RE: NRRP26 Mar 2010 10:34
[NRRP]
Kalahari Minerals plc, the AIM listed resource company, was notified on 25
March 2010 that ITOCHU Corporation, a major Japanese trading house,
has agreed to acquire a 15% interest in the issued share capital of the Company through its wholly owned subsidiary Nippon Uranium Resources (Australia) Pty Ltd. The board of Kalahari welcomes ITOCHU to its share register and has requested ITOCHU to nominate a director to its board to ensure this strategic relationship is maximised to the benefit of all stake holders.Kalahari's Executive Chairman, Mark Hohnen, said, "This is yet another transformational step for Kalahari, and we welcome ITOCHU's participation on our register, which significantly solidifies and strengthens our shareholder base. ITOCHU is a 150 year old major Japanese trading house with a long history in the uranium market as well as operating in Namibia, where it has an interest in the offshore Kudu gas field. Indeed, it has been actively involved in the trading of uranium since 1998 and has delivered over 4,000 tonnes of uranium to the market in 2009, as one of the biggest uranium traders in the world. It has invested in various uranium projects worldwide and has also arranged finance and off-take agreements. In addition, ITOCHU has a strong relationship with the Japanese government, and we look forward to receiving support from the Japanese government through ITOCHU