Wellgreen Platinum Announces Results of 2014 Annual General Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 22, 2014) - Wellgreen Platinum Ltd. (TSX VENTURE:WG)(OTCQX:WGPLF) is pleased to announce the voting results of its annual general and special meeting of shareholders (the "2014 AGM") that was held Friday September 19th. As with last year, shareholder participation at the 2014 AGM was very strong, with approximately 67% of our outstanding shares having been voted at the 2014 AGM.

The following business items were all approved by over 99% of votes cast at the 2014 AGM:

• setting the size of the Board at five;
• voting to re-elect each of the management-nominated directors;
• appointing the Company's auditor; and
• ratifying a shareholder rights plan for the Company.

The five directors of the Company elected at the 2014 AGM are: Wesley J, Hall; Greg Johnson; Myron Manternach; Jeffrey R. Mason; and Mike Sylvestre.

In addition, 99% of votes cast at the 2014 AGM were voted against the Lee Option Extensions (as defined in the Company's Management Proxy Circular dated August 19, 2014), and 95% of votes cast at the 2014 AGM were voted in favour of changing the expiration date to December 19, 2014 for the exercise of all unexercised stock options of the Company held by Mr. John Lee. As a result of the voting by the Company's shareholders on these two resolutions, 2,845,285 stock options of the Company held by Mr. Lee will expire if unexercised on December 19, 2014. The Company has also cancelled an aggregate of 375,000 options that were held by a different former employee of the Company.

Following the 2014 AGM, Wellgreen Platinum's Board of Directors, appointed Myron Manternach, a director of the Company since July 10, 2012, as Chairman of the Board. Mr. Manternach has 20 years of experience in corporate finance, mergers and acquisitions and capital management, including as Managing Director with Octavian Advisors, Vice President with Robeco Investment Management, Senior Analyst with EagleRock Capital and Vice President of investment banking with JPMorgan. Mr. Manternach is currently President of Castle Grove Capital, LLC, a consulting firm that provides strategic and financial advice to investment funds and portfolio companies in the mining and metals, transportation and technology sectors. Mr. Manternach holds an MBA from the Wharton School of the University of Pennsylvania and a B.Sc. in Electrical Engineering with Distinction from Iowa State University.

Greg Johnson, Wellgreen Platinum's President and CEO stated, "We are very pleased with the very high level of shareholder participation and support that we have seen at each of Wellgreen Platinum's last two AGMs, and the resounding majority votes in accordance with management's recommendations. We look forward to continuing to work closely with our shareholders as our management and technical team strives to maximize the value and potential of our promising Wellgreen PGM-Ni-Cu deposit during a period of very strong fundamentals for PGMs and nickel."

Mr. Johnson continued, "We are also pleased to have Mr. Myron Manternach assume the role of Chairman of the Board during this important period of the Company's continued advancement toward production. Following last year's AGM, the Board implemented a rotating chair concept, with a new Chairman to be appointed on an annual basis. Mike Sylvestre was appointed as Chairman after last year's AGM, and is now passing the torch as Chairman of the Board to Myron. We look forward to the upcoming year with Myron as Chairman of the Board. We also thank Mike for his contributions as Chairman over the course of the past year and look forward to his continued support and contributions as a member of the Board."

About Wellgreen Platinum

Wellgreen Platinum Ltd. is a Canadian mining exploration & development company focused on the acquisition and development of platinum group metals (PGM) projects in politically stable, mining-friendly jurisdictions. One of the largest undeveloped PGM-nickel-copper deposits outside southern Africa or Russia, our 100% owned flagship Wellgreen project located in Canada's mining-friendly Yukon Territory is 14 kilometres by all-weather road from the paved Alaska Highway leading to deep sea ports in Haines and Skagway, Alaska.

Wellgreen Platinum Ltd. has an experienced management team with a track record of successful large scale project discovery, development, operations and financing and is focused on advancing Wellgreen towards production.

Forward Looking Information: This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the timing of the updated PEA, the potential of the Wellgreen project, engineering and mine planning, and general future plans and objectives for the Wellgreen project, are forward-looking information that involve various risks and uncertainties. All information in this release, other than information of historical facts, including, without limitation, the timing of the PEA update, the potential of the Wellgreen project, engineering and mine planning, general future plans and objectives for the Wellgreen project are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, the Company's ability to maintain the support of stakeholders necessary to develop the Wellgreen project, unanticipated environmental impacts on operations and costs to remedy same, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our annual filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.

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