Kalahari Chairman Mark Hohnen said, "Extract's Husab uranium project, in particular the Rossing South prospect, continues to yield good results, underpinning what is considered to be the world class nature of the asset. Seven drill rigs are operating on site and a resource statement is expected in the next few months from Zone 2 at Rossing South, which we anticipate may be at the higher end of estimates. This resource statement will contribute towards Extract's total uranium portfolio within the Husab project, which we anticipate could reach 500 million lb of U3O8, once its Namibian land position has been developed and in particular, the Rossing South Zones 1 & 2 and Ida Dome have been fully defined. Importantly, the grades continue to be high and recent results reconfirm that Rossing South is the highest grade granite hosted uranium deposit in Namibia. To this end, the Board and our shareholders believe it is imperative to maintain our position in Extract, which has been recently diluted through the exercising of options.
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