WEZ - Wesizwe Platinum - Results of the Annual General Meeting and General

WEZ - Wesizwe Platinum - Results of the Annual General Meeting and General      
Meeting                                                                         
WESIZWE PLATINUM LIMITED                                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number: 2003/020161/06)                                           
JSE code: WEZ       ISIN: ZAE000075859                                          
(the "Company" or "Wesizwe")                                                    
RESULTS OF THE ANNUAL GENERAL MEETING AND GENERAL MEETING                       
Shareholders are hereby advised that the annual general meeting of Wesizwe      
shareholders was held earlier today, 9 March 2011, at Glenhove Conference       
Centre, 52 Glenhove Road, Melrose Estate, Houghton, Johannesburg. Save for      
Ordinary Resolution Number 2, which was not passed, all the other proposed      
resolutions included in the notice of annual general meeting posted to          
shareholders on 11 February 2011, were approved by the majority of shareholders 
present in person and by proxy.                                                 
Shareholders are further advised that all resolutions detailed in the notice of 
general meeting included in the circular posted to shareholders on 11 February  
2011, regarding the total financing solution for the development of the         
Company`s Core Project ("Proposed Transaction") provided by Jinchuan Group      
Limited ("Jinchuan"), China-Africa Development Fund ("CADFund") and Micawber 809
(Proprietary) Limited ("Micawber"), were approved by the requisite majority of  
the Company`s Shareholders present or represented at the general meeting of     
Shareholders held earlier today.                                                
The special resolution authorising the increase in the share capital will be    
submitted for registration at the Companies and Intellectual Property           
Registration Office as soon as possible.                                        
Commenting on the results, Arthur Mashiatshidi, CEO of Wesizwe Platinum, said:  
"today`s shareholders` approval marks a significant milestone towards the       
ultimate finalisation of the Proposed Transaction. All energies are now focused 
on ensuring that the remaining conditions to the transaction are successfully   
achieved, which will then enable Wesizwe Platinum to commence full scale        
construction of its 350,000 ounce a year Frisch-Ledig PGM project."             
The Proposed Transaction is still subject to the fulfilment of the following    
conditions precedent:                                                           
the Company registering the special resolutions with the Companies and          
Intellectual Property Registration Office of South Africa;                      
the approval of the South African Competition Authorities;                      
the approval of the Financial Surveillance Department of the South African      
Reserve Bank;                                                                   
the SRP exempting JNMC, CADFund and Micawber from complying with the            
requirements of Rule 8 of the SRP Code;                                         
all necessary Chinese regulatory approvals having been obtained by Jinchuan and 
CADFund;                                                                        
the Company having delivered to Jinchuan, CADFund a written Black Economic      
Empowerment plan to the satisfaction of Jinchuan and CADFund;                   
the memorandum of association of Micawber having been amended to insert a       
special condition as contemplated in section 53(a) of the Companies Act; and    
Bakubung Minerals (Pty) Limited providing a letter of commitment to Jinchuan    
pursuant to which Bakubung Minerals shall grant to Jinchuan a right of first    
refusal in respect of either (i) all Concentrate produced by the Frischgewaagd- 
Ledig Project on market-related terms and conditions, or (ii) all products      
arising from, or produced by means of, processing or refining the Concentrate,  
if Jinchuan does not exercise its right of first refusal on the Concentrate;    
Johannesburg                                                                    
9 March 2011                                                                    
Sponsor:                                                                        
Investec Bank Limited                                                           
Corporate advisor:                                                              
Qinisele Resources (Pty) Limited                                                
Legal advisor:                                                                  
Deneys Reitz                                                                    
Date: 09/03/2011 12:16:17 Supplied by www.sharenet.co.za                     
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