Namibian Resources PLC
24 October 2007

                             NAMIBIAN RESOURCES PLC

            INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2007


Namibian Resources PLC ("the Company") is pleased to announce its interim
results for the six months ending 31 August 2007.



CHAIRMANS STATEMENT



I am very pleased to announce the unaudited interim results for the six months
ending on the 31st August 2007.



Our progress report of 27th September fully reported the sampling and mining
result to 31st August.  I am pleased to report that mining has recommenced and
production for the first three weeks of October has resulted in a total of 417
carats.  This consisted of 888 stones at an average size of .47 carats per
stone.





Lord Sheppard

Chairman



Enquiries



Tony Carlton   - Chief Executive  - Tel:  020 8726 0900
Oliver Plummer - Finance Director - Tel: 020 7381 0100


Adrian Hadden - Collins Stewart Europe Limited - Tel 020 7523 8350


                       FOR 6 MONTHS ENDED 31 AUGUST 2007

Consolidated income statement


                                                    Note          6 months           6 months        Year ended
                                                                     ended              ended
                                                                 31-Aug-07          31-Aug-06         28-Feb-07
                                                               (Unaudited)        (Unaudited)         (Audited)
                                                                         £                  £                 £
Revenue                                                             77,785            396,353          504,542
Cost of sales                                                     (29,976)          (145,133)         (202,565)

Gross profit                                                        47,809            251,220           301,977
Administrative expenses                                          (162,463)          (143,826)         (310,463)

Operating (loss)/profit                                          (114,654)            107,394           (8,486)

Interest received                                                    6,933              8,035            34,554

(Loss)/profit for the period                                     (107,721)            115,429            26,068

Earnings per share (pence)                            3
Basic                                                               (0.30)               0.30              0.07
Diluted                                                             (0.26)               0.26              0.06




Consolidated balance sheet




                                                   Note          As at 31           As at 31           As at 28
                                                              August 2007        August 2006      February 2007
                                                              (Unaudited)        (Unaudited)      (Audited) GBP
                                                                      GBP                GBP
                                                                        £                  £                  £
Non - current assets

Property, plant and equipment                                   1,136,562          1,553,297          1,172,047
Intangible assets - mining rights                                 826,737            655,589            652,878
                                                                1,963,299          2,208,886          1,824,925
Current assets

Inventories                                                        35,948             27,007             35,948

Trade and other receivables                                        17,370            139,094             23,518

Cash and cash equivalents                                         133,735            468,660            372,188

Current liabilities                                               187,053            634,761            431,654

Trade and other payables                                         (39,341)           (34,235)           (37,847)

Net current assets                                                147,712            600,526            393,807

Total assets less current liabilities                           2,111,011          2,809,412          2,218,732

Equity                                               4

Called up share capital                                         3,792,246          3,792,246          3,792,246

Share premium                                                     359,384            359,384            359,384
Retained earnings                                             (2,040,619)        (1,342,218)        (1,932,898)

Total equity                                                    2,111,011          2,809,412          2,218,732



Consolidated cash flow statement                                  6 Months           6 Months        Year Ended
                                                                     Ended              Ended                28
                                                                 31 August          31 August          February
                                                                      2007               2006              2007
                                                               (Unaudited)        (Unaudited)         (Audited)
                                                                         £                  £                 £
Cash flows from operating activities

Operating (loss)/profit                                          (114,654)            107,394           (8,486)
Depreciation of plant and equipment and                             78,989             78,353           119,925
intangible assets

(Increase)/Decrease in receivables                                  6, 148          (107,719)             7,857

(Decrease)/Increase in payables                                      1,494           (40,428)          (36,816)

Decrease/(Increase) in inventories                                       -              7,637           (1,304)

Net effect of foreign exchange differences                               -           (47,505)          (20,184)

Net cash (outflow)/inflow from operating                          (28,023)            (2,268)            60,992
activities
                                                                  
Cash flows from investing activities
Interest received                                                    6,933              8,035            34,554
Payments to acquire tangible fixed assets                          (30,268)           (25,862)         (137,531)
Payments to acquire intangible fixed assets                       (187,095)                 -          (74,582)

Net cash outflow from investing activities                        (210,430)           (17,827)         (177,559)

Net decrease in cash and cash equivalents                         (238,453)           (20,095)         (116,567)
Cash and cash equivalents at the beginning of the period           372,188            488,755           488,755

Cash and cash equivalents at the end of the period                 133,735            468,660           372,188



Notes to the accounts



1 Basis of preparation



The group has historically prepared its audited annual accounts and unaudited
interim results in accordance with UK generally accepted accounting practice (UK
GAAP).Following new accounting standards the group is now required to present
its annual report and accounts in accordance with International Accounting and
Financial Reporting Standards (IFRS).



The IFRS information in this report for the six months ended 31 August 2007 is a
restatement of information extracted from the statutory financial statements
prepared under UK GAAP on a historical cost basis. Those  statutory accounts
were filed with the Registrar of Companies. The auditors report on those
accounts was unqualified and did not contain a statement under section 237 (2)
or section 237 (3) of the Companies Act 1985.The restated IFRS information
provided for the year ended 28 February 2007 does not constitute statutory
accounts within the meaning of Section 240 of the Companies Act 1985.



However these are anticipated to form the comparative period in the statutory
accounts for the year ending 28 February 2008, the Group's first report to be
prepared in accordance with IFRS.



The unaudited interim results for the six months ended 31 August 2006 and 31
August 2007 have been prepared by the Group in accordance with IFRS and
accounting policies that will be applied when the Group prepares its first IFRS
financial statements for the year ending 28 February 2008.The financial
information for the six months ended 31 August 2007 does not constitute
statutory accounts as defined by Section 240 of the Companies Act 1985.



2. Dividends



No interim dividend is being paid or proposed.



3. Earnings per share



Earnings per share have been calculated on the weighted average number of shares
as follows:


                                                         Number


Ordinary shares in issue                             37,922,460
Ordinary shares in issue diluted                     41,672,460




4. Consolidated statement of changes in equity


                                                      Share            Share           Retained            Total
                                                    capital          premium           earnings           equity
                                                          £                £                  £                £
Balance at 1 March 2007                           3,792,246          359,384        (1,932,898)        2,218,732
Loss for the period                                       -                -          (107,721)        (107,721)

Balance at 31 August 2007                         3,792,246          359,384        (2,040,619)        2,111,011



ENDS


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