ITOCHU Corporation Agrees to Acquire Interest in Extract

ITOCHU Corporation reports through its subsidiary, Nippon Uranium Resources (Australia) Proprietary has agreed to acquire interest in Extract Resources.

For the purposes of applicable Canadian securities law, ITOCHU is deemed to have beneficial ownership of the Extract Shares on the basis that it has acquired the right, whether or not on conditions, to acquire beneficial ownership of the Extract Shares within 60 days.

ITOCHU has agreed to acquire the Extract Shares for AUD$7.00 in cash per share or approximately CDN$6.36 per share and it intends to acquire the Extract Shares for investment purposes, and may increase or decrease the investment in these securities depending on future market conditions and subject to compliance with applicable laws.

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