Petra Mining Limited - Results Of Meetings, Specific Issue Of Shares For Cash

Petra Mining Limited - Results Of Meetings, Specific Issue Of Shares For Cash   
And Further Cautionary Announcement                                             
Petra Mining Limited                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1972/001062/06)                                            
Share code: PET    ISIN: ZAE000010237                                           
("Petmin", or "the company")                                                    
RESULTS OF MEETINGS, SPECIFIC ISSUE OF SHARES FOR CASH AND FURTHER CAUTIONARY   
ANNOUNCEMENT                                                                    
INTRODUCTION                                                                    
Shareholders are referred to the cautionary announcement dated 20 January 2006. 
River Group is authorised to announce that Petmin has reached agreement to      
undertake a specific issue of shares for cash ("the issue") to raise at least   
R60 million at an issue price of 90 cents per new Petmin share. This will       
result in the issue of 66 666 666 new Petmin shares.                            
New Africa Mining Fund Nominees (Pty) Ltd ("NAMF") has agreed to subscribe for  
new Petmin shares to the value of at least R40 million, amounting to 44 444 444 
new Petmin shares.                                                              
PSG Capital (Pty) Ltd ("PSG") and another institution have agreed to subscribe  
for new Petmin shares in the amount of R10 million each in the issue subject,   
inter alia, to:                                                                 
  total amount raised in the issue is not less than R60 million;                
  regulatory approvals be obtained;                                             
requisite number of Petmin shareholders approve the issue in general          
   meeting.                                                                     
RELATED PARTY TRANSACTION                                                       
The specific issue of shares for cash to NAMF and PSG constitutes a related     
party transaction in terms of the Listings Requirements of the JSE Limited      
("JSE").                                                                        
CIRCULAR TO SHAREHOLDERS AND FINANCIAL EFFECTS                                  
A circular containing all information on the issue, the financial effects and   
convening a general meeting of shareholders to vote on the specific issue of    
shares for cash will be posted to shareholders within the next 28 days.         
RESULTS OF THE ANNUAL GENERAL MEETING AND GENERAL MEETING                       
The directors of Petmin are pleased to announce that 82% of the Petmin          
shareholders were present in person or by proxy at the annual general meeting   
and at the general meeting held on 31 January 2006 to approve the resolutions   
tabled.                                                                         
All the resolutions tabled at the annual general meeting were passed            
unanimously and the resolutions in respect of the Petmin share option scheme    
and the change of name of Petra Mining Limited to Petmin Limited tabled at the  
general meeting were also passed unanimously. The time table for the change of  
name is as follows:                                                             
February 2006     

Last date to trade in the old name shares on                     Friday, 10     
Trade in the new name of Petmin commences with the opening of    Monday, 13     
trade on the JSE under the short name of "Petmin", under share                  
code "PET" and with ISIN ZAE000076014 on                                        
Record date                                                      Friday, 17     
New share certificates in the name of Petmin posted to           Monday, 20     
certificated shareholders who have surrendered their share                      
certificates with the "old" name on or before 12:00 on                          
Friday, 10 February 2006. CSDP/Brokers accounts updated                         
with the new name of Petmin.                                                    
FURTHER CAUTIONARY ANNOUNCEMENT                                                 
Shareholders are also advised that the company continues to be involved in      
negotiations, including negotiations with an internationally listed company. If 
successfully concluded, it may have a material effect on the price of the       
company"s securities.                                                           
Accordingly, shareholders are advised to continue to exercise caution when      
dealing in their Petmin securities until a further announcement is made         
Pretoria                                                                        
1 February 2006                                                                 
Sponsor: River Group                                                            
Date: 01/02/2006 08:00:05 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department