NWT acquires interest in Kalahari Minerals through Niger Uranium venture

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[{"type":"text","content":"\n\n\n\nTORONTO, April 4 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is\npleased to announce that through its holdings of Niger Uranium Ltd. it has\nacquired an interest in Kalahari Minerals PLC, an AIM-listed company with\nassets in Namibia.\n\n\nAs announced in a press release on March 20, 2008, Niger Uranium has\nagreed to acquire up to 27,680,000 shares of Kalahari, which would represent\n17.5% of the company, upon completion of a Kalahari private placement. As NWT\nis the largest shareholder in Niger Uranium with a holding that would\nconstitute 32% of Niger Uranium shares following completion of the Kalahari\nagreement, NWT's stake in Kalahari would represent 5.6%.\n\n\nKalahari's principal asset is a 36.2% interest in Extract Resources\nLimited, which trades on the Australian Stock Exchange (ASX) and has uranium\nexploration licenses in Namibia. NWT's subsequent interest in Extract is\ncalculated at 2.0%. In addition to its holdings in Extract, Kalahari has\nproperty interests in the Dordabis and Witvlei copper exploration properties,\nlocated in Namibia's Kalahari copper belt.\n\n\nThe directors of Niger Uranium, including Marek J. Kreczmer, President\nand CEO of NWT Uranium, believe that "the acquisition of a substantial stake\nin Kalahari Minerals provides Niger Uranium with interests in nearer-term\npotential uranium production and a diversification of its uranium portfolio\ninto Namibia, a country with a reputation for having a positive approach to\nthe development of mining projects."\n\n\nThe purchase price is 12,400,000 pounds sterling, satisfied through a\ncash payment of 7,470,000 pounds sterling from Niger Uranium's existing cash\nbalances, and the issuance of 17,000,000 new Niger Uranium shares. This share\nissuance subsequently dilutes NWT's stake in Niger Uranium to approximately\n32%. Admission of the new shares is expected to become effective on March 31,\n2008.\n\n\nNiger Uranium trades on London's AIM market under the symbol URU, while\nKalahari trades under the symbol KAH. Extract trades on the ASX under the\nsymbol EXT.\n\n\nABOUT NWT URANIUM:\n\n\nNWT Uranium Corp. (www.nwturanium.com) is an international resource\nexploration company with an experienced, highly technical management team.\nSince its inception, NWT has concentrated on the acquisition of properties\nwith potential ura...

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