Kalahari Intersects 0.86 Opt Over 6 Ft On Lamaque Project

About this update from Icg Silver & Gold Ltd.

Kalahari Intersects 0.86 Opt Over 6 Ft On Lamaque Project Highlights: O.863 Opt Gold Over 6 Ft * (Minimum Mining Width); 0.709 Opt Gold Over 6 Ft And 0.621 Opt Gold Over 6.6 Ft Vancouver, British Columbia CANADA, November 21, 2008 /FSC/ - Kalahari Resources Inc.  (KLA - TSX Venture), is pleased to announce assay results from a recent drilling program designed to test for extensions along strike and down-dip of known gold zones on the 3,800-acre Lamaque Property near Val d'Or, Quebec. The wholly owned property is situated one km south of the prolific "Cadillac Break" and immediately south of the Lamaque and Sigma Mines, which have collectively produced more than 9 million ounces of gold since the 1930s. The recently completed program included 22,923.33 feet of NQ diamond drilling in 29 holes testing the No. 10 Vein and Parallel Zones, which lie about 700 meters east of the Lamaque Mine and 1 km south of the Sigma Mine. * Results for holes DDH 10-08-16 to 08-29 indicate that the zone is cut off to the east, while holes V10-08-01 to 08-15 show potential to depth and in a westerly strike direction. (See results listed below). * Results from recent drilling will be combined with results of historical drilling by Teck Cominco (the previous operator) to produce an updated resource estimate for the No. 10 Vein and Parallel Zone. "We are pleased by the results of the recent drilling program, which together with results of previous drilling confirm the potential to expand resources at the Lamaque Property," said Don Cross, P. Eng. "The next phase of drilling will be designed to extend the zones to depth and in a westerly direction." Since acquiring rights to the Lamaque Property from Teck Cominco in 2003, Kalahari Resources has conducted exploration programs designed to test priority zones and expand resources. Two of the zones, the No. 4 Plug and the No. 10 Zone, collectively have an Inferred Mineral Resource of 1,365,000 tons grading 0.186 oz. Au/ton (cut*) or 0.275 oz. Au/ton (uncut) as audited and reclassified by a Watts Griffis & McOuat's NI 43-101 Technical Report dated September 2004. (*High gold values cut to 1 oz Au/ton). -***- --------------------------------------------- |   ZONE       TONS    TONNAGE GRADE (OZ/T)*| --------------------------------------------- |No. 10 Zone   216,000         0.224        | --------------------------------------------- |No. 4 Plug  1,149,000         0.179        | --------------------------------------------- -****- *(high gold values cut to 1 oz Au/ton) Inferred Historical non-compliant NI 43-101 tonnage estimates for four other zones are shown below: -***- --------------------------------------------- |     ZONE       TONS   TONNAGE GRADE (OZ/T)| --------------------------------------------- |Parallel Zones  98,000        0.386        | --------------------------------------------- |No. 4 Plug     152,000        0.185        | --------------------------------------------- |No. 1 Vein     164,000         0.26        | --------------------------------------------- |No. 6 Vein     117,000         0.20        | --------------------------------------------- -****- The No. 10 Zone and the Parallel Zones are in close proximity and could potentially be serviced from the same decline or shaft.  Other important advantages are good road access and the availability of milling facilities in the immediate area that will process ore on a custom-milling basis. The latest drill program has provided the Company with very encouraging results and has excellent potential to add to the inferred resources referenced above.  In addition to eight known zones, the property encompasses more than 20 exploration targets generated by either deep-penetrating VTEM geophysical surveys or MMI (mobile metal ion) geochemical surveys conducted during the past two years. Don Cross, P. Eng., is the designated Qualified Person responsible for exploration on the Lamaque Property. The Company In addition to the wholly owned Lamaque Property, Kalahari Resources holds interests in diamond projects in Ontario and the Northwest Territories, as well as a gold-molybdenum prospect in Ontario. The diamond assets include a 19.38% interest in the Back Lake Project, 270 kilometers northeast of Yellowknife, and a 50% interest in diamond properties in the Chapleau-Wawa district of Ontario, with the balance held by partner Chalice Diamond Corp. The Company's main asset is the Lamaque Gold Property.  Complete drilling information for this project can be found on the Company's website at www.kalahari-resources.com. Results of recent drilling are highlighted below. NOTE: In order to be consistent with the historical data from the property, the drilling results are provided in feet and ounces per ton gold. CONTACT INFORMATION Corporate Inquiries: Kevin Hull or Alan Campbell (604) 685-2222 [email protected] Or visit our website: www.kalahari-resources.com to see the Smartstox Interview with Richard Hughes. The statements made in this news 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. -***- ----------------------------------------------- |   SIGNIFICANT GOLD INTERSECTIONS (UNCUT)    | ----------------------------------------------- | DDH NO    FROM    WIDTH (FT) GOLD OZ/TON    | ----------------------------------------------- |V10-08-01 167.20      1.90       0.372       | ----------------------------------------------- |   or     167.20      6.00       0.118     * | ----------------------------------------------- |          182.70      3.80       0.068       | ----------------------------------------------- |          590.40      2.00       0.494       | ----------------------------------------------- |   or     590.40      6.00       0.164     * | ----------------------------------------------- |          674.40      3.00       0.197       | ----------------------------------------------- |   or     674.40      6.00       0.100     * | ----------------------------------------------- |V10-08-02 No significant values              | ----------------------------------------------- |V10-08-03 No significant values              | ----------------------------------------------- |V10-08-04 918.50      3.50       0.212       | ----------------------------------------------- |   or     918.50      6.00       0.123     * | ----------------------------------------------- |V10-08-05 1193.20     2.40       1.773       | ----------------------------------------------- |   or     1193.20     6.00       0.709     * | ----------------------------------------------- |V10-08-06 1010.60     1.00       0.161       | ----------------------------------------------- |V10-08-07 220.00      1.50       0.102       | ----------------------------------------------- |          562.20      1.00       0.222       | ----------------------------------------------- |          563.20      2.10       2.360       | ----------------------------------------------- |   or     562.20      6.00       0.863     * | ----------------------------------------------- |          603.20      2.00       1.100       | ----------------------------------------------- |   or     603.20      6.00       0.370     * | ----------------------------------------------- |          627.50      2.00       0.271       | ----------------------------------------------- |          732.00      1.00       0.400       | ----------------------------------------------- |          733.00      3.50       0.460       | ----------------------------------------------- |          732.00      6.00       0.340     * | ----------------------------------------------- |          781.40      2.40       0.457       | ----------------------------------------------- |   or     781.40      6.00       0.183     * | ----------------------------------------------- |V10-08-08 531.00      1.00       0.404       | ----------------------------------------------- |          534.80      1.20       0.355       | ----------------------------------------------- |          548.00      2.00       0.440       | ----------------------------------------------- |   or     548.00      6.00       0.147     * | ----------------------------------------------- |          585.00      2.00       0.047       | ----------------------------------------------- |          587.00      2.00       0.049       | ----------------------------------------------- |          641.40      1.40       0.030       | ----------------------------------------------- |          642.80      4.00       0.788       | ----------------------------------------------- |          646.80      1.20       0.012       | ----------------------------------------------- |   or     641.40      6.60       0.621     * | ----------------------------------------------- |          674.00      1.00       0.238       | ----------------------------------------------- |          687.00      1.50       0.123       | ----------------------------------------------- |          719.50      2.00       0.013       | ----------------------------------------------- |          721.50      3.50       0.075       | ----------------------------------------------- -****- (V10-08-08 Continued) -***- ---------------------------------------------- | DDH NO    FROM   WIDTH (FT) GOLD OZ/TON    | ---------------------------------------------- |V10-08-08 725.00     3.00       0.638       | ---------------------------------------------- |          728.00     1.00       0.403       | ---------------------------------------------- |          729.00     3.00       0.369       | ---------------------------------------------- |          732.00     3.00       0.022       | ---------------------------------------------- |   or     721.50    13.50       0.278     * | ---------------------------------------------- |   or     719.50    15.50       0.242     * | ---------------------------------------------- |V10-08-09 889.80     1.70       0.395       | ---------------------------------------------- |          898.60     2.40       0.228       | ---------------------------------------------- |   or     889.80    11.20       0.114     * | ---------------------------------------------- |V10-08-10 250.00     3.00       0.026       | ---------------------------------------------- |          253.00     3.00       0.023       | ---------------------------------------------- |          256.00     2.00       0.021       | ---------------------------------------------- |          267.20     1.20       0.217       | ---------------------------------------------- |          442.40     2.00       0.404       | ---------------------------------------------- |          446.00     4.00       0.084       | ---------------------------------------------- |   or     442.40     7.60       0.150     * | ---------------------------------------------- |          875.40     4.00       0.388       | ---------------------------------------------- |          879.40     1.00       0.170       | ---------------------------------------------- |   or     875.40     5.00       0.320       | ---------------------------------------------- |   or     875.40     6.00       0.309     * | ---------------------------------------------- |V10-08-11 No significant Values             | ---------------------------------------------- |V10-08-12 926.20     1.70       0.171       | ---------------------------------------------- |          959.60     2.40       0.134       | ---------------------------------------------- |          980.00     2.00       0.048       | ---------------------------------------------- |          982.00     1.60       0.099       | ---------------------------------------------- |          983.60     2.40       0.042       | ---------------------------------------------- |V10-08-13 165.50     1.50       0.312       | ---------------------------------------------- |          188.80     1.00       0.145       | ---------------------------------------------- |          189.80     1.00       0.023       | ---------------------------------------------- |          201.70     1.00       0.011       | ---------------------------------------------- |          202.70     3.30       0.506       | ---------------------------------------------- |          206.00     1.00       0.028       | ---------------------------------------------- |   or     201.70     5.30       0.322       | ---------------------------------------------- |   or     201.70     6.00       0.285     * | ---------------------------------------------- -****- Diamond Drill Holes V10-08-14 to V10-08-29 failed to intersect any significant gold intersection as the zone is cut off in an easterly strike direction. Intersections widths are drill hole widths *Minimum mining width 6.0 feet Source: Kalahari Resources Inc.  (TSX-V: KS) Maximum News Dissemination by Filing Services Canada Inc. * www.usetdas.com

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