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

4 June 2009

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

TORONTO: 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 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.

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.

Definitions:

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.

For further information

Ian Watson, Chief Executive Officer
+27 12 661 4280

Terry Holohan, Chief Operating Officer
+27 12 661 4280

Grant Thornton UK LLP (Nominated Adviser)

Fiona Owen
+44 207 383 5100

Russell & Associates

Marion Brower
+27 11 880 3924

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 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.