Coronet Resources Limited Update

Update on Recommended Offer to be made by Kalahari Minerals Pty Ltd for the entire issued ordinary share capital of Coronet Resources Limited (‘Coronet’)

On 17 December 2009, Kalahari announced that it intended to make, through its wholly owned, recently incorporated, Australian subsidiary, Kalahari Minerals Pty Ltd, a conditional off-market all share takeover bid for the entire issued ordinary share capital of Coronet to be effected under the Australian Corporations Act.

The Recommended Offer Bidder’s Statement produced by Kalahari Minerals Pty Ltd (the ‘Bidder's Statement’) has now been lodged with the Australian Securities & Investments Commission and sent to Coronet today, in accordance with the Australian Corporations Act.

The date set by Kalahari Minerals Pty Ltd for the purpose of identifying the Coronet shareholders to whom the Bidder’s Statement is to be sent is today, 28 January 2010, and the Bidder’s Statement and Coronet’s response statement will be sent to Coronet shareholders on 29 January 2010.

Unless the context otherwise requires, the defined terms used in this announcement have the meanings given to them in the announcement made on 17 December 2009.

Click here to read the full announcement.