PLL - Platfields Limited - Settlement of High Court Litigation between

PLL - Platfields Limited - Settlement of High Court Litigation between          
Rustenburg Platinum Mines Limited and Platfields                                
PLATFIELDS LIMITED                                                              
Incorporated in the Republic of South Africa                                    
(Registration number 2002/005851/06)                                            
Share code: PLL     ISIN: ZAE000151825                                          
("Platfields")                                                                  
SETTLEMENT OF HIGH COURT LITIGATION BETWEEN RUSTENBURG PLATINUM MINES LIMITED   
AND PLATFIELDS                                                                  
1.   In February 2008 Platfields was granted a prospecting right by the         
    Department of Mineral Resources ("DMR") for all minerals over the entire    
farm of Tigerpoort 426KS ("Tigerpoort") which measures 504 hectares in      
    extent and which is situated in Sekhukhune, Limpopo Province ("the          
    Platfields right").                                                         
2.   Rustenburg Platinum Mines Limited ("Rusplats"), a 100% owned subsidiary    
of Anglo American Platinum Limited ("Amplats"), applied to the North        
    Gauteng High Court, Pretoria (Case Number 57809/10) to review and set       
    aside the granting of the Platfields right ("the Review Application") on    
    the basis that the Platfields right overlapped a portion of Tigerpoort      
measuring 172 hectares over which Rusplats had already been granted a       
    mining right ("the competing area").                                        
3.   Platfields and Amplats ("the parties") have settled the litigation on the  
    basis that the ("DMR") will execute a prospecting right in favour of        
Platfields over Tigerpoort which excludes the competing area and which      
    measures 332 hectares in extent ("the non-competing area").                 
4.   Platfields have submitted new sketch plans to the DMR for execution for    
    the non-competing area.                                                     
5.   The parties have agreed that as soon as the DMR have executed the          
    prospecting right in favour of Platfields over the non-competing area,      
    Rusplats will withdraw the Review Application in respect of Tigerpoort      
    and Leeuwkop.                                                               
6.   Following the withdrawal of the Review Application by Rusplats,            
    Platfields will be entitled to continue with its prospecting activities     
    in respect of the non-competing area.                                       
7.   Notwithstanding anything contained herein to the contrary, Platfields      
shall immediately be able to continue with its prospecting activities       
    over Leeuwkop 425KS a Platfields neighbouring prospect.                     
8.   The above settlement and this SENS statement, excluding paragraph 7        
    thereof which is of immediate effect, are both conditional upon the DMR     
executing in favour of Platfields a prospecting right over the non-         
    competing area of Tigerpoort i.e. which excludes the competing area.        
Cape Town                                                                       
26 September 2011                                                               
Sponsor                                                                         
Merchantec Capital                                                              
Date: 26/09/2011 16:50:01 Supplied by www.sharenet.co.za                     
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