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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Extract Res. is a gold development stage company based in Australia.
Extract Res. develops gold and uranium in Australia and in Namibia, and holds various exploration projects in Australia.
Its main assets in development are BURNAKURA / NOA2 in Australia and ROSSING in Namibia and its main exploration properties are UIS and HUSAB in Namibia and BURNAKURA and TUCKABIANNA in Australia.