Canadian Platinum Corp.
TSX VENTURE : CPC

March 05, 2012 09:00 ET

Canadian Platinum Corp. Announces New Copper-Nickel-PGE Assay Results on Hole 44

CALGARY, ALBERTA--(Marketwire - March 5, 2012) - Canadian Platinum Corp. ("Canadian Platinum" or the "Corporation") (TSX VENTURE:CPC) is pleased to report assay results from diamond drill hole DDH SW-44 of the 2011 Fall Drill Program on the Swan Lake Zone in the Peter Lake Project (the "Project"). The Project, believed to be Canada's newest platinum discovery, is located in northeast Saskatchewan on the "Swan Lake Complex", North America's largest mafic/ultramafic complex. The Corporation's mining claims in the area cover approximately 500,000 acres.

Hole DDH SW-44 intersected mineralized zones with encouraging results (see table below). DDH SW-44 intersected PGE and copper mineralization as follows:

Hole DDH SW-44: 5.1 m grading 0.45% Cu, 0.472 g/t Au+Pt+Pd

Below is a Table details summarizes assay results on holes DDH SW-44.

Drill Hole Depth
(m)
Total Width
(m
) Cu
(%
) Ni
(%
) Co
(g/t
) Au
(g/t
) Pt
(g/t
) Pd
(g/t
) Au+Pt+Pd
(g/t
)
From To
DDH SW-44 294.3 299.8 5.5 0.08 0.02 58 0.032 0.053 0.042 0.131
400.7 406.0 5.3 0.40 0.23 281 0.045 0.027 0.099 0.171
437.0 466.6 29.6 0.20 0.06 72 0.045 0.056 0.061 0.162
Including 461.5 466.6 5.1 0.47 0.15 137 0.109 0.157 0.206 0.472
Including 462.4 465.2 2.8 0.62 0.21 174 0.150 0.200 0.257 0.607

The Swan Lake Zone on the Peter Lake Project (the "Project") is located in north east Saskatchewan on the "Swan Lake Complex", which is North America's largest ultramafic complex. The Corporation's mining claims in the area cover approximately 500,000 acres.

John G. Pearson, PGeo, the Company's qualified person under NI 43-101 in charge of the drilling program, reviewed and approved the technical disclosure of this press release on behalf of the Company.

Canadian Platinum Corp. is a Calgary, Alberta based corporation engaged in the exploration of platinum group and base metals in Canada. For further information please contact:

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release may contain statements within the meaning of safe harbour provisions as defined under United States Securities Laws and Regulations. The above statements are based on the current expectations and beliefs of the management of Canadian Platinum and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above.

Neither the TSX Venture Exchange nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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