results from kalahari “extended" project

19 November 2008
FIRST DRILLING RESULTS FROM KALAHARI “EXTENDED” PROJECT DISCOVERS PGM MINERALISATION OUTSIDE OF THE KALPLATS PROJECT AREA WITH INTERSECTIONS OF 5m @ 3.23 g/t 3E PGM IN HOLE KE001 AND 6m @ 3.19 g/t 3E PGM IN HOLE KE009 Platinum

Australia Limited (ASX: PLA) (AIM: PLAA) is pleased to announce that the first results from the exploration drilling program on the Kalahari Extended (“Kalplats Extended”) Project (PLA 50% : ARMplatinum 50%) have discovered target grade mineralisation in the Kalplats Extended project area with intersections in each of the first two lines of drilling completed. This drilling is approximately 1,500m from the boundary of the Kalplats Project.

The two lines of inclined reverse circulation drill holes were drilled 250m apart along the strike of a magnetic anomaly identified from a detailed aeromagnetic survey and returned 5m @ 3.23 g/t 3E PGM from 72m down hole (including 3m @ 4.65 g/t 3E PGM) in hole KE001 in the first line and 6m @ 3.19 g/t 3E PGM from 33m down hole (including 4m @ 4.28 g/t 3E PGM) in hole KE009 plus 3m @ 3.38 g/t 3E PGM (including 1m @ 6.81 g/t 3E PGM) from 53m down hole in KE008 in the second line. Insufficient drilling has been done so far to accurately determine the dip of the mineralisation but it is likely to be near vertical.
PLA Managing Director John Lewins said: “These results from the first drilling completed on the Kalplats Extended Project are extremely exciting as they prove that the Stella Layered Intrusive (“SLI”) continues along strike from the Kalplats Project area and more importantly that target grade mineralisation is present in the SLI in the Extended Project area. The fact that we obtained similar intersections 250m along strike indicates continuity of the mineralisation and results from further along strike are awaited. The implications for the greater Kalplats Project from these results could be very significant”.