Kalahari Resources Inc.
TSX VENTURE : KLA

Kalahari Resources Inc.

November 13, 2009 15:56 ET

Kalahari Resources Increases Drill Program From 2000 Meters to 6000 Meters on Lamaque Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2009) - Kalahari Resources Inc. (TSX VENTURE:KLA) (the "Company") is pleased to announce that, subject to financing, it will be expanding its recently announced drill program (see news release November 6, 2009) from 2000 meters to 6000 meters. Drilling will focus on numerous targets across the Lamaque property as well as follow-up on a past high-grade gold intersection adjacent to a recently optioned claim. The Company recently entered into an Agreement with joint venture partners Tundra Gold Mines Limited ('Tundra') and Golden Pond Resources Ltd. ('Golden Pond') on the Lamaque property to acquire their remaining interests in exchange for shares in the Company. The agreement has received conditional approval from the TSX Venture Exchange and will be finalized upon shareholder approval in upcoming Tundra and Golden Pond Extraordinary General Meetings scheduled to take place November 23, 2009.

In this regard, it has arranged for a private placement for up to 20,000,000 units for total proceeds of up to $1,000,000. The financing will consist of flow through and non-flow through units priced at $0.05 per unit. Each of the units will consist of one flow through or non-flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for two years at a price of $0.10 per share. In accordance with Exchange policies, finders' fees may be paid on the funds raised. The MineralFields Group is a participant in this private placement, which is subject to regulatory approval. The proceeds will be used for exploration on the Company's Lamaque property as well as for general working capital.

About the Lamaque Property

Kalahari has negotiated the right to 100% ownership of the 3,074 acre Lamaque property, located in the Abitibi Greenstone Belt, one km north of the "Cadillac Break" and immediately south of the Lamaque and Sigma mines. The Sigma mine produced approximately 4.4 million ounces of gold and the Lamaque mine, on the northern boundary of the property, produced approximately 4.5 million ounces of gold over its lifetime primarily from the 'Main' plug, a geological feature similar to the no. 4 Plug located on the property. The No. 4 Plug and another zone known as the No 10 Vein collectively have an inferred mineral resource of 1,365,000 tons grading 0.186 opt gold (cut) or 0.275 opt gold (uncut) as audited and reclassified by Watts, Griffis & McOuat's NI 43-101 Technical Report, dated September 2004 (see Sedar October 20, 2004 for details of report). Since the Company acquired the Lamaque property in 2003 over $4.5 million has been spent on exploration expenditures. There are a number of other priority gold targets that the Company plans to test during this program many of which have never been drilled.

The Company

In addition to the Lamaque Property, Kalahari Resources holds a 50% interest in diamond properties in the Chapleau-Wawa district of Ontario, with the balance held by partner Chalice Diamond Corp.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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