Extract Resources Limited, which owns Swakop Uranium, has won the Outstanding Achievement Award - Exploration Project for its world-class Rössing South uranium project in Namibia's Erongo region, at the 2009 Mines and Money Conference in London last month.

This award is presented annually to the top exploration company globally, as rated by subscribers of international publication, Mining Journal. Extract Chairman, Steve Galloway, said the win recognises the size and international significance of Rössing South and follows Extract's successes earlier in 2009 when it won the Resource Stocks Best of the Best Exploration Award and the Excellence in Mining and Exploration Excellence in Growth Award.

"While the Extract and Swakop teams are rightfully proud of these wins, these awards are also a tribute to the Namibian Government which continues to encourage and foster foreign investment. We remain committed to developing a new, world-class uranium mine for our shareholders and for the Namibian nation in a timely and efficient manner," said Galloway. In a press release from Extract, the company believes that Rössing South has the potential "to become one of the world's leading uranium mines," capable of producing 15 million pounds of uranium oxide per year.

Through its development of Rössing South, Extract is committed to delivering significant returns to shareholders and ensuring material benefits to Namibia, according to the statement.

Extract is currently conducting a Feasibility Study for the development of Rössing South (due for completion by mid-2010), as well as delineating the significant new zones of mineralisation that continue to be discovered. Mines and Money London 2009 is one of the pre-eminent international mining and resources conferences, with more than 2 800 participants from around the world.