Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration 26 October 2009 Kalahari Minerals plc (Kalahari) Extract Resources Raises Exploration Target
Kalahari Minerals plc, the AIM listed mining exploration and evaluation group with a portfolio of uranium, copper and base metal interests in Namibia, is pleased to provide an update released by Extract Resources Ltd (Extract or the Company), in which Kalaharis subsidiary, Kalahari Uranium Limited, holds a circa 40% interest.
Kalaharis Chairman, Mark Hohnen, said, "Having already announced a defined resource of 292 million pounds U3O8, the raising of the exploration target by Extract to between 185 and 285 million pounds U3O8, demonstrates the rapid progress being made in advancing the Rossing South resource and the Husab Project, and again, underpins it as one of the worlds largest uranium projects.

With 11 drill rigs in operation, Extract continues to target Zone 1 and Zone 2 to upgrade the resource status, with the aim of defining reserves for the ongoing Feasibility Study, as well as new zones which are already yielding some highly exciting results.

We look forward with anticipation as Extract builds on its current resource numbers and realises our estimates of a resource in excess of 500 million pounds U3O8.
"Furthermore we continue to fully support Extract in its commitment to Namibia and the development of one of the worlds largest uranium mines, which will benefit all stakeholders going forward."
Extract announcement:
Rossing South - New Exploration Target Statement
South Perth, Western Australia - October 26 2009 - Extract Resources (the "Company"), a Uranium exploration and development company with projects in Namibia, Africa, today announced an exploration target for areas of its Rossing South project not included in its current resource estimates.
From these additional areas the Company has set an initial target in the range of between 185 and 285 million pounds U3O8.
Under Canadian NI43-101 guidelines, target statements and different categories of resources are not able to be accumulated or stated as one figure and the Company retracts any previous statements that may have inadvertently included such an accumulated number, this includes the exploration target set out in its October 9, 2009 press release.
For clarity, a summary of the current status of the Rossing South project is as follows:- * Indicated Resources - 24 million pounds U3O8 * Inferred Resources - 243 million pounds U3O8 * Current Exploration Targets - 185 to 285 million pounds U3O8
The current resource for Rossing South, following JORC Code and NI43-101 guidelines, at 100 ppm U3O8 cut-off is shown in the following table (ASX & TSX release 22 July 2009).


Rossing South Total Category Tonnes (million) Grade (ppm U3O8) U3O8 (M.lbs) Zone 1 Indicated 21 527 24 Inferred 126 436 121 Zone 2 Inferred 102 543 122
Note: Figures have been rounded.
Extract Resources Chairman, Mr.

Steve Galloway, said, "The rapid growth of the Rossing South resource and the Husab Project as one of the worlds largest uranium projects is continuing, with ongoing resource definition drilling in Zones 1 and 2 and exploration drilling further south continuing to define significant new zones of mineralisation. This continued success has resulted in the Company re-evaluating the exploration potential and defining a new exploration target of 185-285 million pounds U3O8.

This figure is in addition to the resources already defined at Zones 1 and 2."
"The Company is committed to the development of one of the largest uranium mines in the world that will provide significant returns to share-holders and deliver huge benefits to the Namibian nation for decades to come."
Exploration drilling to date at Rossing South has been completed over 8 kilometres of a 15 kilometre long target of covered (but potentially uranium bearing) stratigraphy between the licence boundary and the northern termination of the Ida Dome.

Continued exploration and resource definition drilling between Salem and Zone 1 is a priority for the Company.
Infill drilling at Rossing South is currently focused on Zone 1 and Zone 2 to upgrade the resource status with the aim of defining reserves for the ongoing Feasibility Study.

Exploration drilling is also continuing south of Zone 2.

Key exploration target areas include: 1. The known Zone 1 and Zone 2 trend where the majority of the uranium mineralisation defined to date has been on the east limb of the Rossing South antiform; 2. South of Zone 2; 3. The west limb of the Rossing South antiform to the west of Zone 1 and Zone 2; 4. The west limb of the Rossing South antiform, south of Zone 2; 5. The Rossing trend approximately 1.0 - 2.0 kilometres west of the Zone 1 and 2 trend; and 6. Other dome related dilational (structural openings) sites identified from the recently acquired 50 metre line spaced magnetic survey.


The Company continues its significant commitment to realizing the full potential of the Husab Project with 11 drill rigs currently operating on site.

Additional rigs will be sourced over the coming months to accelerate drilling progress.

However, given the massive size of the mineralised system defined thus far, exploration efforts are expected to continue for some time.
The following internal target exploration parameters have been established for Rossing South, in addition to the substantial resource base that has already been defined.

These are based on the knowledge gained from completing 827 drill holes for 189,804 metres of drilling at Rossing South since April 2007.

