Measured and Indicated Mineral Resources attributable to Platmin from Tuschenkomst and Ruighoek have increased by 99%



    /NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES
    NEWSWIRE SERVICES/

    TORONTO, April 27 /CNW/ - Platmin Limited ("Platmin", TSX/AIM: PPN) is
pleased to announce the results of updated Mineral Resource estimates on its
Tuschenkomst and Ruighoek properties, which form part of the Pilanesberg
Project.
    In the case of both properties the Mineral Resource estimates were
carried out by SRK Consulting of Johannesburg ("SRK"), as part of SRK's
independent assessment of the Pilanesberg Project. Information contained in
this release is based on a National Instrument 43-101 compliant Independent
Technical Report (the "April 2007 Independent Technical Report" or the "April
ITR") which will be filed on SEDAR shortly and available to be downloaded from
www.sedar.com.

    
    Highlights
    ----------
    Mineral Resources

    -   Tuschenkomst - An updated Measured and Indicated Mineral Resource
        estimate of 66.8 million tonnes ("Mt") at 2.09 g/t (3PGE+Au) for a
        total of 4.49 million ounces has been defined by SRK at Tuschenkomst.
        The revised Mineral Resource estimate is in the context of bulk
        mining as detailed below. This represents a 58% increase in estimated
        Measured and Indicated Mineral Resources, being an increase of
        1.66 Moz in contained 3PGE+Au ounces from the previous estimation of
        2.83 Moz.

    -   Ruighoek - An updated Mineral Resource estimate for Ruighoek has
        increased the "Shallow" Indicated Mineral Resource (0-200m below
        surface) to 12.0 Mt at 3.07 g/t (3PGE+Au) for a total of 1.18 Moz.
        This represents an increase in estimated Indicated Mineral Resources
        of 0.15 Moz, or 14.5% increase in contained ounces (3PGE+Au) from the
        previous estimation of 1.03 Moz.

    -   Attributable to Platmin - Mineral Resources attributable to Platmin
        from the Tuschenkomst and Ruighoek deposits have changed and reflect
        an increase of the estimated Mineral Resources and also changes in
        the underlying ownership of Platmin's subsidiaries. Measured and
        Indicated Mineral Resources attributable to Platmin from Tuschenkomst
        and Ruighoek have increased by 99% or 2.04 Moz of contained Metal
        (3PGE+Au). The estimated Measured and Indicated Mineral Resources
        attributable to Platmin at the Pilanesberg Project are 57.07Mt at
        2.24 g/t 3PGE+Au for 4.10 Moz, and attributable Inferred Mineral
        Resources are 28.35Mt at 4.54 g/t 3PGE+Au for 4.13 Moz.

    Mining Options

        The April 2007 Independent Technical Report indicates that:

    -   The preferred mining option for the Pilanesberg Project is to mine
        the Tuschenkomst and Ruighoek PGE deposits in two large open cast
        mines with treatment of ores through two conventional Merensky and
        UG2 flotation concentrators ("Concentrator") at a combined production
        rate of approximately 250,000 ounces 3PGE+Au per annum in
        concentrate.

    -   On Tuschenkomst, all the silicate reefs (Merensky ("MR"), Upper
        Pseudo ("UPR") and Lower Pseudo ("LPR")) may be suitable to be bulk
        mined as a package together with the parting material consisting of
        Merensky Footwall Mineralisation, "MRFW" and Pseudo Reef Harzburgite
        Mineralisation ("PRHZB"). The UG2 Chromitite Layer ("UG2") is being
        evaluated for selective mining. Some of the lower grade material
        arising from bulk mining of the silicate reef package (MR, MRFW, UPR,
        PRHZB and LPR) on Tuschenkomst would be treated through a dense media
        separation ("DMS") plant to remove low grade material and waste prior
        to milling.

    -   On Ruighoek, the deposit is being considered for selective mining of
        the four individual reefs (MR/UPR/LPR/UG2). The main reason for this
        is the absence of significant Merensky Footwall and Pseudo Reef
        Harzburgite mineralisation in the Ruighoek deposit.

    Feasibility Study

    -   The Pilanesberg Project "Bankable Feasibility Study" ("BFS") is
        underway with SRK engaged as the independent consultant. It is
        anticipated that the BFS will be completed shortly. The updated
        Mineral Resource estimate described in this release forms the Mineral
        Resource base for the BFS. The BFS will be a feasibility study within
        the meaning of NI 43-101 of the Canadian Securities Administrators.

