SOURCE: African Platinum PLC

July 08, 2005 06:57 ET

African Platinum Plc announces Inkosi prospect right granted

London -- (MARKET WIRE) -- July 8, 2005 --

African Platinum plc (formerly Southern African Resources Plc)
Ticker: APP (formerly SFU)
Index:  AIM
Sector: Exploration


Positive drill results from Imbasa East more than double strike length of project since April

Johannesburg, 8 July 2005 - London-listed exploration and development company African Platinum has been granted the prospecting right by the Department of Minerals and Energy Affairs in South Africa for various portions of the farm Hartebeestpoort "B" 410 JQ, known as the Inkosi project area, east of its Leeuwkop flagship project.

Chief executive Roy Pitchford said the new prospecting permit occupied the intervening ground between the company's existing land holdings. "Having now rendered the property wholly contiguous, this development marks another key milestone in achieving Afplats's objective of controlling a resource base in excess of 100 million ounces 4E (3 Platinum Group Metals ("PGM") + gold) as part of its greater Leeuwkop development plan on the western bushveld complex," he said.

Afplats today also announced positive drilling results from its Imbasa East project area. The Imbasa project area consists of an east and west portion that lie adjacent to the Leeuwkop project. In April, Afplats announced drill results from the Imbasa West project area which increased the lateral extent of the mineralisation from 6 kilometres to 9 kilometres. The latest results further increase the mineralised strike length by some 45% to 13 kilometres.

UG2 Reef - Imbasa East
Mother Hole   Depth        Total UG2 zone           UG2 Reef only
                           Width     Grade          Width     Grade
                                    (3PGM & Au)               (3PGM & Au)

SIB04         1,173.6m     127m      5.11g/t        70m       6.71g/t

It should be noted that the UG2 zone grade from this drillhole is above the average grade of the inferred resource of 4.9 g/t (3PGM + gold).

"We are delighted with these excellent results," said Pitchford. "With the Inkosi prospecting permit secured, and the positive drilling results from the Imbasa East project area essentially doubling our strike length since April, the company is more confident than ever that it is emerging as the premier exploration and development investment in the platinum sector. In line with our objective of building exceptional value for Afplats' shareholders, we have now mobilised drill rigs to commence infill drilling on Inkosi with the target of proving up an inferred resource over the area by the second quarter of 2006."


Chief Executive - Roy Pitchford
+27 (0)82 419 2581 or +44 (0)77 9390 9985

Investor & Media Relations - Kathy du Plessis
+27 (0)11 728 4701 or +27 (0)83 266 5847 (Mobile)


DISCLAIMER: Investing in all equities, including natural resources-related equities, carries risks which should be taken into consideration when making an investment. This announcement contains forward-looking statements regarding African Platinum plc, including the development of its mining development projects. Actual results relating to any and all of these subjects may differ materially from those presented.

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