PLATINA RESOURCES LIMITED — Capital/Financing Update 2009

Apr 22, 2009

ASX Announcement

(Re‐Released from 22 April 2009 to include Inferred Resource grades)

23 April 2009

Platina Signs Ongoing Engineering Services Agreement with GRD Minproc

Platina Resources Limited (ASX: PGM) is pleased to announce that it has signed an agreement with GRD Minproc Limited for study, engineering and project management services.

The initial focus will be on the Skaergaard Resource Development in Greenland. GRD Minproc will commence work immediately updating the scoping study and preparing a detailed project development program in conjunction with Platina personnel.

Platina Executive Chairman Robert W Mosig said the agreement marked another milestone in the development of Skaergaard as a world class gold and platinum group metals deposit.

Mr Mosig said GRD Minproc, which would manage the work through its Brisbane office, was an internationally recognized engineer with extensive design and project delivery experience.

“This agreement is in line with our previously stated aim of advancing our focus at Skaergaard to metallurgical testing and further pre‐feasibility work. GRD Minproc has Greenland experience and also has the capabilities to maintain an involvement through all phases in the development of the project,” Mr Mosig said.

The Skaergaard deposit is located in East Greenland and has an Inferred Resource of 29.6Moz palladium, 10.26Moz gold and 1.95Moz platinum which is both JORC and Canadian NI 43‐101 compliant.

Table 1: Inferred Mineral Resources (Roscoe Postle and Associates, 2005)

			Grades		Contained Metal	Contained Metal	Contained Metal
Zone	Tonnes(Mt)	Au(g/t)	Pd(g/t)	Pt(g/t)	Au(Moz)	Pd(Moz)	Pt(Moz)
Combined	1,520.0	0.21	0.61	0.04	10.26	29.61	1.95
Gold	106.8	1.68	0.59	0.05	5.77	2.03	0.17
Palladium	103.5	0.11	1.91	0.16	0.37	6.35	0.53

Calculated under Canadian National Instrument 43‐101

For and on behalf of the Board Duncan Cornish Company Secretary

Competent Persons Statement The information in this report that relates to Mineral Resources is based on information compiled by Mr R W Mosig who is a full time employee of Platina Resources Limited and who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Mosig has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Mosig consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.