    To view a Summary of Mineral Resources, please follow the
    link below:

    http://files.newswire.ca/533/1Platmin.doc

    PILANESBERG PROJECT

    The Tuschenkomst and Ruighoek properties form part of Platmin's
Pilanesberg Project which is situated approximately 60km north-west of
Rustenburg, a major centre of the platinum mining industry in South Africa.
    SRK has prepared the April 2007 ITR updating Mineral Resource estimates on
Tuschenkomst and Ruighoek as reported in this release. The updated Mineral
Resource estimates reported in the April ITR was evaluated within the context
of potential mining scenarios. The April ITR reported that the optimum mining
and process route consists of:

    -   bulk mining the silicate reefs at Tuschenkomst from the top of the MR
        to the base of the LPR and selectively mining the UG2 reef, with
        processing of the ores through separate UG2 and silicate
        Concentrator;

    -   selective mining of all reefs (MR, UPR, LPR and UG2) at Ruighoek and
        transporting the ore by road to the Concentrator at Tuschenkomst; and

    -   upgrading the bulk silicate reef package in areas away from the
        higher grade pothole areas at Tuschenkomst through a DMS plant to
        remove waste and low grade material before milling (subject to
        further confirmation by metallurgical testing expected shortly).
    

    Mineral Resources

    SRK re-estimated the Tuschenkomst Mineral Resource to incorporate the
mineralised parting material between the MR and UPR (known as the Merensky
Footwall Mineralisation ("MRFW")) and mineralised material between the UPR and
LPR (known as the Pseudo Reef Harzburgite Mineralisation ("PRHZB")). The MRFW
and PRHZB contain PGE mineralisation particularly within and close to pothole
areas, where the MR reef is close to, or potholed onto the UPR.
    The new Mineral Resource for Tuschenkomst is shown in the table below and
indicates the amount of additional mineralisation contributed by the MRFW and
PRHZB material. The Mineral Resource estimation carried out by SRK contains
66.8 Mt at 2.09 g/t (3PGE+Au) for a total of 4.49 Moz. Of this 2.9 Mt of UG2
and LPR at a combined grade of 4.76 g/t 3PGE+Au for 0.45 Moz is within the
Measured Mineral Resource category with the remainder classified as an
Indicated Mineral Resource. This Measured and Indicated Mineral Resource
represents a 58% increase in contained 3PGE+Au ounces from the previous
estimation of 2.83 Moz.

    To view a comprehensive list of all new drill intersections, please
follow the link below:

    http://files.newswire.ca/533/2Platmin.doc

    A revised Mineral Resource was also estimated for the Ruighoek mineral
deposit with selective mining of the four individual reefs (MR/UPR/LPR/UG2)
being reported as the optimal mining method. The revised Mineral Resource
estimate for Ruighoek has increased the "Shallow" Indicated Mineral Resource
(0-200m below surface) to 12.0 Mt at 3.07 g/t (3PGE+Au) for a total of
1.18 Moz. This represents an increase of 0.15 Moz or in contained 3PGE+Au
ounces from the previous estimation of 1.03 Moz. In addition to the Indicated
Mineral Resource on Ruighoek an Inferred Mineral Resource is also present. The
Inferred Mineral Resource estimate has decreased slightly and reflects a
portion of the previous Inferred Mineral Resource estimate being upgraded to
an Indicated Mineral Resource estimate.

    To view a comprehensive list of all new drill intersections, please
follow the link below:

    http://files.newswire.ca/533/3Platmin.doc

    Total Mineral Resources for the entire Pilanesberg Project have been
updated and are summarised in the Table below. The entire Pilanesberg Project
includes Ruighoek and Tuschenkomst as well as portions of 6 other properties.
Of these other properties, resources have also been defined on Witkleifontein
and Rooderand. Total Measured and Indicated Mineral Resources now stand at
78.8 Mt at 2.24 g/t 3PGE+Au for 5.67 Moz. Inferred Mineral Resources now total
39.2 Mt at 4.54 g/t 3PGE+Au for 5.71 Moz.
    The National Instrument 43-101 compliant Independent Technical Report
(the April 2007 Independent Technical Report) prepared in accordance with the
Canadian Institute of mining, Metallurgy and Petroleum commonly known as the
CIM standard) for the revised Mineral Resource estimates on Tuschenkomst and
Ruighoek as disclosed in this release is due for filing on SEDAR shortly and
will be available for download at www.sedar.com.

