Platmin Limited announces successful placing of US$90 million worth of new shares

TORONTO, Nov. 30 - Platmin Limited ("Platmin" or "the Company"; TSX/AIM: PPN; JSE: PLN) today announces a placing of 98,901,099 new common shares at a price of US$0.91 (CAD$0.93) per common share for total gross proceeds of US$90 million. Of the placement, a total of 83,846,154 common shares will be placed with a subsidiary of Algemene Pensioen Groep N.V. ("APG"). Following completion of the placing, APG will hold, directly and indirectly, 124,998,417 common shares representing approximately 16.7% of the then outstanding common shares.

The net proceeds of the placing will be used for general corporate purposes and for future growth opportunities.

Commenting on the placing and the continued support of APG, Platmin Chairman Brian Gilbertson, commented: "I welcome APG's increased commitment, which strengthens its position as a significant cornerstone investor. Platmin now has a strong register of blue-chip shareholders, leaving the company well placed to pursue its strategic ambitions".

The placing price of US$0.91 (CAD$0.93) represents no discount to the 5 day volume weighted average price of the common shares on the TSX as of the end of trading on November 26, 2010.

APG is a subsidiary of ABP's subsidiary Stichting Pensioenfonds ABP ("National Civil Pension Fund", "ABP") the pension fund for government and education employees in the Netherlands. APG manages pension assets of approximately €240 billion Euros (as at 31 December 2009) on behalf of 20,000 employers and more than four million participants, making it the largest pension fund in the Netherlands and among the three largest pension funds in the world.

Closing of the placing remains subject to certain conditions, including approval of the Toronto Stock Exchange. On completion of the placing, Platmin will have 749,680,768 common shares outstanding.

The placing is a related party transaction under the AIM Rules, as John Calvert is a director of the Energy & Minerals Group ("EMG") and additionally currently has an indirect interest over 10.6% of the Platmin shares. EMG is subscribing for 7,142,858 common shares at the placing price of US$0.91.

The independent directors of Platmin, having consulted with the Company's nominated advisor, Investec Bank plc, consider that the related party transaction is fair and reasonable so far as the shareholders of Platmin are concerned.


About Platmin

Platmin's primary asset is the Pilanesberg Platinum Mine (PPM), which is building up to full production. The focus of the company is on achieving the metal production forecasts predicted in the Bankable Feasibility Study (BFS) for the mine and participating in the considerable investment value creation potential of the consolidation of the western limb of the Bushveld Complex. Platmin also hold interests in projects on the eastern limb. www.platmin.com


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This market release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial and operating performance of Platmin Limited (the "Company" or "Platmin"), its subsidiaries and affiliated companies, and its mineral projects, the future price of platinum or other Platinum Group Elements ("PGEs"), PGE production levels, development of the Pilanesberg Platinum Mine ("PPM"), mining rates, the use of proceeds of the placing, the outcome of regulatory matters, and statements regarding the completion of the placing of new shares. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "targeted" or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements are based on a number of material factors and assumptions, including, that regulatory approvals are received in a timely manner and that contracted parties complete the terms of their agreements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Platmin and/or its subsidiaries and/or its affiliated companies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration and mining activities; development and operational risks; title risks; regulatory risks; conclusions of economic evaluations and studies; fluctuations in the value of the United States dollar relative to the Canadian dollar or South African rand; changes in project parameters as plans continue to be refined; future prices of platinum or other PGEs; possible variations of ore grade or recovery rates (including the existence of potholes, faults and other geological conditions that may affect the existence or recovery of resources and reserves); failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, industrial unrest and strikes and other risks of the mining industry; political instability, insurrection or war; the effect of HIV/AIDS on labour force availability and turnover; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors communicated in the section entitled "Risk Factors" of Platmin's current annual information form ("AIF") and its final short form prospectus dated May 5, 2010, which can both be viewed at www.sedar.com. Although Platmin has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this market release and Platmin disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.

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Charmane Russell
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