Extract welcomes confirmation on proposed changes to Namibian Minerals Policy

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.

SOURCE Extract Resources

For further information:

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
Extract Resources: Namibia
Tom Ferreira

Nomvula Kambinda
Tel: +27 (83) 2646188
Tel: +264 (0) 61 300 220
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


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