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NEWS

Bauba releases assay and drilling results

2010-09-30


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Thursday, 30 September 2010: Bauba Platinum Limited is pleased to announce assay results and drilling progress on the Southern Cluster of the Bauba Project, situated on the Bushveld Complex Eastern Limb.

Bauba has completed the drilling of two boreholes, both of which have successfully intersected the Merensky Reef.

Latest assay results:
Borehole Number 2 (BH 002) intersected the Merensky Reef at a depth of 1 526 metres below datum. The results have revealed a grade (3PGE + Au) of 6.25g/t over a channel width of one metre.

Previously reported assay results:
The Company previously reported that Borehole Number 4 (BH 004) had intersected the Merensky Reef at 1 451 metres below datum. Assay revealed an average PGM grade over a one metre channel of 5.29g/t (3PGE + Au).

Both assay results exceed the Targeted Resource Estimate of 4.60 g/t over a one metre thickness and are in line with results reported on neighbouring properties.

Drilling, sampling and internal quality assurance and control (QAQC) are overseen by consulting geologist, Mr S. Gain. Assays are carried out by Genalysis Laboratory Services.

Drilling Progress:
Drilling of Borehole Number 12 (BH 012) and Borehole Number 6 (BH 006) is currently in progress.

The current depth of BH 012 is 1 480 metres, having intersected the Merensky reef at 1 457 metres below datum. Drilling will continue in order to intersect the UG2 reef.

BH 006 is currently at a depth of 505 metres below datum.

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