APP.L Regulatory News (APP)

5 Oct 2006 15:52

African Platinum Plc05 October 2006 African Platinum plcTicker: APPIndex: AIMSector: Platinum and precious metals AFPLATS CONFIRMS PLANS ON TRACK London, 5 October 2006 - African Platinum plc (Afplats) has noted the declinein its share price in recent days and in response to investor and media querieswishes to state the following: * The company is not aware of any reason for the drop in the share price andconfirms that the fundamentals of the business remain sound. * As announced on Monday, it has been granted a New Order prospecting rightfor the Leeuwkop 402JQ property, its flagship project, thus completing a keystage in the progress of this project. * In addition, it has recently concluded an agreement with Impala RefiningServices (IRS) in terms of which IRS will purchase all the concentrate producedby the Leeuwkop project for a 10-year period from the start of production. * As stated in the company's 2006 annual report, construction of Phase 1 ofthe Leeuwkop project is planned to start in the first quarter of next year. Thefirst ore is expected to be mined in 2008 and the mine is due to reach fullproduction in 2011. Infrastructural work on site is already under way. AFRICAN PLATINUM PLC ENQUIRIES:Chief Executive - Roy PitchfordTel +27 (0)82 419 2581 or +44 (0)77 9390 9985 Investor & Media Relations - Kathy du PlessisTel +27 (0) 11 728 4701, Mobile +27 (0)83 266 5847, E-mail: info@afplats.com Website: www.afplats.com DISCLAIMER: Investing in all equities, including natural resources-relatedequities carries risks which should be taken into consideration when making aninvestment. This announcement contains forward-looking statements regardingAfrican Platinum plc, including the development of its mining developmentprojects. Actual results relating to any and all of these subjects may differmaterially from those presented. This information is provided by RNS The company news service from the London Stock Exchange