    To view a comprehensive list of all new drill intersections, please
follow the link below:

    http://files.newswire.ca/533/4Platmin.doc

    Attributable Mineral Resources

    Mineral Resources attributable to Platmin from the Tuschenkomst and
Ruighoek Mineral deposits have changed and reflect upgrading of the Mineral
Resource estimates and also changes in the underlying ownership of Platmin's
subsidiaries. Measured and Indicated Mineral Resources attributable to Platmin
from both Tuschenkomst and Ruighoek have increased by 98.9% or 2.04 Moz of
contained Metal (3PGE+Au). Inferred Mineral Resources (which are only
applicable to Ruighoek) have decreased by 15.9% or 0.34 Moz of contained Metal
(3PGE+Au). A summary of Mineral Resources attributable to Platmin for the
entire Pilanesberg Project are presented below.

    To view a comprehensive list of all new drill intersections, please
follow the link below:

    http://files.newswire.ca/533/5Platmin.doc

    Feasibility Study

    It is anticipated that the BFS will be completed shortly. The April ITR
Report has indicated that the Tuschenkomst and Ruighoek PGE deposits should
optimally be mined in two large open cast operations with treatment of ores
through two conventional Merensky and UG2 flotation concentrators. The BFS
contemplates mining 3.78 and 0.6 Mt of ore per annum from the Tuschenkomst and
Ruighoek open cast operations respectively for an estimated combined total
annual production of 250,000 ounces 3PGE+Au in concentrate.
    Some of the lower grade material arising from the bulk mining of the
silicate reef package (MR, MRFW, UPR, PRHZB and LPR) on Tuschenkomst will be
treated through a DMS plant to remove low grade material and waste prior to
milling.

