Precious metals exploration and mining

Bongani Mbindwane, CEO8th BAC Platinum Day

October 2008

2

Disclaimer

All statements in this presentation, other than historical facts, that addressexploration activities and mining potential are forward-looking statements. AlthoughPlatfields Limited believes the expectations expressed in such forward-lookingstatements are based on reasonable assumptions, such statements should not inany way be construed as guarantees of future performance. Factors that could causedevelopments to differ materially from those expressed include exploration results,technical analysis and lack of availability to the company of necessary capital toprogress its projects. The company is subject to specific risks inherent in theexploration and mining business and general economic and business conditions.Thispresentation is not an offer for the sale of or subscription for shares to the public asdefined in the South African Companies Act, No. 61 of 1973 (as amended). Thisdocument does not, nor is it intended to, constitute a prospectus prepared andregistered under such Companies Act. Before any shares in Platfields Limited areoffered to any prospective investor, an appropriate prospectus or other offeringdocument will be prepared.

3

Profile

§ South African precious metals exploration company§ rapid progression to developer, miner

§ Founded in 2002§ 37% black owned§ New order prospecting rights

§ two platinum group metal (PGM) projects§ Berg§ Leeuwkop

§ one gold project§ Grootfonteinberg

§ JSE Main Board listing planned§ Market capitalization of approximately R1 billion

4

Structure

Leeuwkop

Private investors

32.5%* 100%* 100%*

63% BEE investors37%

The Berg Grootfonteinberg

*Attributable resource

5

Mining value curve

Discovery

Pre-feasibility

Feasibility

Mining

Time

Explorationphase

Resource definition

Feasibilitystage

Project development

Mining stage

Valu

e Structured equity and equity

Equity financingPlatfields

Upside opportunity

MiningProject finance

PGM performance

6

0

2'000

4'000

6'000

8'000

10'000

12'000

0

500

1'000

1'500

2'000

2'500

US$

per

rhod

ium

oun

ce

US$

per

pla

tinum

/pal

ladi

um o

unce

Platinum US$/oz Palladium US$/oz Rhodium US$/oz

Source: Johnson Matthey

Platinum surplus/deficit

7

(700)

(600)

(500)

(400)

(300)

(200)

(100)

0

100

2006 2007 2008E 2009E 2010E

Pt surplus Pt deficitSource: SFA Oxford

Gold price performance

8

Source: www.kitco.com

9

Projects: location

10

Berg Project: location

§ 6 000-hectare prospecting area§ crossed by Critical Zone

Roossenekal

Lydenburg

Dullstroom

EastplatsMareesburg

SylvaniaEverest North

Nkwe Plat inumKliprivier

Anglo Platinum/NorthamBooysendal

PlatfieldsBerg

Approximate UG2 outcrop

ARM/ImplatsTwo Rivers

AquariusEverest South

Anglo PlatinumDer Brochen

11

Berg Project: current status

§ Exploration to date:

§ Heliborne aeromagnetic survey

§ comprehens ive field mapping

§ strontium isotope studies

§ borehole drilling

§ UG2 and Merensky reefs intersected

§ Model confirmed

§ Continuity in grade and lithological association

§ Highest grade: 7.47 g/t 4E PGE (BD5 borehole)

§ Mean exploration target: 10.65 MOz 4E PGE

12

Berg Project: further exploration

§ Three-phase drilling programme

§ 60 months

§ 232 boreholes

§ R285 million

§ Phase 1

§ establish inferred resource

§ 12 months

§ 15 boreholes

§ R19.1 million

13

Leeuwkop Project: location

§ 600-hectare prospecting area

§ Adjoined by Lebowa Plats (Anglo Platinum/Anooraq)

§ Merensky, UG2 reefs traced historically by Anglo Platinum

§ Strike length of 2 500 m

§ Aerial dip extent: 2 500 m

§ UG2 grade: 4.57 – 7.50 g/t

§ Mean exploration target: up to 1.95 MOz 4E PGE, attributable to Platfields (Merensky and UG2)

