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

10 June 2010

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

                 APAC Resources Increases Interest in Kalahari                 

                                                                               

Kalahari Minerals plc, the AIM listed resource company, announces that APAC
Resources Limited ('APAC'), the major Hong Kong listed company focussed on
natural resource investment opportunities and base metals trading, has today
increased its interest in the Company to 21,585,392 ordinary shares of 1 pence
each ('Ordinary Shares'), representing 9.55% of the total issued Ordinary Share
capital of Kalahari, following the acquisition of 11,200,000 Ordinary Shares. 

 

These newly acquired Ordinary Shares represent the second tranche of Ordinary
Shares acquired by APAC under the sale agreement between Kalahari, Coronet
Resources Limited ('Coronet') and APAC, announced on 4 May 2010 (the
'Agreement').  Under the terms of the Agreement, Coronet agreed to sell up to
16,000,000 Ordinary Shares ('the Share(s)') at a price of £1.85 in cash per
Share, equating to £29,600,000.00 and these Shares have now been sold to APAC.
 The remaining 5,585,392 Ordinary Shares held by APAC were purchased in the
market.

 

The Company intends to use the proceeds from the sale of the Shares for general
working capital purposes.

 

Kalahari's Executive Chairman, Mark Hohnen, said, "APAC's strategic investment
in Kalahari provides the Company with an entry point to the Asian resource
industry and in particular access to China, which I believe strengthens our
position as we work together with Extract to develop the Husab Uranium
Project.  Importantly, this latest purchase of shares under the agreement with
Coronet and APAC was completed at a price of £1.85 per share, a significant
premium to the current trading price, underpinning APAC's confidence in
Kalahari's ability to crystallise value for shareholders."    

 

                                 * * 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    Tel: +44 (0) 20 7236 1177
                Ltd                                                   
                                                                      
Susie Callear   St Brides Media & Finance    Tel: +44 (0) 20 7236 1177
                Ltd                                                   
                                                                      

                                                                               

Notes to Editors:

 

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 40.8%
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 Tinto's 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 Kalahari's estimates of a resource in the region of 550 M lbs U3O8.

 

Kalahari's 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.

 

APAC Resources

 

APAC Resources is a significant natural resources trading and investment group
based in Hong Kong with a focus on base metals.  The Group has investments in a
range of areas including China, Australia, South East Asia, Northern America
and Africa.  APAC Resources is involved in the identification and acquisition
of strategic interests in quality natural resources assets in order to build a
portfolio of long term cash generating investments and to maximise returns for
its shareholders.