Platmin BEE partner, the Moepi Group, repays USD 15m loan

    TORONTO, Nov. 4 /CNW/ - Platmin Limited ("Platmin", TSX/AIM: PPN) is
pleased to advise that its BEE partner, the Moepi Group ("Moepi"), has repaid
in full a loan of USD15m originally loaned for consolidation of the various
BEE partners.
    Moepi presently retain approximately 27.6% of Boynton Investments (Pty)
Ltd ("Boynton") the operating company in South Africa that owns and manages
the three platinum development projects, of which Platmin holds the balance.
Moepi's shareholding interest is in excess of the South African Mining Charter
requirement of '26% by 2014'.
    Moepi recently concluded a merger between the Moepi, the
Bakgatla-ba-Kgafela tribe, which resides in the Pilanesberg region of the
Bushveld Complex, and Pallinghurst Resources Limited, a private equity company
that recently listed on the JSE.
    Moepi Chairman Kwape Mmela said today, "The repayment of this loan
represents a significant step forward for the empowerment of previously
disadvantaged South Africans in the platinum industry. In addition Moepi's
recently concluded merger gives Moepi the ability to contribute financially to
the Boynton development and exploration projects early on in their life cycle
and also potentially gives us the ability to bring platinum resources to the
Boynton table."
    Platmin CEO Ian Watson said today, "We are pleased that Moepi have
demonstrated their ability to contribute financially to the development of a
new platinum business in South Africa. Moepi's recent merger now gives our BEE
status a huge 'tick in the box' as it is truly now broad based and we welcome
over 500,000 people from the Bakgatla-ba-Kgafela to the platinum table."

    About Platmin

    Platmin is an explorer and emerging PGM producer whose four key projects
host mineral resources and reserves: Pilanesberg, Mphahlele, Grootboom and
Loskop. The Pilanesberg Project is under construction with production of PGM
concentrate expected in 2009. All of Platmin's projects are located in the
Bushveld Complex of South Africa, which is estimated to contain approximately
90% of global platinum mineral resources.

    FORWARD-LOOKING INFORMATION, FUTURE ORIENTED FINANCIAL INFORMATION AND
    FINANCIAL OUTLOOKS

    Certain statements contained in this market release constitute
forward-looking information, future oriented financial information, and
financial outlooks (collectively "forward-looking information") within the
meaning of Canadian securities laws. Forward-looking information may relate to
the matters discussed in this market release and other matters identified in
Platmin's public filings, Platmin's future outlook and anticipated events or
results and, in some cases, can be identified by terminology such as "may",
"will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or other similar expressions
concerning matters that are not historical facts. Actual results may vary from
such forward-looking information for a variety of reasons, including those set
forth below.
    Forward-looking statements in this Market Release include statements
regarding the future ability of the Moepi Group bringing platinum resources to
the Boynton table and to contribute financially to the development and
exploration projects of Platmin, and are based on a number of material factors
and assumptions, including, the continued financial ability of the Moepi Group
to contribute financially to the development of the projects and the ability
to bring platinum resources to the Boynton table.
    While Platmin considers these assumptions to be reasonably based on
information currently available to it, they may ultimately prove to be
incorrect.

    %SEDAR: 00023797E

For further information: Ian Watson, Chief Executive Officer, +27 12 661
4280; Terry Holohan, Chief Operating Officer, +27 12 661 4280; Fiona Owen,
Grant Thornton UK LLP (Nominated Adviser), +44 207 383 5100; Marion Brower,
Russell & Associates, +27 11 880 3924