December 9, 2008 Erin

Platmin Announces US $175 Million Equity Financing to Fund the Pilanesberg Mine Construction


US$175 million equity investment at C$0.85 (or ZAR 6.8) per share, representing a premium of 67% to the closing share price on the TSX on December 8, 2008 and a premium of 36% to the 30 day average VWAP z Transaction raises sufficient equity funding to complete construction of the Pilanesberg Platinum Project z Platmin will remain unhedged with no additional debt z Once the Moepi Exchange is completed, Platmin will acquire a 100% interest in Boynton and secure control over its cash flows z Pallinghurst and Bakgatla to become the major shareholders in Platmin z Platmin provides update on Pilanesberg Platinum Project z Platmin announces revised estimated operating cash cost of approximately US$400/oz 3PGE+Au which is in lowest quartile for the PGM industry z Capital expenditures remain on-time and on-budget z First production of PGM concentrate on schedule for March 2009

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