    Quality Assurance, Quality Control and Qualified Persons

    Exploration at the Tuschenkomst Property of the Pilanesberg Project is
being conducted under the supervision of Mr Grant Hayward a Senior Project
Geologist. Mr Hayward (BSc. Geology) is a geologist with more than 18 years
experience in precious metals exploration and mining and is a registered
Professional Natural Scientist ("Pr.Sci.Nat.") with the South African Council
of Natural Scientific Professions ("SACNASP"). Mr Hayward is an employee of
Platmin and has contributed to the content of this release.
    Exploration at the Ruighoek Property of the Pilanesberg Project is being
conducted under the supervision of Mr John Astrup, Platmin's Exploration
Manager. Mr Astrup (M.Sc. Exploration Geology) is a registered Professional
Natural Scientist ("Pr.Sci.Nat.") with the South African Council for Natural
Scientific Professions ("SACNASP") and has 10 years of experience in PGM, Ni,
Cu exploration. Mr. Astrup is an employee of Platmin and has contributed to
the content of this release.
    Project Management at the Pilanesberg Project (covering all aspects of
the Bankable Feasibility Study) is being conducted under the supervision of
Dr Paul Woolrich, a geologist with over 30 years experience in the exploration
and mining industry, focusing on gold, PGE and base metals throughout the
world. Dr Woolrich is a Member of the AusIMM.
    Group Exploration Manager, Mr John Astrup, the Company's Qualified Person
(as defined in National Instrument 43-101 (Standards of disclosure for Mineral
projects)) for the Pilanesberg Project is responsible for the technical
material in this release, excluding the mineral resource estimate. Mr Astrup
has verified the data disclosed in this release, including the drillcore
sampling, analytical and the data underlying the resource estimation. Mr John
Astrup (M.Sc. Exploration Geology) is a registered Professional Natural
Scientist ("Pr.Sci.Nat.") with the South African Council for Natural
Scientific Professions ("SACNASP") and has 10 years of experience in PGM, Ni,
Cu exploration.
    Drill holes were drilled with a combination of diamond drill core of size
47.6mm in diameter ("NQ"), diamond drill core of size 61mm in diameter ("TNW")
and diamond drill core of size 65mm in diameter ("HMLC") core; where reef
intersections are expected to be in weathered material, drilling comprises
triple tube drilling with HMLC sized core. Fresh reef intersections are cut
with either NQ or TNW core depending on the drill rig used. The core is logged
by qualified geologists and mineralised intervals are identified and sampled.
Sample intervals are kept to approximately 20cm width and core is then split
by means of a diamond saw. Geological logging and sampling was carried out
under the supervision of Mr Hayward and Mr Astrup. Further details of
Platmin's geological procedures have been reported in Platmin's Independent
Technical Report dated May 15, 2006.
    Samples are submitted to SGS Lakefield Research Africa Laboratories in
Johannesburg ("Lakefield") where they are prepared and analysed for Pt, Pd,
Au, Rh, Ni and Cu. Lakefield is an ISO 17025 accredited laboratory. Pt, Pd and
Au analyses were carried out using a lead fire assay technique with a silver
collector and ICP-OES finish, Rh is analysed with a separate lead fire assay
using a palladium collector and ICP-OES finish. Ni and Cu analysis is done by
Aqua Regia with an AA finish and reflect the acid soluble metal content.
Quality Assurance, Quality Control ("QA/QC") procedures include the submission
of certified standards with every reef intersection submitted. Results of the
standards are analysed on a batch by batch basis as is all internal QA/QC
included by the laboratory which includes laboratory repeats, standards and
blanks. Prior to major revisions to the resource estimates, a selection of
pulps that have been returned from Lakefield are relabelled and resubmitted to
Lakefield for check analyses, in addition further pulps are submitted to an
independent second or referee laboratory (Genalysis Laboratory Services (Pty)
Limited). Further details of Platmin's QA/QC procedures have been described in
Platmin's Independent Technical Report dated May 15, 2006.
    Mr Victor Simposya is employed by SRK Consulting and is the Qualified
Person (as defined in National Instrument 43-101 (Standards of disclosure for
Mineral projects)) for the Mineral Resource estimation on the Tuschenkomst
Property reported in this release. He is registered with the South African
Council for Natural Scientific professions ("Pr.Sci.Nat") and has 28 years
experience as a geologist and 17 years in mineral resource estimation. The
Tuschenkomst reef models were generated from composites of the drillhole reef
picks. There are two main facies identified, pothole and contact and
geostatistical modelling of the variables within each reef were constrained to
the boundaries of the facies. A 2D geostatistical modelling approach was
adopted for each facies and estimation was based on the reef width and
accumulations of width and grade variables using ordinary co-kriging. The
search parameters were developed based on the quality of the mineralised width
estimates.
    Drillhole sampling in the MRFW and PRHZB zones is incomplete with either
portions of the intersected zones sampled and or the entire drillhole
intersection not sampled. The resource model was based on the total
intersected thickness of the zones but the composites grades were derived from
the sampled intervals over the total intersected thickness. Unsampled
drillholes were assigned zero grade values over the total intersected
thickness. The approach adopted for the geostatistical modelling and grade
estimation of the main reefs was applied for the MRFW and PRHZB intersections
within each of the facies. Estimation was by ordinary kriging into a 2D model
of the width and accumulations within a search neighbourhood developed from
the geostatistical studies.
    The grade estimates for the main reefs and the MRFW and PRHZB were back
calculated from the estimates of width and accumulations and these were then
migrated into the 3D model for each reef.
    Mr Mark Wanless is employed by SRK Consulting and is the Qualified Person
(as defined in National Instrument 43-101 (Standards of disclosure for Mineral
projects)) for the Mineral Resource estimation on the Ruighoek Property
reported in this release. He is registered with the South African Council for
Natural Scientific professions ("Pr.Sci.Nat") and has 11 years experience as a
geologist and nine years in mineral resource estimation.
    Wireframe surface models are created for the four reef packages, namely
the Merensky, Upper Pseudo, Lower Pseudo and UG2 Reefs (MR, UPR, LPR, and UG2
respectively). Composites are created for each drillhole based on the
lithology and grade, which are used to generate a seam model, by interpolating
thicknesses into the wireframe. The four mineralised layers are consistent
across the property which allows a 2D approach to the mineral resource
estimate. A two dimensional block model is populated with metal accumulations
and thickness for Pt, Pd, Rh and Au utilising ordinary co-Kriging and ordinary
Kriging for the two base metal accumulations. For the MR, the presence of
three facies resulted in the use of simple Kriging and simple co-Kriging with
a mean value for each facies. The two dimensional model was migrated into the
three dimensional framework defined by the seam models.
    A dilution envelope of mineralised material was included for each of the
four reefs. The dilution envelope thickness was based on minimum mining cuts
calculated for each drillhole intersection, and interpolated onto the seam
model wireframes. The average grade of the top cut composite values in each
dilution envelope was assigned to the diluting material.
    Mr Andre van der Merwe is employed by SRK Consulting and is a Qualified
Person (as defined in National Instrument 43-101 (Standards of disclosure for
Mineral projects)). Mr van der Merwe has compiled the Technical Report
covering the Mineral Resource estimation on the both the Tuschenkomst and
Ruighoek Properties reported in this release. He is registered with the South
African Council for Natural Scientific professions ("Pr.Sci.Nat"), is a Member
of the Australasian Institute of Mining and Metallurgy ("AusIMM") and has 19
years experience as an exploration and mining geologist.

