Namibian Resources PLC
25 October 2006



Namibian Resources Plc

Interim Results 31st August 2006



NAMIBIAN RESOURCES PLC

CHAIRMANS STATEMENT INTERIM RESULTS



I am very pleased to announce the unaudited interim results for the six months
ending on the 31st August 2006.



Highlights - figures comparative to first six months of financial year 2005.

Turnover - increased to £396,353 from £294,459 an increase of 34%

Pre-tax operating profit - increased to £107,394 from £4,760 an increase of
2256%

Net current assets - increased to £600,526 from £113,407 an increase of 529%

Stones recovered - increased to 6,650 from 5,576 an increase of 20%

Carats produced - increased to 4,391 from 3,276 an increase of 34%

Average stone size - increased from €59 carats to €66 carats an increase of 12%

Grade i.e. carats per 100 tons - increased from 23cpht to 28cpht an increase of
22%



This production has been achieved despite the worst rainstorm since records
began which occurred in March.  Many of our areas were severely flooded and
access tracks washed away.  Part of the East Saltztal is still flooded but the
water is gradually evaporating.  We estimate that a further 3,000 carats might
remain on this particular resource but mainly under water.  We intend therefore
to carry out a sampling programme on the Annatal just north of the East Saltztal
where past records show that stones of between €25 and 1 carats were recovered
in the early 1900's.  We will return to the East Saltztal when the sampling
programme is complete.  It is encouraging to note that carat production for the
first six months of this financial year is only 533 carats less than for the
whole of the financial year ended on 28th February 2006.



Costs - for the first six months have been contained overall in spite of a large
increase in diesel price.



Staff - the company have paid particular attention to staff welfare and safety.
A modern kitchen and dining room is provided with food of very high quality.
Satelite television is provided as well as pool and darts.  All employees are
provided with bedding, overalls, hard hats, anoraks, jumpers and gloves.
Weatherproof accommodation, shower and toilet facilities as well as laundry
facilities are provided.



The board looks forward to further progress being made in the second half of
this year.



Lord Sheppard of Didgemere KCVO Kt

Chairman





Enquiries

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



                                    NAMIBIAN RESOURCES P.L.C.

                                         INTERIM RESULTS

                                FOR 6 MONTHS ENDED 31 AUGUST 2006





Summarised Income Statement                   6 Months Ended        6 Months Ended      Year Ended
                                                 31-Aug-06              31-Aug-05        28-Feb-06
                                                (Unaudited)            (Unaudited)        (Audited)
                                                    GBP £                  GBP £             GBP £

Turnover                                            396,353               294,459          484,030
Cost of Sales                                     (145,133)             (157,301)        (352,178)

Gross Profit/(Loss)                                 251,220               137,158          131,852

Administrative Expenses                           (143,826)             (132,398)        (205,689)

Operating Profit/(Loss)                             107,394                 4,760         (73,837)

Interest Received                                     8,035                 4,256            9,464
Interest Payable                                          -                     -                -

Net Profit/(Loss) for the period                    115,429                 9,016         (64,373)


Profit/(Loss) per Share                                0.03                  0.01           (0.16)
Total Number of Shares in Issue                  37,922,460            32,837,730       37,922,460



                                           NAMIBIAN RESOURCES P.L.C.

                                                INTERIM RESULTS

                                       FOR 6 MONTHS ENDED 31 AUGUST 2006





Summarised Balance Sheet                        6 Months Ended         6 Months Ended                Year Ended
                                                31 August 2006         31 August 2005              28 February 2006
                                               (Unaudited) GBP        (Unaudited) GBP               (Audited) GBP
                                                       £                       £                           £

Non - Current Assets                               2,208,886             2,045,342                    2,261,377

Tangible Assets                                    1,553,297             1,400,131                    1,506,284
Intangible Assets - Mining Rights                    655,589               645,211                      755,093

Current Assets -
Stock                                                 27,007                     -                       34,644
Debtors                                              139,094                31,918                       31,375
Cash in the bank & in hand                           468,660               154,261                      488,755

                                                     634,761               186,179                      554,774
Current Liabilities -
Creditors & Accruals                                (34,235)              (72,772)                     (74,663)

Net Current Assets                                   600,526               113,407                      480,111

Total Assets Less Current Liabilities              2,809,412             2,158,749                    2,741,488

Capital & Reserve -
Called up Share Capital                            3,792,246             3,283,773                    3,792,246
Share Premium                                        359,384               359,384                      359,384
Profit & Loss Account                            (1,342,218)           (1,484,408)                  (1,410,142)

Shareholders Funds - Equity                        2,809,412             2,158,749                    2,741,488







1.   The interim results are unaudited and do not comprise full accounts within 
     the meaning of Section 240 of the Companies Act 1985.
2.   No interim dividend is being paid or proposed.
3.   Earnings per share have been calculated on ordinary shares in issue


                                             NAMIBIAN RESOURCES P.L.C.

                                                  INTERIM RESULTS

                                         FOR 6 MONTHS ENDED 31 AUGUST 2006





Cash Flow Statement                                       6 Months Ended       6 Months Ended             Year Ended
                                                          31 August 2006       31 August 2005       28 February 2006
                                                         (Unaudited) GBP      (Unaudited) GBP          (Audited) GBP
                                                                       £                    £                     £

Net Cash inflow/(outflow) from Operating Activities
Operating Profit/(Loss)                                           107,394                4,760              (73,837)
Depreciation of Tangible & Intangible Assets                       78,353               95,440               139,543
(Increase)/Decrease in Debtors                                  (107,719)              (6,554)               (6,012)
(Decrease)/Increase in Creditors                                 (40,428)               24,513              (34,644)
Decrease/(Increase) in stock                                        7,637                    -                26,405
Net Effect of Foreign Exchange Differences                       (47,505)                    -                18,152

                                                                  (2,268)              118,159                69,607
Returns on Investment & Servicing of Finance
Interest Received                                                   8,035                4,256                 9,464

Capital Expenditure
Payments to Acquire Tangible Fixed Assets                        (25,862)            (186,126)             (288,374)
Payments to Acquire Intangible Fixed Assets                             -                    -              (28,387)
Payments to Acquire Investments                                         -                    -                     -

Net Cash (outflow) before management
of Liquid Resources & Financing                                  (20,095)             (63,711)             (237,690)


Financing -
Issue of Ordinary Share Capital                                         -                    -             (508,473)
(Decrease)/Increase in Cash during the Period                    (20,095)             (63,711)               270,783

                                                                 (20,095)             (63,711)             (237,690)






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