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.