Platinum Australia Limited : Market Update

ASX ANNOUNCEMENT

Platinum Australia Limited (Subject to Deed of Company Arrangement)

ACN 093 417 942 ("the Company" or "PLA") 20 June 2013

ASX code: PLA

Dispute with contract miner satisfactorily resolved, merger with Jubilee Platinum plc on track for completion by mid-August

As announced to the market on 11 June 2013, the previous contract mine operator at the Smokey Hills Mine, Westdawn Investments (Proprietary) Limited t/a JIC Mining Services (JIC), issued an application for the winding up of PhokaThaba Platinum (Pty) Ltd (PhokaThaba) with respect to a dispute concerning payments under the mining contract between PhokaThaba and JIC.
The Deed Administrator is pleased to announce that a full and final settlement of all claims between the parties has been agreed under which PhoktaThaba pays JIC R3,500,000 (A$370,561) and the application by JIC has been withdrawn.
As announced by PLA on 11 June 2013, Jubilee Platinum plc (Jubilee) gave notice to PLA that it considered the application to be a "PLA Regulated Event" under the Implementation Deed. With the withdrawal of the application, any PLA Regulated Event represented by the application has now been rectified.
PLA and Jubilee remain committed to the implementation of the transaction and expect the Scheme to be implemented around mid-August.

BRYAN HUGHES Deed Administrator

Melbourne

Telephone [phone]

[e-mail]
www.pitcher.com.au

Sydney

Telephone [phone]

[e-mail]

Perth

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[e-mail]

Adelaide

Telephone [phone]

[e-mail]

Brisbane

Telephone [phone] partners@pitcherpartners. com.au

Pitcher Partners is an association of independent firms.

Liability limited by a scheme approved under Professional Standards Legislation.

In Western Australia, Pitcher Partners refers to the WA Company and associated entities.