HIGHLIGHTS:

1.7M oz PGM resource
Eastplats has a 75.5% interest
Average Grade of Measured Resource 4.9 g/t (3PGE +Au)
Feasibility Results by early '08
New Order Rights granted
Sylvania alternatives under review

Feasibility Study Underway at the 2 Million Ounce Mareesburg Platinum Project, South Africa.

In February 2004 Eastplats acquired the rights to a 50% interest in the Mareesburg Platinum Project ("Mareesburg") from Samancor by way of a 50:50 Joint Venture with Lion's Head Platinum Pty ("LHP"). Two other agreements enabled Eastplats to purchase a 51% interest in LHP, which holds a 50% interest in the project, thus increasing the Company's interest in Mareesburg to 75.5%.

LHP is a private South African Black Economic Empowerment company that is fully compliant with the South African Mining Charter, and the Mareesburg transaction represents a mutually beneficial empowerment model created between a major South African mining company and Historically Disadvantaged South African ("HDSA") entrepreneurs and mining professionals backed by international capital.

The Mareesburg property lies in the southern part of the Eastern Bushveld approximately 50 km west of Lydenburg, adjacent to Angloplats' proposed new platinum mine on the farm Der Brochen, and Sylvania's Everest North project. The immediate area around Mareesburg is rapidly developing into a major mining district with platinum and chrome mining currently underway and a number of possible new platinum mines being investigated and developed by Angloplats, Impala Platinum and Aquarius. The majority of these platinum mines are planning to mine the UG2 Reef. Access to the property is good and power lines traverse the area.

Qualified consultants with substantial PGM project experience gained on previous PGM projects in South Africa are conducting the feasibility study. Geological work in 2006/7, which included core logging and sampling, was implemented by MSA Geoservices. This work is being undertaken according to strict standards demanded by the SAMREC/SAMVAL codes, and will be JORC compliant. S.R.K. Consultants are supervising all QA/QC requirements to meet these standards. These codes meet the regulatory guidelines for stock exchanges in Canada, the U.S.A., the U.K. and Australia.