This information has been evaluated along with field mapping in the areas outcropping, and several geophysical data sets such as SpotMap data and the recently acquired 50 metre line spaced magnetic data.
Rossing South - New Conceptual Exploration Target Area Tonnage Estimate Lower Scenario (Million tonne) Tonnage Estimate Upper Scenario (Million tonne) Grade Estimate Lower Scenario (ppm U3O8) Grade Estimate Upper Scenario (ppm U3O8) Uranium Content Lower Scenario (Million lb U3O8) Uranium Content Upper Scenario (Million lb U3O8) Rossing South 210 260 400 500 185 285 Note: The Exploration Target potential quantity and grade is conceptual in nature, as there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource (Figures have been rounded).
Grade modelling was based on indications from available chemical assay data.

A bulk density value of 2.65 has been assumed, and is well supported by current knowledge.

The exploration target is presented within ranges of tonnage and grade, and occurs between the surface and approximately 400 metres vertical depth.

All zones of mineralisation identified thus far remain open along strike and at depth.
About Extract Extract Resources is an Australian-based uranium exploration and development Company whose primary focus is in the African nation of Namibia.

The Companys principal asset is its 100% owned Husab Uranium Project which contains two known uranium deposit areas, Rossing South and Ida Dome.

Extensive exploration potential also exists for new uranium discoveries.
For further information, please contact Steve Galloway - Chairman Richard Henning - Investor Relations
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled or reviewed by Mr Martin Spivey, who is a Member of The Australasian Institute of Mining and Metallurgy and Mr Andrew Penkethman who is a Member of the Australian Institute of Geoscientists.

Mr Spivey and Mr Penkethman are both full time employees of the Company.

Mr Spivey and Mr Penkethman have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Mr Spivey and Mr Penkethman consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.


Reference to hand held spectrometer results refers to use of a Company owned Exploranium, GR-135 Plus or Terraplus RS-125, hand held spectrometer.

The uranium values are recorded by placing the unit on the bulk RC sample bags or individual trays of drill core and expressed as parts per million (ppm) eU which is equivalent to ppm U.

Results from these units provide an indication of uranium mineralisation; they may also be affected by uranium mobility and disequilibrium.

These factors should be considered when interpreting eU information whilst waiting for confirmation chemical assay results.


This press release contains forward-looking statements based on current expectations.

These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected.


A full announcement with diagrams is available on www.extractresources.com
* * ENDS * *
For further information please visit www.kalahari-minerals.com or contact: Mark Hohnen Kalahari Minerals Plc Tel: +61 (0) 8 9389 4488 Simon Raggett Strand Hanson Limited Tel: +44 (0) 20 7409 3494 Stuart Faulkner Strand Hanson Limited Tel: +44 (0) 20 7409 3494 Rory Murphy Strand Hanson Limited Tel: +44 (0) 20 7409 3494 Richard Chase Ambrian Partners Tel: +44 (0) 20 7634 4700 Rory Scott Mirabaud Securities LLP Tel: +44 (0) 20 7878 3360 Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177 Susie Callear St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
Notes
Kalahari Minerals Plc is an AIM listed mining and exploration group with a portfolio of uranium, copper and base metal interests in western and eastern central Namibia.

Its key investment is its circa 40% holding in ASX and TSX listed Extract Resources Limited (www.extractresources.com), which is developing the Husab Uranium Project, strategically located directly south of Rio Tintos producing Rossing Mine.

Work is focussing on three main prospects within the project area, Rossing South, Ida Dome and Hildenhof, and results continue to underpin the prospectivity of the region, particularly following the world class Rossing South discovery. Extract has reported a JORC compliant combined Husab Resource (Global Resources) in excess of 292 M lbs U3O8 of which 267 M lbs U3O8 at a grade of 487 ppm from the two zones at Rossing South.

Importantly these are both open ended at depth and along strike.

Kalahari believes Extract has the ground and potential to deliver on Kalaharis estimates of a resource in the region of 500 M lbs U3O8.
Kalaharis copper interests are focused on two project areas, Dordabis and Witvlei, where an exploration programme is underway to define +250,000 tonnes of copper metal.

A third project, Ubib, is believed to be prospective for gold mineralisation, whilst a forth project, the Namib Lead Zinc Project, centred on the old Namib Lead Mine, contains surface tails and underground mining reserves of 1.65 million tonnes at 5.7% zinc, 1.6% lead and 40.2 g/t silver (non JORC compliant).

Kalahari aims to take this final project to bankable feasibility study stage with a view to recommencing mining operations in the short term.
Susie Callear St Brides Media & Finance Ltd Chaucer House 38 Bow Lane London EC4M 9AY T: +44 (0) 207 236 1177 | M: +44 (0) 7976 749 561 | F: +44 (0) 207 236 1188 | www.sbmf.co.uk
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