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Extract Resources Confirms Discussions Regarding Possible Acquisition of Stake in Namibia Uranium Project

Extract Resources Ltd (EXT.TO) was up 12 cents to $7.95 a share overnight in Australian trade, rising 1.5% ahead of the company this morning confirming it is aware of talks between CGNPC Uranium Resources Co. Ltd. and Epangelo Mining Company Ltd regarding a possible acquisition by Epangelo of a 10% interest in the Husab Uranium Project in Namibia.

According to Extract, however, any deal between the companies would be contingent on CGNPC-URC first having acquired a controlling interest in Husab from Extract.

Separately, Extract said discussions with Epangelo are well advanced, irrespective of whether or not any transaction involving CGNPC-URC occurs.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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