Other Projects

Platmin’s other projects consist of various portions of the farms Golden Valley 621IQ, Rietfontein 338JQ, Scheiding 407KS (portion 2) and Oorlogsfontein 45KS. These farms are not adjacent to one another. The total area of these farms is approximately 4,591 hectares (Golden Valley 621IQ – 628ha, Oorlogsfontein 45KS – 2,396ha, Rietfontein 338JQ – 1,345ha and Scheiding 407KS portion 2 – 222ha).

Golden Valley

The Golden Valley farm is located approximately 3.5km west of the town of Magaliesburg in the Gauteng Province and 20km west of the city of Krugersdorp.

Previous exploration by Anglo American plc (‘‘Anglo American’’) in the 1970s defined a highly altered, oval-shaped body that is differentiated into an upper orthopyroxenite (now a tremolite-actinolite-talc chlorite rock) overlying a lower peridotite layer (now completely serpentinized). Anglo American estimated an ‘‘inferred’’ resource in 1976 for Golden Valley ; however, this resource does not comply with NI 43-101 or Canadian Institute of Mining and Metallurgy reporting requirements. A subsidiary of Platmin holds the converted Prospecting Right over Golden Valley. A drilling program is currently underway on the Property.

Oorlogsfontein

Oorlogsfontein is located approximately 8km southwest of the town of Mokopane in the Limpopo Province. Mokopane provides a full spectrum of local and urban infrastructure.

Platmin’s interest in Oorlogsfontein is pursuant to an agreement with Platinum Group Metals (RSA) (Pty) Ltd. (PTM) and Africa Wide Investments. Platmin’s subsidiary has a 15% free carried interest in Oorlogsfontein (called "War Springs" by PTM) until a full bankable feasibility study is completed by PTM on the property. Platmin has a beneficial 5.4% in Oorlogsfontein. After PTM has completed a full bankable feasibility study on the Oorlogsfontein property each party to the agreement may elect to contribute to further expenditure on the property pro-rata to their participation interest or to convert to a net profits interest of two percent.

Eighteen drillholes were completed by PTM at Oorlogsfontein by end of May, 2005 (7,433m of drilling). A total of 8,188 samples were collected for the determination of the following elements: Pt, Pd, Au, Cu, Ni, and Co. The mineralization zones are reported to be up to 12m thick with a range of 2PGE+Au grades up to 3.67 g/t. An Inferred Mineral Resource of 29.6 million tonnes of 1.03 g/t of 2PGE+Au resulting in 980,000 ounces has been estimated at Oorlogsfontein, of which approximately 60,000 ounces is attributable to Platmin.

Rietfontein 338JQ

Rietfontein 338JQ is situated approximately 15km south east of the city of Rustenburg close to the major arterial toll road between Pretoria and Rustenburg (N4). The area is well served by platinum mining infrastructure due to the proximity of the large platinum mines of Anglo Platinum, Impala and Lonmin.

There is an operating underground chromite mine on the property, owned by Rustenburg Chrome Mines, and an open-pit mine west of the option area which is also exploiting chromite. West of the option area, but within the Rietfontein farm boundary, there are a number of mini-pits exploiting chromitite layers which outcrop in the northern portion of the farm.

Previous work that has been conducted over the property includes regional mapping by the Council for Geoscience, on which the published geological and metallurgical sheets were based, as well as regional aeromagnetic and gravity surveys that now form part of the public domain data set. Limited exploration including reconnaissance mapping and grab sampling has been done on the property by Platmin.

Platmin's subsidiary Boynton holds a converted prospecting right for the Rietfontein 338JQ property.

Scheiding

The Scheiding property is situated some 80km south of Polokwane in the Limpopo Province. The area is served by platinum mining infrastructure due to the property being immediately adjacent to Lebowa Platinum Mines of Anglo Platinum. Polokwane provides a full spectrum of local and urban infrastructure. Platmin's subsidiary Boynton has an option to purchase certain mineral rights in Scheiding.

Drilling on the property has confirmed the presence of both the Merensky Reef and UG2 Chromitite Layer in a structurally complex setting.