Kalahari Resources Inc.
TSX VENTURE : KLA

Kalahari Resources Inc.

November 26, 2009 09:15 ET

Kalahari Resources Receives Unanimous Shareholder Approval From Golden Pond Resources and Tundra Gold Mines on Lamaque Gold Transaction

- AGREEMENT FOR GOLDEN POND RESOURCES LTD.'S 27.55% INTEREST IN 2518 ACRE SECTION AND TUNDRA GOLD MINES LIMITED'S 48.64% INTEREST IN 250 ACRE SECTION

- $12 MILLION INCURRED IN EXPLORATION BY GOLDEN POND AND TUNDRA PRIOR TO THEIR DELISTING, AND AN ADDITIONAL $12 MILLION SPENT BY TECK CORPORATION

- COMPANY HAS ALSO RECEIVED FINAL APPROVAL FROM THE EXCHANGE

- 6000 METER DRILL PROGRAM TO START WITHIN ONE WEEK

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2009) - Kalahari Resources Inc. (TSX VENTURE:KLA) (the "Company") is pleased to announce it has received unanimous shareholder approval from Golden Pond Resources Ltd. ("Golden Pond") and Tundra Gold Mines Limited ("Tundra") on the proposed Lamaque transaction (announced October 30, 2009). The transaction increases the Company's interest from 72.45% to 100% in the portion of the Lamaque property joint ventured with Golden Pond (2,768 acres) and from 51.36% to 100% in the portion joint ventured with Tundra (250 acres). Golden Pond and Tundra have been delisted since 1991 and 1992, respectively, and are unable to participate in ongoing exploration on the property. The Company has also received final approval from the TSX Venture Exchange on the transaction.

"Fragmented ownership of the Lamaque property has kept the property from being properly advanced for many years, starting when Teck began optioning portions of the property out in the 1980s," comments Company Chairman, Richard Hughes. "This is a major milestone for Kalahari and the timing could not be better as we look forward to the start of a 6000 meter drill program at the end of the month."

Upcoming Drill Program:

The recently expanded Triangular Zone continues to be the priority for the upcoming drill program. Past drilling by the Company near this area intersected a granodioritic plug approximately 85 feet below surface (see news release May 29, 2007) and ended while still in the plug at approximately 700 feet below surface. Plugs are granodiorite bodies that intrude the exiting volcanic rocks creating conduits for gold mineralization and are associated with many mines in the Val-d'Or area. The Main Plug of the Lamaque Mine on the adjacent ground to the north was mined by Teck and produced over 3.6 million ounces of gold, a large part of which was mined from narrow (0.5 – 3.0 feet), high-grade veins called 'flats'. These 'flats' radiate outward from the plugs as branch-like extensions or projections from the plug and are known for their extremely high grades and narrow alteration zones. Previous Kalahari drilling on the buried plug discovered adjacent to the Triangular zone intersected 6.9 oz/t gold over 2.9 feet at approximately 485 feet below surface. This buried plug has a geophysical signature approximately 2 times the size of the signature associated with the Main plug. Initial drilling will focus on determining the extent of the plug as well as testing for mineralized zones.

The Company has also completed a compilation of its MMI and VTEM data and has identified 12 other targets across the Lamaque Property, a number of which will be drill-tested in December's program. Targets have been prioritized based on their similarity to the geophysical signatures of other plugs in the immediate area.

Company Website:

The Company is also pleased to announce it will be launching a new website with an updated, in-depth section focused on the Lamaque property, upcoming drill program and targets, as well as a corporate presentation and video interview with Company Chairman, Richard Hughes. The new site is expected to go live within the next 5-7 days. A temporary interim page has been set up. Anyone looking for information not available on the interim page is asked to contact the Company (contact information provided below).

About the Lamaque Property

Kalahari has negotiated the right to 100% ownership of the 3,074 acre Lamaque property. The property is 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 Kalahari's 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 extended known zones and making new discoveries. There are a number of other excellent 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.

Visit the company website: www.kalahari-resources.com

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.

Contact Information