Progress Report

For immediate release 15 October 2010

NAMIBIAN RESOURCES Plc ("the Company")

Progress Report

From 6th March 2010, when the Company resumed limited production, until the 6th October 2010 a total of 717 stones were recovered. The total carats produced was 300·;55 with an average stone size of ·;419.

The Company has had a limited response to its endeavours to raise new capital from a placing and negotiations are continuing. In the meantime the Directors continue to support the company with interest free loans.

A further report on progress will be announced in due course, and the interim results will be notified by the end of November.

Enquiries:

Tony Carlton, CEO, Namibian Resources Plc Telephone: 020 8726 0900

Roland Cornish, Beaumont Cornish Limited Telephone: 020 7628 3396