OKYO.L Regulatory News (OKYO)

23 Feb 2009 16:47



Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration

23 February 2009

Kalahari Minerals plc ('Kalahari' or 'the Company')

Emerging Metals Increases Stake 

Kalahari Minerals plc, the AIM listed mining exploration group with a portfolio of copper, base metal and uranium interests in Namibia, was notified on 23 February 2009 that Emerging Metals Limited has purchased 2,475,000 ordinary shares in the Company, representing approximately 1.38% of the Company's total voting rights, raising its total interest in Kalahari to 15,820,000 ordinary shares representing 8.84% of its total voting rights.

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Notes to Editors:

Information relating Kalahari

Kalahari Minerals Plc is an AIM listed mining and exploration group with a portfolio of copper and base metal prospects within western and eastern central Namibia. Two of the project areas, Dordabis and Witvlei, are prospective for sediment hosted copper mineralisation consistent with the world class Zambian Copper Belt. A third project, Ubib, is believed to be prospective for gold mineralisation and is located close to the operating Navachab gold mine.

The Company also has a 100% interest in the highly prospective Namib Lead Zinc Project centred on the old Namib Lead Mine, which was an underground operation from 1965 - 1992. Previous mine studies (non JORC compliant) indicate surface tails and underground mining reserves of 1.65 million tonnes at 5.7% zinc, 1.6% lead and 40.2 g/t silver. Kalahari aims to take the project to bankable feasibility study stage with a view to recommencing mining operations in the short term.

Additionally, the Company holds a 40.60% interest in ASX and TSX listed Extract Resources Limited, which is focused on uranium exploration. Its key project is the Husab uranium project in Namibia which contains three main prospects, Rossing South, Ida Dome and Hildenhof, and is located directly south of Rio Tinto's producing Rossing Mine. At Rossing South, an initial resource estimate of 108 M lbs of U3O8 at a grade of 430 ppm was recently announced, whilst at Ida Dome, a 25.1 M lbs of U3O8 has been defined, effectively giving Extract a total resource of 133.1 M lbs. Results from an ongoing drilling programme reinforce the Company's belief that the area has a strong potential to host a world class uranium deposit.

Information relating to Extract

Extract Resources Limited is an Australian-based uranium exploration company whose primary focus is in the African nation of Namibia. Extract's principal asset is its 100%-owned Husab Uranium Project which contains three known uranium targets: Ida Dome; Hildenhof; and Rossing South. Rossing South represents Extract's first new discovery in this area. Extract is listed on the ASX and the TSX under the ticker symbol 'EXT'. For more information on Extract visit www.extractresources.com.