🕐23.04.10 - 16:40 Uhr

Kalahari Minerals Appoints ITOCHU Nominated Non-Executive Director



Kalahari Minerals plc / Ticker: KAH / Index: AIM / Sector: Mining & Exploration 23 April 2010 Kalahari Minerals plc (Kalahari or the Company) Appoints ITOCHU Nominated Non-Executive Director
Kalahari Minerals plc, the AIM listed resource company, announces the appointment of Mr.

Takashi Yasuda as a Non-executive Director to the board of Kalahari (the Board) with immediate effect.

This appointment, which follows the strategic investment made in Kalahari by the major Japanese trading house, ITOCHU Corporation (ITOCHU) through its wholly owned subsidiary Nippon Uranium Resources (Australia) Pty Ltd (announced on 26 March 2010) is designed to ensure that the strategic relationship between the two companies is maximised to the benefit of all stakeholders.
Kalaharis Executive Chairman, Mark Hohnen, said, "I would like to welcome Mr.

Takashi Yasuda to the Board and look forward to working closely with him.

We believe that the experience of ITOCHU in the uranium sector and in Namibia, as well as the political and financial backing it receives from the Japanese Government, will be highly beneficial to our active strategy with regards to the development of Extract Resources and its R�ssing South mine.

The project is targeted to be in production by 2013 and both parties are fully committed to being active participants, with the intention being to ensure that Extract receives all the relevant support to ensure that development at the world-class R�ssing South uranium project is fast tracked and its full potential realised for the benefit of all shareholders."
The agreement between the two parties entitles ITOCHU to maintain a nominated ITOCHU representative on the Board, as a non-executive director, conditional upon ITOCHU (or any member of its group) being interested (either conditionally or unconditionally) in at least 13.5% of the entire issued share capital of the Company (the Agreement).
The Agreement further provides that should ITOCHUs shareholding be diluted by a further issue of shares on a non pre-emptive basis, in which ITOCHU had not been invited to participate, its right to appoint a non-executive director will be upheld.

However, in the event that ITOCHUs shareholding is reduced to below 10% of the entire issued share capital of Kalahari for a continuous period of more than 15 days, the Agreement will terminate with immediate effect.
Mr.

Yasuda, aged 47, is or has been a director of the following companies during the previous five years:
Current Directorships:
Directorships held within the previous five years: JB BioEnergy Inc. Itochu Petroleum Co., (Singapore) Pte Ltd FNI biofuel Sdn Bhd.
There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule Two paragraph (g) of the AIM Rules.


* * ENDS * *
For further information please visit www.kalahari-minerals.com or contact: Mark Hohnen Kalahari Minerals plc Tel: +44 (0) 20 7292 9110 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 Ltd 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 to Editors:
Kalahari Minerals plc
Kalahari Minerals plc is an AIM and NSX listed resource company with uranium, gold and base metal interests in Namibia.

Its key investment is its 40.4% holding in ASX, TSX and NSX 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 Resource) in excess of 292 M lbs U3O8 at a grade of 439 ppm of which 267 M lbs U3O8 at a grade of 487 ppm is from the two zones at Rossing South at 100 ppm U3O8 cut-off.

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 550 M lbs U3O8.
Kalaharis other key investment is its circa 44.7% holding in North River Resources plc, an AIM listed emerging southern African focussed multi commodity resource development company.
ITOCHU Corporation
The history of ITOCHU Corporation dates back to 1858 when its founder, Chubei Itoh, commenced linen trading operations.

Since then, ITOCHU now has 150 overseas bases in 75 countries engaged in the domestic trading, import/export, and overseas trading of various products such as textile, machinery, information and communications technology, aerospace, electronics, energy, metals, minerals, chemicals, forest products, general merchandise, food, finance, realty, insurance, and logistics services, as well as business investment in Japan and overseas.
Lottie Brocklehurst St Brides Media & Finance Ltd Chaucer House 38 Bow Lane London EC4M 9AY T: +44 (0) 207 236 1177 M: +44 (0) 7917 010 468 F: +44 (0) 207 236 1188 www.sbmf.co.uk
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