Statement re: Announcement by Extract Resources

 
TIDMEML 
 
For immediate release: Friday 19 February 2010 
 
                            Emerging Metals Limited 
 
("EML", "Emerging Metals" or "the Company") 
 
                Statement re: Announcement by Extract Resources 
 
The Directors of Emerging Metals Limited (AIM: EML), the mining company focused 
on minor and emerging metals, would like to draw shareholders' attention to an 
announcement issued yesterday by Extract Resources Limited ("Extract"), in 
which Emerging Metals holds an interest through its 8.53 per cent interest in 
AIM-listed Kalahari Minerals Plc ("Kalahari"), Kalahari having a 40.44 per cent 
interest in Extract through its subsidiary its Kalahari Uranium Limited. In 
this context, Emerging Metals also notes Kalahari's statement of 18 February 
2010 also referring to Extract's announcement. 
 
In Extract's statement of 18 February 2010, it announced further "outstanding 
chemical assay results" from the Rossing South mineralised system, which is 
part of Extract's Husab Uranium project. An abridged version of Extract's 
announcement is set out below. 
 
The Directors of Emerging Metals commented: 
 
"EML shareholders will be pleased to see the announcements made yesterday by 
Extract and Kalahari. The recent drill results by Extract indicate the 
extraordinary potential of Rossing South. There is potential for the deposit to 
support a major project which will be strategically important to future 
customers vying for the long term supply of U308 as the significant build out 
of uranium reactors plays out over the next decade and beyond. Extract is now 
deploying 15 drill rigs, and 5 additional rigs focused on exploration targets 
outside of the two main zones. The main zones are being intensively drilled. 
This may result in the upgrade of the resource to `Indicated' status for 
inclusion in the feasibility study, as stated in Extract's release. Of 
particular note is the number of higher grade intercepts which could enhance 
the project's economics. In view of the very positive progress being made by 
Extract and the importance of that company to EML through its strategic holding 
in Kalahari, the Directors encourage EML shareholders to continue monitoring 
information about Extract and Kalahari." 
 
A full copy of the Extract announcement, including illustrations and 
appendices, can additionally be viewed on Extract's website 
www.extractresources.com. 
 
- Ends - 
 
Contact details 
 
  Emerging Metals   Blomfield Corporate Fox-Davies Capital          GTH 
      Limited         Finance Limited         Limited 
                                                              Communications 
 
    Jim Mellon          Toby Howell      Daniel Fox-Davies       Toby Hall 
 
    Denham Eke             Peter                             Christian Pickel 
                      Trevelyan-Clark 
 
[phone]   [phone]     [phone]     [phone] 
                           0800                5200                8035 
 
               Rössing South: Outstanding Chemical Assay Results 
 
18 February 2010: Extract Resources Ltd (ASX/TSX/NSX: EXT), a uranium 
exploration and 
 
development company with projects in Namibia, today announced further 
outstanding chemical 
 
assay results from the Rössing South mineralised system, part of Extract's 
world-class Husab 
 
Uranium Project. 
 
The results reflect the quality and global significance of the Husab Uranium 
Project and underpin 
 
Extract's commitment to the completion of a Definitive Feasibility Study and, 
in due course, the 
 
development of a mine at Rössing South. 
 
Highlights: 
 
  * Uranium mineralisation is open down dip and along strike, with further 
    drilling expected to upgrade the resource classification and increase the 
    size of this massive mineralised system. 
 
  * 15 drill rigs currently operating at Rössing South with 14 dedicated to 
    infill and resource drilling at Zone 1 and Zone 2. 
 
  * Additional drill rigs being sourced and deployed to exploration drilling 
    targets. 
 
  * Multiple high grade chemical assay results from Zone 1 and Zone 2 drilling, 
    including: 
 
Hole ID                             From       To    Mineralised zones 
 
                                     (m)      (m)          (U3O8) 
 
Zone 1 
 
RRC595                               336      367      146m @ 639 ppm 
 
RRC600                               222      310      88m @ 650 ppm 
 
Including                            263      299      36m @ 1287 ppm 
 
RRC605                               65       127      62m @ 786 ppm 
 
Including                            78        99      21m @ 2003 ppm 
 
RRC641                               274      297      23m @ 1673 ppm 
 
RDD104                               152      176      24m @ 848 ppm 
 
Zone 2 
 
RDD072 262 361                       262      361      99m @ 1078 ppm 
 
Including                            351      361      10m @ 9373 ppm 
 
RDD087                               186      215      29m @ 1120 ppm 
 
Including                            205      215      10m @ 2805 ppm 
 
RDD102                               237      366     129m @ 1415 ppm 
 
Including                            286      354      68m @ 2363 ppm 
 
RRC588                               198      258      60m @ 838 ppm 
 
Including                            233      247      14m @ 2298 ppm 
 
RRC611                               162      203      41m @ 801 ppm 
 
RRC614                               182      257      75m @ 664 ppm 
 
Rössing South Exploration Update 
 
Significant exploration potential remains at Rössing South. To realise this 
potential and move a 
 
step closer to development, the company is sourcing additional reverse 
circulation (RC) and 
 
diamond drill rigs to accelerate an enhanced drilling programme. The main focus 
will be granite 
 
hosted primary uranium mineralisation within the prospective zones (dashed 
white lines) 
 
highlighted in Figure 1. 
 
Resource Definition Update - Zone 1 & Zone 2 
 
The company has completed 249,810 metres of drilling at the Rössing South 
project with 
 
225,951 metres of this total dedicated to resource definition within Zone 1 and 
Zone 2 (Figure 1). 
 
Fourteen drill rigs, including eight RC rigs and six diamond core rigs are 
completing infill and 
 
resource extensional drilling to enable an upgrade of the resource to 
`Indicated' status for 
 
inclusion in the Definitive Feasibility Study. An additional RC rig is 
continuing with sterilisation 
 
drilling for mine infrastructure east of Zone 1 and Zone 2. 
 
The latest round of chemical assay results were received from 75 drill holes 
located throughout 
 
Zone 1 and Zone 2. Multiple intercepts of high grade mineralization were 
reported from drill 
 
holes within both Zone 1 and Zone 2, highlighting the strong continuity of the 
high grade 
 
domains. Uranium mineralisation remains open along strike and down dip with 
further drilling 
 
expected to increase the known dimensions of this massive mineralised system. 
 
A full list of recently received and previously unreported chemical assay 
results is shown in 
 
Appendix 1. 
 
About Extract Resources 
 
Extract Resources Ltd is an Australian-based 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 two known uranium deposit areas, Rössing South 
and Ida Dome. 
 
Extensive exploration potential also exists for new uranium discoveries in the 
region. 
 
For further information, please contact: 
 
Steve Galloway 
 
Chairman 
 
+ 264 61 227950 
 
Richard Henning 
 
Investor Relations 
 
[phone] 
 
[e-mail] 
 
 
 
END