Pilanesberg platinum mine receives full power allocation in time for Merensky plant start-up


    TORONTO, June 4 /CNW/ - Platmin Limited ("Platmin", TSX/AIM: PPN) Platmin
announces that Eskom, the South African power utility supplier, yesterday
successfully connected the second phase of the power allocation to the
company's producing Pilanesberg platinum mine on the western limb of the
Bushveld Complex.
    With this development Pilanesberg will now have access to the full 37MVA
as originally requested from the power utility.
    The 15MVA (Phase I) was connected in March 2009 to allow the successful
commissioning of the UG2 metallurgical plant. This plant has now been
operating at its design tonnage capacity since the middle of April 2009.
    Commenting on what this development means for Platmin, CEO Ian Watson
said today, "With Phase 2 and the 37MVA allocation now being available, we are
pleased to be able to start up the Merensky concentrator plant later this
week. This is an important milestone for the company, and is also testimony to
the excellent relationship between our engineers and those of Eskom. With this
power allocation now secured we can confidently continue to ramp up the
metallurgical operations to their design capacity."
    "The Merensky metallurgical plant comprises a Dense Media Separation
(DMS) plant to upgrade the lower grade components of the run-of-mine ores, as
well as a milling and flotation plant to treat a combination of DMS products
and Merensky run-of-mine ores. The stockpile of Merensky material in front of
the plant is presently at over 730 000 tonnes with the mining on track to meet
steady-state ore production in Q3 2009. This plant will be brought on line
over the month of June, which is in line with our previous commissioning
forecasts, and is expected to be operating at design tonnages of 352 000
tonnes of ore per month within three months. The primary milling and flotation
of Merensky ores is expected to commence later this week and once this section
has stabilized, the DMS section will be brought on line," added Terry Holohan,
Chief Operating Officer.
    The latest marketing presentation for Platmin, entitled "South Africa's
next low cost PGM Producer, Q4 FY09 Update, March 23, 2009" can be viewed on
the website at www.platmin.com

    About Platmin

    Platmin is an emerging PGM producer. Its flagship Pilanesberg platinum
mine on the western limb of the Bushveld Complex is currently ramping up to
full production. Platmin also holds interests in a suite of exploration and
development projects, viz Mphahlele, Grootboom and Loskop projects which offer
long-term growth potential on the eastern limb of the Bushveld Complex. The
South African Bushveld Complex is estimated to contain approximately 90% of
global platinum mineral resources.


    Information contained in this Market Release is based on a National
Instrument 43-101 (Standards of Disclosure for Mineral Projects) and Canadian
Institute of Mining, Metallurgy and Petroleum (commonly known as the "CIM"
standards) compliant Independent Technical Report dated August 7, 2007 which
has been filed on SEDAR and is available to be downloaded from www.sedar.com.


    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 future production and are based on a number of material factors and
assumptions, including Eskom supplying adequate power to the PPM operation,
that contracted parties provide goods and/or services on the agreed
timeframes, that equipment necessary for construction and development and
mining is available as scheduled and does not incur unforeseen break downs,
that no labour shortages or delays are incurred, that plant and equipment
function as specified, that no unusual geological or technical problems occur,
and that on-going contractual negotiations will be completely successful and
progressed and/or completed in a timely manner.
    There can be no assurance that Platmin's actual results will match the
forward-looking information as a result of a number of risks for Platmin's
projects with power requirements or otherwise normal hazards (geological,
technical, and production) associated with mining operations, adverse currency
fluctuations, and those risks publicly disclosed by Platmin in its filings
available at www.sedar.com. While Platmin considers these assumptions to be
reasonably based on information currently available to it, they may ultimately
prove to be incorrect.

For further information:

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

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