AQP - Aquarius Platinum Limited - Mimosa Fire Incident - Further update

AQP - Aquarius Platinum Limited - Mimosa Fire Incident - Further update         
Aquarius Platinum Limited                                                       
(Incorporated in Bermuda)                                                       
Registration Number: EC26290                                                    
Share Code JSE: AQP                                                             
ISIN Code: BMG0440M1284                                                         
MIMOSA FIRE INCIDENT- FURTHER UPDATE                                            
Aquarius Platinum Limited ("Aquarius" or the "Company") is pleased to confirm   
that, further to our earlier update stating that all personnel at Mimosa are    
safe and accounted for with no injuries reported, the underground fire has been 
extinguished and a damage assessment has been made.                             
The processing plant operations at Mimosa were unaffected by the fire, which was
confined to underground operations. Mining operations are expected to recommence
by Monday 28 May 2012. It is anticipated that for approximately three weeks,    
mining output will be at an average of 70% of normal production, increasing to  
100% of normal by Monday 18 June 2012. The loss of mining production during this
period is estimated to be 75,000 tons, which is more than covered by the current
stockpile of approximately 130,000 tons.                                        
As a result, PGM production at Mimosa will not be affected by this incident and 
is expected to remain on budget.                                                
For further information please contact:                                         
In the United Kingdom                                                           
Gavin Mackay                                                                    
+44 7909 547 042                                                                
In Australia:                   In South Africa:                                
Willi Boehm                     Stuart Murray                                   
+61 8 9367 5211                 +27 (0) 11 656 1140                             
23 May 2012                                                                     
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 23/05/2012 17:16:15 Supplied by www.sharenet.co.za                     
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