Lightly butter a 13x9-inch baking pan. Set aside.
Melt butter in large microwavable bowl. Stir in sweetened condensed milk, corn syrup and sugars. Microwave on HIGH 15 minutes, stirring every 5 minutes. Using a clean spoon, drop a small amount of the caramel mixture into a cup of cold water. When mixture forms a firm ball in the water, it is ready. If the caramel mixture does not form a firm ball, continue microwaving in 5-minute increments, repeating cold water process until a firm ball is formed. Let cool 5 minutes, stirring occasionally. Stir in extracts and salt.
Pour caramel mixture into prepared pan. Allow to cool 2 hours or until firm and cool enough to handle. Cut into bite-size pieces. Wrap individual pieces in wax paper, or place between layers of wax paper, and store in airtight container.
Test Kitchen Tip: To make using a candy thermometer, microwave on HIGH 15 minutes, stirring every 5 minutes. Place candy thermometer into mixture and check temperature. Remove thermometer before placing bowl back into microwave. Continue microwaving in 5-minute increments, checking temperature with clean thermometer until temperature reaches 240°F (soft-ball stage). Continue as directed.