Karoo extends African Energy LOI

VANCOUVER, Jan. 30, 2014 /CNW/ - Karoo Exploration Corp. (the "Company" or "Karoo") (TSX-V: KE.V) announces that further to its news release dated September 30, 2013, pursuant to which the Company entered into a letter of intent dated September 26, 2013 (the "LOI") to acquire the Chirundu Project, along with a portfolio of uranium properties in Zambia, from African Energy Resources Ltd. (ASX: AFR), all parties have agreed to extend the closing date of the transaction for an additional 60 days, extending it until March 25, 2014.

Karoo also announces the resignation of Christal Pendleton as Corporate Secretary of the Company effective January 31, 2014.  Karoo wishes to thank Ms. Pendleton for her contributions to the Company.

ON BEHALF OF KAROO EXPLORATION CORP.

Robert Dzisiak
Director and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward‐looking statements".  Forward‐looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions.  The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.

SOURCE Karoo Exploration Corp.

For further information:

More information is available on the Company's website, www.karooexploration.com, or by contacting Robert Dzisiak at 204.955.4803 or info@karooexploration.com