Update on Maseve Project WESIZWE PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2003/020161/06) JSE code: WEZ ISIN: ZAE000075859 (the "Company" or "Wesizwe") UPDATE ON MASEVE PROJECT Shareholders are advised that at a meeting of the shareholders of Maseve Investments 11 (Pty) Limited (“Maseve”), the operating company of the WBJV Project 1 Platinum Mine (the “Project”), Platinum Group representatives were informed via Africa Wide Mineral Prospecting and Exploration (Pty) Limited (“Africa Wide”) that Africa Wide, a subsidiary of Wesizwe, would not be funding a ZAR213 million (approximately US $ 21.8 million) cash call for its 26% share of a 6 month forward budget for the Project. The cash call to Africa Wide for the Project had been timed to coincide with the final expenditure of funds held in escrow by Maseve for Africa Wide. Wesizwe’s 26% interest in Maseve was derived from the conclusion of the 2008 “Project Delta Agreements” which saw the rationalisation of rights between Anglo American Platinum Limited, Platinum Group Metals Limited (“PTM”) and Wesizwe Platinum Limited. In the process of the rationalisation, PTM earned the right to increase its interest in Maseve to 74%. The proceeds of PTM’s increased interest in Maseve were escrowed by Maseve on behalf of Wesizwe to partially fund Wesizwe’s interest in the development of the Project (the original escrowed amount was ZAR408.81 million). The Company considered the cash call and the project fundamentals in detail, which included a definitive due-diligence review supported by third party experts, and concluded that the Project does not satisfy its investment criteria under current market conditions. In terms of the Maseve shareholder’s agreement, any non-participation in the funding by Africa Wide and the subsequent continued funding by PTM could result in the dilution of Africa Wide’s equity interest in Maseve. The aforementioned potential dillutionary effect is uncertain at this stage and in the event of it materialising, shareholders would be duly informed thereof in a further announcement. Wesizwe wishes to confirm that its 100% held Bakubung Minerals Project remains firmly on track, within budget and well-funded. Shareholders are referred to Wesizwe’s recently announced interim results for further details in this regard. For any enquiries, please contact: Paul Smith Chief Operating Officer Wesizwe Platinum Limited Tel: +27(11) 994 4600 Johannesburg 21 October 2013 Sponsor: PSG Capital Proprietary Limited Date: 21/10/2013 07:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.