708,000 pt-eq ounces

On a platinum equivalent (Pt-Eq) basis the Mineral Resources have been estimated as:

Open Pit (0.61g/t Pt-Eq cut-off)

? Indicated Mineral Resource: 8.02 Mt @ 2.29g/t Pt-Eq for 591,000 Pt-Eq ounces
? Inferred Mineral Resource: 0.05 Mt @ 2.06g/t Pt-Eq for 4,000 Pt-Eq ounces

Underground (1.94g/t Pt-Eq cut-off)

? Indicated Mineral Resource: 1.05 Mt @ 3.47g/t Pt-Eq for 117,000 Pt-Eq ounces
? Inferred Mineral Resource: 0.21 Mt @ 3.00g/t Pt-Eq for 20,000 Pt-Eq ounces

Total Mineral Resources

? Indicated Mineral Resource: 9.06 Mt @ 2.43g/t Pt-Eq for 708,000 Pt-Eq ounces
? Inferred Mineral Resource: 0.27 Mt @ 2.81g/t Pt-Eq for 24,000 Pt-Eq ounces

?This is a robust resource estimate update, based on nearly twice as much drilling as
previously, with 97% now in the Indicated Resource category? said Keith Watkins, Magma?s
Executive Chairman. ?The objective of converting most of the previously defined Inferred
Resources into the Indicated Resources category has been achieved. This conversion will
facilitate detailed modelling of the interface between the proposed open pit and underground
mines, and the design of the proposed underground mine, in the current Scoping Study,
which is scheduled for completion in the December quarter, 2010?.