Tygerpoort

Leeuwkop

14

Leeuwkop Project: phased exploration

§ Aeromagnetics, radiometrics

§ Field mapping

§ Two-phase drilling programme

§ 30 months

§ 29 holes

§ R24 million

§ Phase 1

§ 18 months

§ 7 holes

§ R6.6 million

15

Grootfonteinberg Project: location

§ Total of 301.1 hectares

§ Mean exploration target: up to 3.43 MOz Au

§ Target grade of 1.42 – 37.9 g/t Au

§ Possible life of mine 15 – 20 years

16

Grootfonteinberg Project: planned exploration

§ Surface mapping

§ Aeromagnetic, radiometric survey to delineate structure, confirm layering

§ Two-phased drilling programme

§ 30 months

§ 13 holes

§ R17.1 million

§ Phase 1

§ 18 months

§ 3 holes

§ R5.2 million

17

Work programme

2008 2009 2010 2011 2012 2013 2014 2015

Berg

Leeuwkop

Grootfonteinberg

Define resourcesPrefeasibilityand resource

upgradeFeasibility

Ramp up to full scale mine production

Full scale mine production

Drilling (12 mths)

Drilling (12 mths)Drilling

EMP

Drilling (18 mths)Drilling (12 mths)

EMP

Drilling (12 mths)

EMP

Drilling (18 mths)

Mining right application

Mining right application

Mining right application

18

Exploration drilling budget

project Phase 1 Phase 2 Phase 3 Total

Berg 19.1 34.5 230.1 283.7

Leeuwkop 6.6 17.5 - 24.1

Grootfonteinberg 5.2 11.9 - 17.1

Total 324.9

19

Capital raising

Rm

Founding shareholders and seed capital 100

JSE listing – first phase 200

JSE listing – second phase 250

Total 550

§ JSE Main Board listing planned§ last quarter of 2008, subject to prevailing market conditions,

regulatory and other approvals

20

Investment case

§ Precious metals focus – PGMs, Au

§ Robust markets – PGMs, Au

§ healthy supply/demand balance

§ Development, mining objectives

§ ‘not just another exploration play’

§ Experienced board

§ strong empowerment profile

§ Highly prospective exploration assets

21

Investment case, cont’d

§ Excellent prospects for growth

§ consolidations, acquisitions

§ Disciplined, phased exploration planning

§ Conservative capital raising

§ geared to current climate

§ Assessable risk parameters

§ certified drilling results on known PGM, Au deposits

22

Objective

§ To become:§ the pre-eminent South African emerging precious metals explorer

and miner§ the precious metals investment of choice

23

Board of Directors

Bongani Mbindwane,Chief Executive OfficerFormer Chairman, Seran Mining Engineering; co-founder, Ubambo Investments; current: Property Tender Board Member, Provincial Property Committee Member, Western Cape Provincial Government; Environmental Consultant, ECS and City of Cape Town

Neville Cornish Non-executive Director

Civil engineer; more than 40 years’ mining, property development and engineering experience; highly

successful entrepreneur, business manager

Joshua Hattingh Operations DirectorCo-owner, Rock and Stock Investments (clients include Anglo Platinum, Impala Platinum, Aquarius Platinum, Lonmin, Snowden Mining)

Sheldon ErasmusNon-executive Director

MD of EFS, a specialist financial services company; serves on various boards; represents some of

Platfields’ BEE partners

Annelise CilliersFinancial DirectorFormer audit partner, director of PKF; former financial director of Venture, Leisure and Commercial Trailers Limited; previously involved in compilation of Platfields’ prospectus in 2003

Roy TravissNon-executive Director

Geologist; former Technical Director and Managing Directorof Zaaiplaats Mining;

former director of Zimco Industries

James MotlatsiNon-executive ChairmanChief Executive Officer, TEBA Limited; Deputy Chairman, AngloGold Ashanti Limited; former President, National Union of Mineworkers and Southern African Miners Federation; former Vice-President, Miners International Federation; Cosatu Executive Committee member;Nelson Mandela Children’s Fund trustee

Sibongile TwalaNon-executive Director

Previously held senior management positions in Univilever, Fedics, PAG and Premier Foods; has

participated in several empowerment transactions, including involvement in community

development projects

24

Advisors

Corporate advisor and sponsor PricewaterhouseCoopers

Competent Person Rock & Stock Investments

Independent technical advisor Golder Associates

Reporting accountants and auditors Grant Thornton

Attorneys Bowman Gilfillan Inc

Attorneys, corporate advisor in Canada Macleod Dixon

Share Registrar Computershare Investor Services

Precious metals exploration and mining

Bongani Mbindwane, CEO8th BAC Platinum Day

October 2008