Platmin reports further M'Phatlele drill results and confirms reef continuity and grade down to 1,000m


    TORONTO, June 21 /CNW/ - Platmin Limited ("Platmin" or "the Company";
TSX/AIM: PPN) is pleased to announce further encouraging drilling results from
it's M'Phatlele Project for the first phase drilling down to 500m as well as
initial assay results from the second phase drilling down to 1000m.


    -  Assay results from the majority of the first phase drillholes have now
       been received. This drilling is down to 500m and will form the basis
       of a resource revision and pre-feasibility study currently underway
       with SRK Consulting of Johannesberg.
    -  A second phase of drilling aimed at increasing confidence in the
       resource base to a depth of 1,000m and to demonstrate reef continuity
       to a depth of 1,500m is progressing well with two deep capacity drill
       rigs on site.
    -  Initial assay results from the second phase of drilling down to a
       depth of 1,000m confirms reef continuity and grade consistency in both
       the Merensky Reef and UG2 Chromitite Layer.
    -  The M'Phatlele Project has an 8km strike of Merensky Reef and UG2
       Chromitite Layer and is adjacent to Lonmin's Limpopo Platinum
    -  Highlights of the latest drill results can be found at the following

    Results from the First Phase Drill Program to 500m depth

    Assay results from all but two holes in the first phase drilling have
been returned. In this release, results for a further 19 Merensky Reef
intersections and 84 UG2 Chromitite Layer intersections are reported. In the
case of the Merensky Reef these represent 8 mother hole intersections and 11
deflection intersections, and for the UG2 Chromitite Layer 32 mother hole
intersections and 52 deflection intersections. The higher proportion of UG2
results is due to many of the drillholes reported in this release collaring
below the Merensky Reef and accordingly only intersecting the UG2 (generally
at depths less than 200m). Drill results from the M'Phatlele Project were
previously reported in Platmin's Independent Technical Report entitled
"Platmin Limited's South African Platinum Mineral Properties" dated May 15,
2006 as well as releases dated November 27, 2006 and March 15, 2007. The
results reported in this release are those that have been returned since the
March 15, 2007 release. A comprehensive list of all new drill intersections
for both reefs is tabulated in the link below:

    The majority of the results reported in this release are from holes
drilled on the western portion of the M'Phatlele orebody where grades have
generally been higher relative to the eastern portion of the orebody, this is
most notable for the Merensky Reef.
    The first phase drilling down to a depth of 500m on the UG2 Chromitite
Layer will allow for a resource revision of both the Merensky Reef and UG2
Chromitite Layer. A revised resource based on results from the completed
drilling program will form the basis of a pre-feasibility study currently
underway with SRK Consulting.

    Second Phase Drilling Program

    The Company is pleased to report that the second phase drill program
targeting areas down to depths of 1,000m and later 1,500m on the UG2
Chromitite Layer is progressing well. To date, six 1,000m drillholes have been
completed. Assay results are available for three of the holes (MP-082, MP-083
and MP-084) as indicated in the above drilling tables. Further intersections
have been obtained in drillholes MP-080, MP081, MP-085 and MP089 as tabulated

    Drillhole No.       Top MR        Top UG2        Base UG2
                          (m)           (m)             (m)
    MP-080              869.70        1026.94         1028.78
    MP-081              831.81         984.87          988.85
    MP-085(1)           824.47         999.91         1003.66
    MP-089              697.48         834.15          836.58

    Notes to above table

    (1) Drilling of deflections still in progress

    The second phase drilling has so far confirmed the continuity of both
reefs down to depths of approximately 1,000m and across the entire known 8 km
strike. The assay results returned thus far indicate grades for both reef in
line with expectations and the first phase drilling.
    Drillholes to confirm the continuity of the reef down to 1,500m are
currently being planned.
    The M'Phatlele Project drilling map, attached at, illustrates the current status of the
drilling program on the M'Phatlele Project. Drillholes with results reported
in this release as well as second phase drillholes that have intersected the
reef are labelled.

    Background on the M'Phatlele Project

    The M'Phatlele Project is located approximately 50km south of Polokwane,
the capital city of the Limpopo province, and covers an area of 11,725
hectares constituting the entire M'Phatlele 457KS property. The M'Phatlele
Project is located in the northern part of the eastern limb of the Bushveld
Complex, contiguous with Lonmin's Limpopo Platinum operations. At the
M'Phatlele Project the Merensky Reef and UG2 Chromitite layer have been
confirmed over a strike length of approximately 8km; reef strike is east-west
and the average dip is 51 degrees south. Platmin has previously declared an
Inferred Resource of 87.9 Mt at 4.47 g/t 3PGE+Au for 12.6 million ounces on
the property. The resource is from surface to a depth of 1,000m and includes
both the Merensky Reef and UG2 Chromitite Layer. A summary of the resource is
presented in the table below and a map of the project is attached at The resource excludes the
results of the current drill program referred to in this release.

