APP.L Regulatory News (APP)

10 Nov 2005 12:24

African Platinum Plc10 November 2005 African Platinum plcTicker: APPIndex: AIMSector: Exploration AFPLATS APPOINTS SRK AS INDEPENDENT ENGINEER ON LEEUWKOP PROJECT London, 10 November 2005 - AIM-listed platinum exploration and developmentcompany African Platinum (Afplats) announced today that it had appointed SRKConsulting as independent engineer on the Leeuwkop project. SRK is aninternational consulting service formed in 1974, now with 25 offices on sixcontinents, which employs geological, mining, infrastructural and environmentalprofessionals. SRK will conduct a third party due diligence on the definitive feasibility studythat is currently being compiled by Afplats and its advisors. This will producea Competent Persons Report (CPR) that will be used, together with the definitivefeasibility study, by Afplats to approach the capital markets for debt andequity funding. Chief executive Roy Pitchford said the appointment of SRK was anothersignificant milestone in the development of the Leeuwkop project. "The CPR is an integral part of the development process. We are currentlyfinalising the scope of work with our financial advisor, RMB, and all the majorfunding institutions so that the capital raising process will go smoothly whenwe approach the market for any funding required," Pitchford said. Afplats has already spent some ZAR112 million on proving the Leeuwkop resource,which currently stands at 50 million ounces of 4E (the three platinum groupmetals plus gold) but which the company believes has the potential forsignificant expansion. The pre-feasibility study envisages a 300 000 ounce peryear mining and concentrating operation with a life of mine in excess of 20years. AFRICAN PLATINUM PLC ENQUIRIES:Chief Executive - Roy Pitchford+27 (0)82 419 2581 or +44 (0)77 9390 9985Investor & Media Relations - Helen McKane+27 (0)11 728 4701, +27 (0)82 330 2034 (Mobile) or info@afplats.comWebsite: 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