Bushveld Minerals Regulatory News (BMN)

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Operational Update - Mokopane Tin Project: Drilling results from the Zaaiplaats target

Bushveld Minerals Limited (AIM: BMN), a mineral development company focused on iron and tin projects in southern Africa, is pleased to provide an operations update on the Zaaiplaats target of their tin project in Limpopo Province, South Africa. 

Highlights:

·; Mineralisation intersected in almost every borehole drilled in 2012-2013

·; Confirmation of the presence of two main, continuous, near-surface shallow-dipping zones of tin mineralisation

·; Drilling intersections of 3 m @ 0.51% (ZP04), 2 m @ 1.22% (ZP07), 19 m @ 0.16% (ZP11), 7 m @ 0.2% (ZP01), 11 m @ 0.18% (ZP14), 2 m @ 1.03% (ZP15), 4 m @ 0.33% (ZP41), 2 m @ 2.88% (ZP44).

CEO of Bushveld Minerals, Fortune Mojapelo said: "We are pleased with the initial assay results from our Zaaiplaats hard rock target which has been the site of significant tin workings in the past. These results show that mineralisation was intersected in almost every borehole drilled, and confirms the prospectivity of the Zaaiplaats target, especially given the favourable fundamentals for tin in the current market."

Results of assays of recently drilled boreholes at the Zaaiplaats Target

During 2012-2013, 43 boreholes were drilled at the Zaaiplaats Target (totalling 2067.26 m). Assay results have been received for all of these boreholes. Of the 43 boreholes drilled, 39 intersected tin mineralisation (>0.1% SnO2), and down-hole widths and grades for selected mineralised intersections for each borehole are given below. A number of distinct zones of mineralisation are evident, and these merge in some holes. Each mineralised zone appears to be a roughly tabular sheet, dipping at approximately 15˚. These results will be incorporated into a geological and mineralisation model on which a Mineral Resource Estimate for the Zaaiplaats deposit will be calculated, expected July 2013.

The Zaaiplaats tin mine was formerly South Africa's 2nd largest tin mine, having produced over 100 000 tons of tin before it's closure in the late 1980s. These drill results are the first phase of drilling at the Zaaiplaats target, one of 5 targets identified in the licence area, and the second target to be drilled by Bushveld Minerals. Drilling was focused on shallow open-pittable disseminated mineralisation remaining around the old mine workings.

Borehole No From (m) To (m) Width (m) True width (m) Avg grade (%)

ZP01 1.00 8.00 7.00 6.76 0.2

ZP02 4.00 6.00 2.00 1.93 0.18

ZP02 23.00 26.00 3.00 2.90 0.11

ZP03 6.00 10.00 4.00 3.86 0.28

ZP03 35.00 38.00 3.00 2.90 0.16

ZP04 8.00 11.00 3.00 2.90 0.51

ZP04 27.00 30.00 3.00 2.90 0.14

ZP05 13.00 19.00 6.00 5.80 0.14

ZP05 19.00 20.00 1.00 0.97 0.63

ZP05 20.00 22.00 2.00 1.93 0.37

ZP05 22.00 24.00 2.00 1.93 0.13

ZP06 29.00 30.00 1.00 0.97 0.09

ZP07 7.00 9.00 2.00 1.93 1.22

ZP07 12.00 18.00 6.00 5.80 0.13

ZP07 18.00 20.00 2.00 1.93 0.44

ZP08 49.00 50.00 1.00 0.97 1.18

ZP08 51.00 53.00 2.00 1.93 0.14

ZP09 50.00 51.65 1.65 1.59 0.14

ZP10 28.00 30.00 2.00 1.93 0.13

ZP10 34.00 39.00 5.00 4.83 0.14

ZP10 56.00 59.00 3.00 2.90 0.11

ZP11 3.00 22.00 19.00 18.35 0.16

ZP12 20.00 22.00 2.00 1.93 0.41

ZP12 22.00 23.50 1.50 1.45 0.75

ZP12 43.00 45.00 2.00 1.93 0.16

ZP13 31.00 33.00 3.00 2.90 0.25

ZP13 43.50 46.00 2.50 2.41 0.17

ZP14 58.00 69.00 11.00 10.63 0.18

ZP15 52.00 55.00 3.00 2.90 0.23

ZP15 71.00 78.00 7.00 6.76 0.18

ZP15 84.00 86.00 2.00 1.93 1.03

ZP15 95.00 99.00 4.00 3.86 0.27

ZP16 77.00 82.00 5.00 4.83 0.16

ZP17 48.00 50.00 2.00 1.93 0.15

ZP21 2.00 4.00 2.00 1.93 0.16

ZP22 -

ZP23 3.00 5.00 2.00 1.93 0.16

ZP24 -

ZP25 4.00 5.00 1.00 0.97 0.18

ZP26 0.00 3.00 3.00 2.90 0.21

ZP27 0.00 12.00 12.00 11.59 0.14

ZP28 0.00 3.00 3.00 2.90 0.16

ZP29 0.00 1.00 1.00 0.97 0.15

ZP30 8.00 11.00 3.00 2.90 0.17

ZP31 -

ZP32 20.00 21.00 1.00 0.97 0.15

ZP33 12.00 13.00 1.00 0.97 0.13

ZP34 2.00 8.00 6.00 5.80 0.13

ZP35 5.00 6.00 1.00 0.97 0.33

ZP36 -

ZP37 13.00 19.00 6.00 5.80 0.4

ZP38 25.00 28.00 3.00 2.90 0.21

ZP38 45.00 50.00 5.00 4.83 0.18

ZP39 0.00 1.00 1.00 0.97 0.36

ZP41 23.00 27.00 4.00 3.86 0.33

ZP41 27.00 33.00 6.00 5.80 0.13

ZP42 62.00 69.00 7.00 6.76 0.19

ZP43 62.00 65.00 3.00 2.90 0.11

ZP44 23.00 25.00 2.00 1.93 2.88

ZP44 43.00 48.00 5.00 4.83 0.38

ZP45 76.00 77.00 1.00 0.97 18

ZP46 16.00 16.25 0.25 0.24 3.08

ZP47 112.00 113.00 1.00 0.97 0.11

Enquiries: info@bushveldminerals.com

- ENDS -

Notes to the editor

Bushveld Minerals Limited is a mineral development company focused on the Bushveld Iron Ore Project and the Mokopane Tin Project, both located on the northern limb of the Bushveld Complex, South Africa.

The Company was admitted to the Alternative Investment Market of the LSE in March 2012.