                                          Contained     Reef
    Property and Reef      Tonnage  Grade     Metal    Width     Metal Ratio
    ------------------- ----------- ----- ---------- -------- ---------------
                        000 tonnes    g/t    ounces        m     Pt:Pd:Rh:Au

    Inferred Mineral
      Merensky............. 35,128   3.52  3,980,000     1.41     54:33:3:10
      UG2.................. 52,783   5.11  8,666,000     1.79     50:39:9:2
                           -------- ------ --------- ---------  ------------
    Total Inferred
     Resources............. 87,911   4.47 12,646,000
                           -------- ------ --------- ---------  ------------
                           -------- ------ --------- ---------  ------------

                                         Base Metals
                                Max    --------------------------------------
    Property and Reef       Depth(2)      Ni       Cu         Ni          Cu
    -------------------   ----------    -----    -----   --------    --------
                                  m      ppm      ppm     tonnes      Tonnes

    Inferred Mineral
      Merensky.............   1,000    2,210    1,347     77,640      47,320
      UG2..................   1,000    1,234      684     65,130      36,110
                            --------  -------  -------  ---------   ---------
    Total Inferred
     Resources.............                              142,770      83,430
                            --------  -------  -------  ---------   ---------
                            --------  -------  -------  ---------   ---------

    (1) Platmin, as operator, currently has a 54.29% attributable interest in

    (2) Vertical depth below surface

    (3) Prepared in accordance with the Canadian Institute of Mining,
        Metallurgy and Petroleum commonly known as the CIM standard

    The M'Phatlele resource was calculated by RSG Global and has been
reported in Platmin's Independent Technical Report entitled "Platmin Limited's
South African Platinum Mineral Properties" dated May 15, 2006 which was filed
to SEDAR on August 10, 2006 (hereinafter referred to as Platmin's "Independent
Technical Report"). Platmin's Independent Technical Report can be down loaded

    Quality Assurance, Quality Control and Qualified Persons

    Exploration at the M'Phatlele Project is being conducted under the
supervision of Mr. Mike Bowen, Project Manager for the M'Phatlele Project. Mr.
Bowen (M.Sc. Geology) is a geologist with more than 10 years experience in PGM
exploration and a member of the Geological Society of South Africa. Mr. Bowen
is an independent contractor to Platmin and has assisted in compiling the
information in this release.
    Group Exploration Manager, Mr. John Astrup, the Company's Qualified
Person for the M'Phatlele Project, as defined under National Instrument
43-101, is responsible for the technical material in this release, excluding
the mineral resource estimate. 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. The content of this release
has been compiled by Mr. John Astrup.
    Drillholes were drilled with a combination of NQ, and TNW core; generally
mother holes are completed with NQ core and deflections with TNW core. The
core is logged by qualified geologists and mineralised intervals identified
and sampled. Sample intervals are kept to approximately 20cm; core is then
split by means of a diamond saw. Geological logging and sampling was carried
out under the supervision of Mr. Bowen. Further details of Platmin's
geological procedures have been reported in Platmin's Independent Technical
    Samples are submitted to SGS Lakefield Research Africa Laboratories in
Johannesburg where they are prepared and analysed. Samples are analysed for
Pt, Pd, Au, Rh, Ni and Cu by SGS Lakefield Research Africa 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 analyses are done by Aqua Regia with an AA finish
and reflect the acid soluble metal content. Quality control ("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 Quality Assurance ("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). Further details of Platmin's QA/QC procedures have
been described in Platmin's Independent Technical Report.
    All of the mineral resources reported in this release have previously
been communicated in Platmin's previously filed NI 43-101 and CIM compliant
Independent Technical Report dated May 15, 2006, which can be viewed at

    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 (collectively, the "Key Projects") 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. Platmin's M'Phatlele Project is located on the
eastern limb of South Africa's Bushveld Complex. Lonmin's Limpopo Platinum
operations are located adjacent to Platmin's M'Phatlele Project.

    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, potential mineralization and resources, exploration
results, timing of pre-feasibility studies and resource estimations and the
Company's exploration plans with respect to the M'Phatlele Project or any of
its 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 if 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 (the
inferred mineral resource figures in this release are estimated and no
assurance can be given that the indicated 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

    %SEDAR: 00023797E

For further information:

For further information: Platmin Limited: 6 Eco Fusion, 324 Witch Hazel
Avenue, Highveld Park X59, Centurion, 0157, 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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