PETMIN - RESULTS OF GENERAL MEETING

PETRA MINING LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 72/01062/06)

RESULTS OF GENERAL MEETING AND ANNOUNCEMENT TO SHAREHOLDERS
1. GENERAL MEETING

AT A GENERAL MEETING OF THE SHAREHOLDERS OF PETMIN HELD ON WEDNESDAY, 10
FEBRUARY 1999 THE FOLLOWING RESOLUTIONS WERE PROPOSED AND PASSED:

1.1 THE NUMBER OF AUTHORISED ORDINARY SHARES OF 25 CENTS EACH BE INCREASED FROM
40 000 000 (FORTY MILLION) TO 120 000 000 (ONE HUNDRED AND TWENTY MILLION).
1.2 THE AGREEMENT DATED 2 DECEMBER 1998 ENTERED INTO BY PETREX (PROPRIETARY)
LIMITED ("PETREX"), A WHOLLY OWNED SUBSIDIARY OF PETMIN, AND HARMONY GOLD
MINING COMPANY LIMITED ("HARMONY"), THE VENDOR OF GROOTVLEI PROPRIETARY MINES
LIMITED ("GROOTVLEI") AND CONSOLIDATED MODDERFONTEIN MINES LIMITED ("CONS
MODDER"), WHEREBY PETREX ACQUIRED 100% OF THE ISSUED SHARE CAPITAL OF AND
SHAREHOLDERS LOANS AGAINST GROOTVLEI AND CONS MODDER FOR A NET CONSIDERATION OF
R90 000 000 (NINETY MILLION) ("THE ACQUISITION AGREEMENT"), A COPY OF WHICH WAS
TABLED AT THE MEETING AND INITIALLED BY THE CHAIRMAN FOR THE PURPOSE OF
IDENTIFICATION WAS APPROVED AND RATIFIED AND THAT ANY ONE DIRECTOR OF PETMIN BE
AND IS AUTHORISED TO DO ALL SUCH THINGS AND SIGN DOCUMENTS AS MAY BE NECESSARY
TO GIVE EFFECT HERETO;

1.3 TO PLACE THE UNISSUED SHARES UNDER THE CONTROL OF THE DIRECTORS IN TERMS OF
THE PROVISIONS OF THE COMPANIES ACT, 1973, AS, AMENDED, AND THE RULES AND
REQUIREMENTS OF THE JOHANNESBURG STOCK EXCHANGE ("JSE"); AND

1.4 TO APPROVE THE DECLARATION OF THE DISTRIBUTION OF THE MOLOPE "N" ORDINARY
SHARES HELD BY PETMIN BY WAY OF A DIVIDEND TO ALL SHAREHOLDERS REPRESENTED IN
THE BOOKS OF THE COMPANY AS AT FRIDAY, 29 JANUARY 1999.
2. ANNOUNCEMENT TO SHAREHOLDERS

SHAREHOLDERS ARE ADVISED TO REFER TO THE CIRCULAR TO SHAREHOLDERS DATED 19
JANUARY 1999 ("THE CIRCULAR"), WHEN READING THIS ANNOUNCEMENT. COPIES OF THE
CIRCULAR ARE AVAILABLE AT THE REGISTERED OFFICE OF THE COMPANY.

AS STATED IN PARAGRAPH 17 OF THE CIRCULAR, RONHOLD INVESTMENTS (PROPRIETARY)
LIMITED ("RONHOLD") HAS BROUGHT AN APPLICATION AGAINST HARMONY AND PETMIN TO
INTERDICT THE FINALISATION OF THE ACQUISITION AGREEMENT. LEGAL ADVICE HAS BEEN
SOUGHT AND IT IS BELIEVED THAT THE APPLICATION HAS NO MERIT AND HAS BEEN
OPPOSED. IN ANY EVENT HARMONY HAS IN THE ACQUISITION AGREEMENT WARRANTED THAT,
ON THE CLOSING DATE, IT WILL BE ENTITLED AND ABLE TO GIVE FREE AND UNENCUMBERED
TITLE OF THE SHARES OF AND SHAREHOLDERS LOANS AGAINST GROOTVLEI AND CONS MODDER
TO PETREX IN TERMS OF THE ACQUISITION AGREEMENT. THE ACQUISITION AGREEMENT WAS
SIGNED ON 2 DECEMBER 1998 AND PETREX TOOK POSSESSION OF THE MINING OPERATIONS
OF GROOTVLEI AND CONS MODDER ON 15 DECEMBER 1998. AS STATED IN 1.2 ABOVE THE
ACQUISITION AGREEMENT HAS BEEN APPROVED AND RATIFIED BY THE SHAREHOLDERS OF
PETMIN IN GENERAL MEETING.

THE APPLICATION WAS LAUNCHED IN THE NORMAL COURSE AND NOT BROUGHT AS AN URGENT
APPLICATION AND THEREFORE, SINCE IT IS OPPOSED, WILL NOT ACHIEVE A HEARING IN
COURT AT LEAST UNTIL APRIL OR MAY THIS YEAR.

HARMONY ADVISED RONHOLD OF THE ENVISAGED TIME PERIODS WITHIN WHICH THE
ACQUISITION AGREEMENT WOULD BE FULLY IMPLEMENTED AND THAT ACCORDINGLY THE ONLY
REMEDY WHICH WOULD LIE OPEN TO RONHOLD WOULD BE TO CLAIM FOR DAMAGES. RONHOLD
WAS FURTHER ADVISED THAT HARMONY INTENDED PROCEEDING WITH THE IMPLEMENTATION OF
THE ACQUISITION AGREEMENT, UNLESS IT WAS OTHERWISE ORDERED BY THE COURT.
DESPITE THIS THE APPLICATION IS PROCEEDING ON A NORMAL BASIS.

THE GROOTVLEI AND CONS MODDER SHARES WILL BE TRANSFERRED TO PETREX AND THE 40
000 000 (FORTY MILLION) ORDINARY SHARES ("SETTLEMENT SHARES") IN PETMIN WILL BE
ISSUED ON 15 FEBRUARY 1999. THE SETTLEMENT SHARES WILL HOWEVER NOT BE TRADED ON
THE JSE UNTIL SUCH TIME AS THE LITIGATION HAS BEEN RESOLVED.
PRETORIA
10 FEBRUARY 1999
REGISTERED ADDRESS:
5TH FLOOR GUARANTEE HOUSE
28 VISAGIE STREET
PRETORIA, 0002