Platmin Limited ("Platmin", TSX/AIM: PPN) is pleased to advise the conclusion of a concentrate off-take agreement between its Pilanesberg Platinum Mines Limited ("Pilanesberg") and Northam Platinum Limited ("Northam").

In terms of the agreement, Northam will provide smelting and refining facilities for the Pilanesberg mine's PGM concentrate. The Pilanesberg open pit mine is currently in the construction phase with over 75% of the plant capital expenditure committed, and presently ramping up the overburden extraction rates during July to approximately 1 million tonnes per month. The mine is due to produce its first metal in the first quarter of calendar year 2009, building up to steady state production of 250,000 oz (3PGM + Au) by mid to late 2009.

Platmin CEO Ian Watson said, "The conclusion of this agreement represents a further step in Platmin's growth from an exploration company into a credible PGM miner and producer. This agreement underpins our revenue and cost forecasts which further confirms the robustness of this project"

Northam's smelter and base metals removal plant are located in the western Bushveld Complex, only 60 kilometers from the Pilanesberg mine, and all its precious metals are refined by WC Heraeus GmbH at their plants in Germany and Port Elizabeth, South Africa.

While Platmin is confident that an adequate power supply will be available from Eskom for the sustained operation of the Northam smelter, Platmin has agreed, that, in the event of insufficient Eskom supply, additional power required will be provided by semi-portable generator sets.

Platmin COO Terry Holohan commented, "The Pilanesberg concentrate package, being a blend of Merensky, Pseudo and UG2 reef horizons, was identified early on in the project to be 'smelter friendly' in that it has a low (~1%) chromitite content. This has made our concentrate a sought after commodity within the platinum industry and we have utilised this to realize some of the best payment terms in the industry."

About Platmin

Platmin is an explorer and emerging PGM producer whose four key projects host mineral resources and reserves: Pilanesberg, Mphahlele, Grootboom and Loskop. The Pilanesberg Project is under construction with production expected in 2009. All of Platmin's projects are located in the Bushveld Complex of South Africa, which is estimated to contain approximately 90% of global platinum mineral resources. – Press Release