Extract welcomes confirmation on proposed changes to Namibian Minerals Policy
11.05.2011 | CNW
SOUTH PERTH, Australia, May 11 /CNW/ --
SOUTH PERTH, Australia, May 11 /CNW/ - Extract Resources Ltd (ASX: EXT)
(TSX: EXT) (NSX: EXT) ('Extract') welcomes the confirmation made by
Hon. Isak Katali, Minister of Mines and Energy that the proposed
changes to the Namibian Minerals Policy will not apply to existing
exploration and mining licences.
The Minister has also confirmed that existing mining licence
applications will be considered under the existing procedures on their
own merit. Consequently, Extract can confirm the proposed policy
changes will not adversely affect Swakop Uranium's existing EPL or its
application for a mining licence for the Husab Uranium Project.
About Extract Resources
Extract Resources Ltd is an international uranium exploration and
development company whose primary focus is in Namibia. The company's
principal asset is its 100%-owned Husab Uranium Project which contains
one of the fifth largest uranium only deposits in the world. Extensive
exploration potential also exists for new uranium discoveries in the
region. Extract Resources is listed on the Australian (ASX), Toronto
(TSX) and Namibian (NSX) Stock Exchanges.
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please visit www.extractresources.com or contact:
| Extract Resources: London Office Jonathan Leslie, CEO | Tel: +44 (0)20 7317 9220 |
| Extract Resources: Perth Office Siobhan Lancaster, Company Secretary/Corporate Affairs | Tel: +61 (0)8 9367 2111 slancaster@extractresources.com |
| Extract Resources: Namibia Tom Ferreira Nomvula Kambinda | Tel: +27 (83) 2646188 tom@swakopuranium.com.na Tel: +264 (0) 61 300 220 nomvulak@swakopuranium.com.na |
| Australian Media Enquiries: MAGNUS Investor Relations/Corporate Communication (Australia) John Gardner and Dudley White | Tel: +61 (0)2 8999 1010 Mob: +61 (0)413 355 997 Mob: +61 (0) 413 439 883 |
| UK Media Enquiries: Brunswick Group (UK) Carole Cable / Pip Green | Tel: +44 (0)20 7404 5959 |