Bushveld Minerals Regulatory News (BMN)

7am: 16 April 2012

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Drilling Programme

Bushveld Minerals Limited (AIM:BMN), the mineral development company focused on iron and tin projects in Southern Africa, is pleased to announce the commencement of its work programme on the Bushveld Iron Ore Project, located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa.

Over the next 12 months, the programme will comprise four key components:

·; Resource upgrade (following up on strike extensions to add resource and upgrade the resource category to measured and indicated resource categories)

·; Metallurgical testing programme

·; Infrastructure scoping studies

·; Securing strategic partnerships for future thermal and coking coal supply

The immediate work programme is focussed on increasing the resource from the current 633Mt and upgrading the existing resource categories to measured and indicated resource. The key objectives and highlights of this immediate work programme are as follows:

·; Drilling designed to follow up extensions to the orebody through three boreholes (±600 m) to the immediate north and south of the currently defined resources on the farm Vliegekraal

·; A high-resolution airborne geophysical survey to accurately define additional drilling targets on extensions to the north and south of the known mineralisation (±1000 line kilometres)

·; A geochemical soil sampling programme in conjunction with the high-resolution geophysics to define the drilling targets

·; An estimated 10 additional boreholes (±3000 m) following target delineation to test for additional strike extensions to the current defined resources

At this stage, drilling will be aimed at defining resources in the indicated and inferred categories as per JORC standards, with ± 500m drillhole spacing for shallow boreholes (±200 m depths), and ±1 km drillhole spacing for deeper boreholes (±400 m depths). It is anticipated that the drilling will be mobilised and start the week beginning the 23rd April and will run for about 12 weeks.

In order to carry out this programme, Bushveld has appointed Drillcorp Africa as the drilling contractors for the project, as well as Exige Geophysics to carry out the airborne geophysical surveys. Assays of drill core will be carried out by Setpoint Laboratories with initial results expected during Q2 2012.

Commenting today, Fortune Mojapelo, Chief Executive of Bushveld Minerals, said: "Following the successful listing on AIM last month I am pleased to provide an update on our drilling programme at our Bushveld iron project in South Africa. The drilling and geophysical programmes are designed to expand the current 600Mt JORC resource base which will be followed by the commencement of a scoping study."

Enquiries: info@bushveldminerals.com