    About Platmin

    Platmin is a TSX and AIM (PPN) listed exploration and development company
focused on its four key project areas: Pilanesberg, M'Phatlele, Grootboom, and
Loskop on which PGM mineral resources have been estimated. All of Platmin's
projects are located in the Bushveld Complex of South Africa, which region is
estimated to contain approximately 90% of global platinum resources.

    
                               www.platmin.com
    

    This release contains forward-looking statements that are not historical
facts. Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied by such
forward-looking statements. Forward looking statements in this release
include, but are not limited to, statements regarding the estimation of
mineral resources and/or reserves, potential mineralization and mineral
resources and/or reserves, exploration results, the use of or the successful
implementation of or any implementation at all of or otherwise of reported
mining options - optimal or not, or the success of any mining options used in
the future including potential open cast mining of deposits, treatment of ore
through conventional concentrators, achieving a production rate of 250,000
ounces per annum in concentrate or any production at all, bulk mining of the
silicate reefs or selective mining of the UG2 Chromitite Layer, or bulk mining
or selective mining of any reef horizons or any part of any deposit of
Platmin, the success of treatment of any material through a dense media
separator plant, positive results from expected metallurgical testing and also
as related to dense media separation or otherwise, upgrading of mineral
resources into mineral reserves or upgrading of inferred mineral resources or
indicated mineral resources into higher mineral resource categories, the
completion of the Pilanesberg Bankable Feasibility Study and/or the result or
outcome of such Bankable Feasibility Study, and all of the beforementioned as
applicable to any of Platmin's Key Projects. Although Platmin believes that
the assumptions and factors used in preparing the forward-looking statements
are reasonable, undue reliance should not be placed on these statements, which
only apply as of the date of this release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. Platmin
disclaims any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.
Furthermore, forward-looking statements reflect the current expectations and
beliefs of the Company based on information currently available to the
Company. Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to differ
materially from those discussed in the forward-looking statements, and even as
such actual results are realised or substantially realised, there can be no
assurance that they will have the expected consequences to, or effects on the
Company. Factors that would cause actual results or events to differ from
current expectations include, among other things, changes in commodity prices,
changes in equity markets, failure to establish estimated mineral resources or
mineral reserves (the inferred, indicated and measured mineral resource
figures in this release are estimated and no assurance can be given that the
reported levels of minerals will be produced), political risks arising from
operating in Africa, changes to regulations affecting the Company's
activities, delays in obtaining or failures to obtain required regulatory
approvals, failure of equipment, uncertainties relating to the availability
and costs of financing needed in the future, the uncertainties involved in
interpreting drilling results and other geological data, delays in obtaining
geological results, and the other risks involved in the mineral exploration
industry. Any forward-looking statement only speaks as of the date on which it
was made and, except as may be required by applicable securities laws, as
mentioned above in this disclaimer the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new
information, future events or otherwise. As mentioned above, although the
Company believes that the assumptions inherent in the forward-looking
statements are reasonable, forward-looking statements are not guarantees of
future performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein.

    This release does not constitute or form part of any offer or invitation
to sell or issue or any solicitation of any offer to purchase or subscribe for
any securities in any jurisdiction, nor shall it (or any part of it) or the
fact of its distribution form the basis of, or be relied upon in connection
with, or act as any inducement to enter into, any contract or commitment
therefore.





For further information:

For further information: Platmin Limited, 6 EcoFusion Office Park, Block
B, 324, Witch-Hazel Street, Highveld Park X59, 0157 Centurion, 0067 South
Africa, Keith Liddell, Executive Deputy Chairman, +61 8 9221 7466; Ian Watson,
Chief Executive Officer, +27 12 661 4280; RBC Capital Markets, Craig Werstiuk,
+44 20 7653 4567; Grant Thornton Corporate Finance (Nomad), Gerry Beaney, +44
870 991 2589; Haywood Securities, John Willett, (416) 507-2345

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