Ann: Resource Upgrade , page-3

NKWE INCREASES RESOURCE BASE BY 55%
Nkwe Platinum’s flagship Tubatse-Garatau Project now has a 68.9Moz JORC Resource
including a 4.5Moz measured resource on the Garatau Project. With over 90 holes
completed there is a significant level of geological confidence in the Project moving
forward.
The 68.9Moz resource has been strengthened by recent results from drilling and
sampling on the Hopenkrantz farm which have now been finalized. The results
established a 24.88Moz resource with an average grade of 4.95g/t (3PGE+Au) from
156Mt comprising:

• Inferred Resource on the UG2 Reef of 11.8Moz at 6.35g/t (3PGE+Au) from
57.7Mt.
• Inferred Resource on the Merensky Reef of 13.11Moz at 4.13g/t (3PGE+Au)
from 98.7Mt

Updated JORC Resource statement for the Tubatse Project
The updated Inferred Resource is now 45.3Moz (3PGE+Au) across the Tubatse Project.
The previous resource totaled 20.4Moz (3PGE+Au).
The inferred resource covers both the Merensky and UG2 horizons across all three
farms comprising the Tubatse Project, being farms Eerste Geluk, Nooitverwacht and
Hopenkrantz.
The Tubatse resource commences from near surface to a depth of no more that 1,100m
for the UG2, with the Merensky Resource commencing form surface to a depth of no
more than 700m below surface.
Nkwe holds a 74% interest in the Garatau Project and a 59% interest over the Tubatse
Project with an option to acquire a 15% interest from International Goldfields Limited.
NKwe is in the final stages of securing the exercise of the IGC 15%.
Nkwe has a Joint Venture option agreement with Xstrata to develop the Tubatse-
Garatau Project with Xstrata having an option to fund the development of two mines and
a concentrator with a stated goal of production of 1 million ounces PGMs per annum.