nmona&article=41944155&epic=KAH