Kalahari Chairman Mark Hohnen said, "Extract's Husab uranium...

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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