Platina Resources Limited: Skaergaard Project Update - Additional Information

14:21 AEST May 1, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.

Brisbane, Australia (ABN Newswire) - Platina Resources Limited (ASX:PGM) refers to the ASX release on the 26th of April, 2012 entitled 'Updated Inferred Mineral Resource for the Skaergaard Gold & PGM Project, Greenland.', and the use of a 1.5g/t gold equivalent (AuEq) cut-off for the high-grade domains. The following additional information is hereby presented:

The AuEq value was calculated as AuEq = Au + (Pd * 0.4), where metal per element is reported in g/t and based on price assumptions of $US1,400 oz Au, $US1,400 oz Pt and $US560 oz Pd and recoveries of 100%. The contained metal and (troy) ounces lie wholly within the Resource boundaries, and it is the Company's opinion that all elements included in the calculation of the gold metal equivalent (i.e., gold, palladium and platinum) have a reasonable potential to be recovered.


About Platina Resources Limited:

Platina Resources Limited (ASX:PGM) has a global portfolio of Platinum Group Metal (PGM), gold and scandium projects, with a core focus on the development of two key advanced assets – the Skaergaard PGM-Gold Project in Greenland and the Owendale Platinum and Scandium Project near Fifield, NSW, Australia.



Contact:

Platina Resources Limited
T: +61-7-5580-9094
F: +61-7-5580-9394
WWW: www.platinaresources.com.au