Extract Resources Announces Board Changes

    SOUTH PERTH, Western Australia, Feb. 3 /CNW/ - Extract Resources ("the
Company") today announced that Mr. John Main joined the board of the Company
as an independent non-executive director with effect from the close of the
shareholders general meeting held on 2nd February 2009. The Company also
announces that Mr. Peter McIntyre was appointed Chairman of the Board of
Extract Resources on 31st January 2009 replacing Mr. Bob Buchan. Mr. McIntyre
will remain as Chairman until the Board reconvenes to appoint a new Chairman.
    Mr. John Main is a geologist with 40 years of practical and management
experience in the international mineral exploration and mining industry,
across a wide range of commodities and mineralisation styles. He has been a
senior exploration executive with a number of major mining companies, with
extensive overseas experience. This includes four (4) years based in Namibia
on base metals projects.
    He has lead exploration teams in the discovery, definition and evaluation
of a number of world-class mineral projects, including the Skorpion Zinc
Project in Namibia, the Century Zinc-Lead Project in Queensland, and the
Resolution Copper Project in Arizona. His highly regarded technical acumen, is
complimented by strong strategic management and leadership, as well as
extensive commercial experience.

    About Extract

    Extract Resources is an Australian-based uranium exploration company
whose primary focus is in the African nation of Namibia. The Company's
principal asset is its 100% owned Husab Uranium Project which contains two
known uranium deposit areas: Rossing South; and Ida Dome. Extensive
exploration potential also exists for new uranium discoveries.

    Extract is listed on the ASX and the TSX under the ticker symbol "EXT".

    For more information on Extract visit www.extractresources.com

For further information:

For further information: Peter McIntyre, Managing Director; Richard
Henning, Investor Relations, rhenning@extractresources.com

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