The Genorah Farms

Nkwe Platinum's Eastern Limb project is located in an established mining district with well developed infrastructure with a surface footprint of more than 10,500 hectares, underlain by both the Merensky Reef and UG2 chromitite seam from surface to depth of 1,500m.

Nkwe is currently conducting a Feasibility Study on the Garatouw farm in the north and Eerste Geluk farm in the south with a view to develop two mines with a combined annual production of more than 1 million ounces platinum group metals targeted mineralisation base in excess of 100 million ounces 3PGM+Au. Drilling results to date validate the independently assessed target mineralisation. The potential size and quality of Nkwe's PGM assets make it possible for Nkwe to become an independent PGM producer and strategically utilise independent or joint ventured smelting and refining capabilities.

PHASE 1
Nkwe Platinum finalized the procurement of 74% of the farms Garatouw 282 KT and De Kon 252 KT, totalling a surface area of 3,384ha.

SRK independent report concluded the following based on an assessment of adjacent operations on the same MR/UG2 reef:

• two properties are very likely underlain by both MR and UG2 reefs (now been confirmed by 2 holes)
• Merensky Reef with average mineralisation of 5.5 g/t 3PGE+Au (mineralised cut of 91cm - Marula Operation, Implats)
• UG2 chromitite with average mineralisation 6.1 g/t 3PGE+Au over 100cm for the latter (Modikwa Operation, Anglo Platinum)
• expected scope of mineralisation over these properties in a potential contained metal content below surface access
                                  15moz PGM: < 1,000m
                                  20moz PGM: > 1,000 and < 2,000m

The current drilling program undertaken over these two properties has confirmed the presence of both the reefs and exceeded the grade expectations, with a total of 6 holes having been completed, totalling over 5,000m of core.

Drilling results (previously announced) on the norther Garatouw farm have been extremely positive to date:

• Merensky Reef is averaging 2.83 g/t 4E over 242cm from a depth of 350m
• UG2 chromitite seam is averaging 7.05 g/t 4E (77cm) from a depth of 700m

PHASE 2
Nkwe Platinum finalized an option agreement for 59% shareholding in the southern three farms, Hoepakrantz 291 KT, Nooitverwacht 324 KT and Eerste Geluk 327 KT, totalling a surface area of 7,209ha. Nkwe intends to move to 74%.

SRK independent report concluded the following based on an assessment of adjacent operations:

• consider it very likely that the properties are underlain by both the mineralised horizons (now confirmed by 30 holes)
• average Merensky Reef mineralisation of 2.97 g/t 3PGE+Au (over the full reef width of 230cm - Anglo Platinum Annual Report 2005 - Modikwa operations)
• average UG2 Chromitite mineralisation 6.1 g/t 3GPE+Au over 100cm (Anglo Platinum Modikwa Operation)
• expected scope of the mineralisation over these properties being a potential contained metal content below surface access
                                              in excess of 38moz PGM: < 1,000m
                                              29moz PGM: > 1,000 and < 2,000m

The current drilling program undertaken over two of these three properties has confirmed both the presence of the reefs and the grade estimates, with a total of 30 holes having been completed, totalling over 18,500m of core.

On the southern Eerste Geluk farm:

• Merensky Reef is averaging 2.90 g/t 4E over 218cm and outcrops at surface
• UG2 chromitite seam is averaging 7.45 g/t 4E (77cm) from a depth of 300m

PHASE 3
As part of Nkwe Platinum's drive to consolidate properties, it was obtained an option over two additional contiguous farms, Soupiana 325 KT and Hoogstepunt 290 KT.

The combined area of the 7 properties total over 13,000ha over a strike length of 30km.