Blender - How to extract - export texture maps from a .blend file ***READ DESCRIPTION!!!***

How to extract & export texture maps from a .blend file in Blender.

*** A LOT OF PEOPLE STATING NO TEXTURES &/OR ERROR!? - YOU NEED TO FOLLOW THE STEPS EXACTLY & ENSURE YOU HAVE TEXTURES EMBEDDED IN YOUR .BLEND FILE OTHERWISE NOTHING WILL EXTRACT!***

Not many tutorials around on how to clearly do this task.
Essential for Non-Blender users who only have a .blend file to work with & want to extract maps to import 3d models & apply texture maps in alternative 3d applications.