taurus holds 5.7 per cent & offer open feb 2

Received email from Kalahari reporting:

FOR IMMEDIATE RELEASE

5 January 2012

RECOMMENDED CASH OFFER FOR KALAHARI MINERALS PLC (“Kalahari”) BY TAURUS MINERAL LIMITED (“Taurus”) (A COMPANY FORMED AT THE DIRECTION OF CGNPC URANIUM RESOURCES CO., LTD (“CGNPC-URC”) AND THE CHINA-AFRICA DEVELOPMENT FUND (“CADFund”))

Posting of Offer Document

Further to the announcement made on 8 December 2011 in relation to the proposed acquisition of Kalahari, Taurus hereby announces that the offer document (the “Offer Document”) containing the full terms and conditions of the Offer, is being posted today to Kalahari Shareholders (and, for information only, to persons with information rights), together with the related Form of Acceptance.

The Board of Kalahari has unanimously recommended that Kalahari Shareholders accept the Offer. In addition, Taurus has received irrevocable undertakings from the Kalahari Directors representing, in aggregate, approximately 2.2 per cent. of the issued share capital of Kalahari, to accept the Offer. Letters of intent to accept or procure the acceptance of the Offer have also been received from certain Kalahari Shareholders amounting to 8,864,522 Kalahari Shares (representing approximately 3.5 per cent. of Kalahari’s existing issued share capital) as at 4 January 2012, being the latest practicable Business Day prior to this announcement.

Accordingly, in aggregate, Taurus holds, or has received irrevocable undertakings or letters of intent to accept the Offer, in respect of 14,383,335 Kalahari Shares representing approximately 5.7 per cent. of Kalahari's existing issued share capital as at 4 January 2012, being the latest practicable Business Day prior to this announcement. The Offer will remain open for acceptance until 1.00 p.m. ( London time) on 2 February 2012.

To accept the Offer, if you hold your Kalahari Shares in certificated form (that is, not in CREST), the Form of Acceptance should be completed as soon as possible and in any event so as to be received by post, or (during normal business hours only) by hand, to Capita Registrars, Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU no later than 1.00 p.m. (London time) on 2 February 2012.

Acceptances in respect of Kalahari Shares in uncertificated form (that is, in CREST) should be made electronically through CREST so that the TTE Instruction settles not later than 1.00 p.m. ( London time) on 2 February 2012. If you are a CREST sponsored member, you should refer to your CREST sponsor as only your CREST sponsor will be able to send the necessary TTE Instruction to Euroclear.

If you are in any doubt about the action you should take, you should without delay consult an independent financial adviser authorised under the Financial Services and Markets Act 2000 if you are in the UK or, if you are outside the UK , another appropriately authorised independent financial adviser.

Copies of the Offer Document and the Form of Acceptance will be available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, for inspection on CGNPC-URC's website at www.cgnurc.com.cn and on Kalahari's website at www.kalahari-minerals.com, during the course of the Offer.

Kalahari Shareholders should carefully read the Offer Documentation in its entirety before making a decision with respect to the Offer.

Terms and expressions used in this announcement shall, unless the context otherwise requires, have the same meanings as given to them in the Offer Document.