8 September 2008

Zambezi Resources Limited

Non Renounceable Rights Issue

In accordance with the timetable in the Rights Issue Prospectus announced on  31 July 2008, Zambezi Resources Limited ("Zambezi" or "the Company") (AIM: ZRL; ASX:ZRL) was due to allot the New Shares and free attaching New Options and despatch holding statements on 9th September 2008.

Further to a request by the Company to facilitate the acceptance of applications for securities under the shortfall arrangements of the prospectus, the Australian Securities Exchange (ASX) has approved the extension of the allotment and despatch date by one week to 16th September 2008.

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