5 February 2009KALAHARI fumes over Perth-basedExtract Resources...

5 February 2009

KALAHARI fumes over Perth-basedExtract Resources appointment of John Main as company director claiming his ties with Rio Tinto will jeopardise shareholder value.

The business has a 39% share in the uranium explorer Extract Resources who appointed Main after a general meeting where shareholders voted to remove the firm’s chairman Robert Buchan.

Kalahari has requisitioned the meeting calling for the removal of Main and another director, Steve Sikirich.

Kalahari argues Main’s relations with Rio Tinto would undermine the Rossing South project in Namibia by handing undue influence to the mining giant.

Extract announced a 108m pound uranium resource at Rossing South last month, with further resource upgrades expected. Rio Tinto owns the neighbouring Rossing project.

The company has launched Supreme Court action to remove Mr Main and Extract says it is seeking legal advice.

Regards,

UMC