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Kalahari Minerals PLC (KAH)

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Tuesday 14 February, 2012

Kalahari Minerals PLC

Exercise of Options


                                                               14 February 2012

                             Kalahari Minerals plc                             

                         ("Kalahari" or the "Company")                         

                  Exercise of options and Directors' dealing                   

Kalahari Minerals plc, the AIM listed resource company, announces that the
following Directors of the Company have yesterday exercised the following share
options over ordinary shares of 1p each in the share capital of the Company
("Ordinary Shares"):

                       Number of    Exercise
                         options   price per
                       exercised       share
                                            
Mark Hohnen            1,500,000        125p
                                            
                       2,000,000        178p
                                            
Neil MacLachlan          750,000        125p
                                            
                       1,300,000        178p
                                            
Glyn Tonge               500,000         30p
                                            
                         500,000         40p
                                            
                         750,000        125p
                                            
                       1,000,000        178p
                                            
David de Jongh Weill     750,000        125p
                                            
                       1,000,000        178p
                                            
Richard Lockwood       1,000,000        182p

Pursuant to irrevocable undertakings from the Directors in relation to the
recommended cash offer for Kalahari by Taurus Minerals Limited (the "Offer"),
the Directors have accepted the Offer in respect of all of their holdings and
have undertaken to accept the Offer in respect of the new Ordinary Shares to be
issued to them following the exercise of the above share options.

In addition, the Company announces the exercise today of a further 300,000
options at a price of 30p per share, 500,000 options at a price of 40p per
share, 150,000 options at a price of 125p per share and 450,000 options at a
price of 178p per share by certain other option holders.

The new Ordinary Shares will rank pari passu in all respects with the Company's
existing Ordinary Shares and application has been made to the London Stock
Exchange for these, in aggregate, 12,450,000 new Ordinary Shares to be admitted
to trading on AIM ("Admission"). It is expected that Admission will become
effective and that dealings in the new Ordinary Shares will commence at 8.00
a.m. on 17 February 2012.

For the purposes of the Financial Services Authority's Disclosure and
Transparency Rules, and in accordance with Rule 2.10 of the City Code on
Takeovers and Mergers, the total number of Ordinary Shares in issue following
Admission will be 267,215,894, each carrying the right to one vote. The ISIN
reference for these securities is GB00B117S132.

The above figure of 267,215,894 may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, Kalahari under the
FSA's Disclosure and Transparency Rules.

                                 * * ENDS * *                                  

For further information please visit www.kalahari-minerals.com or contact:
                                                                          
Mark Hohnen        Kalahari Minerals plc        Tel: +44 (0) 20 7292 9110 
                                                                          
Simon Raggett      Strand Hanson Limited        Tel: +44 (0) 20 7409 3494 
                                                                          
Rory Murphy        Strand Hanson Limited        Tel: +44 (0) 20 7409 3494 
                                                                          
Samantha Harrison  Ambrian Partners Ltd         Tel: +44 (0) 20 7634 4700 
                                                                          
Hugo de Salis      St Brides Media & Finance    Tel: +44 (0) 20 7236 1177 
                   Ltd                                                    
                                                                          
Susie Geliher      St Brides Media & Finance    Tel: +44 (0) 20 7236 1177 
                   Ltd

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