Kalahari Minerals plc (KAH) – August 2009

Kalahari Minerals plc (KAH) – August 2009

Preliminary Cost Estimates Study Confirms Rossing South’s Potential To Be One Of World’s Largest Uranium Mines

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, in which Kalahari’s subsidiary, Kalahari Uranium Limited, holds a 40% interest.

Kalahari Chairman Mark Hohnen said, “This is great news with preliminary cost estimates indicating that Rossing South could support a profitable, long life, low cost, low technical risk uranium mine producing 14.8M lbs U3O8 per year, making it one of the world’s largest uranium mines.  Importantly, Namibia already hosts other world class uranium projects including Rio Tinto’s Rossing and Paladin’s Langer Heinrich uranium mines, located either side of Extract’s project, therefore providing good infrastructure and knowledge of the sector, which would greatly assist in the development of Rossing South.  

“With a JORC compliant resource of 267 M.lbs U3O8 @ 487 ppm, Rossing South is already one of the world’s largest uranium deposits.  However, it has considerable additional potential as the uranium mineralisation on all zones drilled to date is still open at depth and along strike.  This confirmed resource and the outstanding exploration potential still to be tested across the whole Husab project should ensure a long and successful mining operation.  As we have mentioned in previous announcements, we believe that Extract has the ground and potential to deliver on Kalahari’s uranium estimates of a resource in the region of 500 M.lbs U3O8. 

“We look forward to receiving regular updates from Extract as it advances the Prefeasibility Study, prior to embarking on the Definitive Feasibility Study and ultimately potentially creating one of the world’s largest uranium mines.”

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