APP.L Regulatory News (APP)

23 Nov 2005 08:27

African Platinum Plc23 November 2005 African Platinum plcTicker: APPIndex: AIMSector: Exploration UPGRADED MINERAL RESOURCE STATEMENT FROM AFPLATS London, 23 November 2005 - AIM-listed platinum exploration and developmentcompany African Platinum plc (Afplats) today published an upgraded mineralresource statement on the Leeuwkop project. The following summarises the key points associated with the upgrade: • 5 million ounces 4E (the three platinum group metals plus gold) have beenconverted from the Indicated Category to the Measured Category, the highestconfidence category • An additional 6 million ounces of 4E have been converted from theInferred category to the Indicated category • This has resulted in a total resource of 53 million ounces whichcomprises 5 million ounces in the Measured category, 9 million ounces in theIndicated Category and 39 million ounces in the Inferred category This upgrade in confidence in the resource base includes final results of the 3Dseismic survey completed earlier in the year. The seismic data indicates thatthe Leeuwkop orebody is remarkably consistent over the planned bankable projectarea and reveals no significant geological disturbances. The survey confirmedthe excellent quality of the ground surrounding the proposed shaft positions andthat the orebody is suitable for mechanised mining given the consistent natureof the reef and lack of geological features that could potentially disruptmining operations. Snowden, the independent resource consultants to Afplats, has calculated thefollowing resource statement. UG2 MINERAL RESOURCE Tonnes 3PGE+Au Pt Pd Rh Au OuncesCategory (millions) (g/t) g/t g/t g/t g/t (Moz)Measured 30 5.2 3.1 1.5 0.6