WESIZWE PLATINUM GRANTED DMR APPROVAL

22 April 2010
Johannesburg, 22 April 2010: Wesizwe Platinum Limited is pleased to announce that the Department of Mineral Resources has granted the Company all the requisite approvals and consents to conclude its acquisition of a 37% interest in the Western Bushveld Joint Venture (“WBJV”) from Rustenburg Platinum Mines Limited (“RPM”), as well as the concurrent transaction with Platinum Group Metals Limited (“PTM”).

Wesizwe Platinum has now gained full ownership of its core Frischgewaagd-Ledig Project, whilst retaining a 26% shareholding in the WBJV’s Projects 1 & 3.

Wesizwe Platinum Chairman, Dawn Mokhobo, commented: “In fulfilling our strategy of consolidating and rationalising projects adjacent to and near our core project area, we are very pleased that all conditions precedent to the transaction have now been fulfilled. As a result, we have issued 211 850 125 shares to RPM in settlement of the purchase price and I would like to welcome RPM, wholly owned by Anglo Platinum Limited, as a 26.9% shareholder in Wesizwe Platinum and in so doing becoming the largest single shareholder in the Company”.

>> more

<< Go back