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Platinum Australia

ASX Mid to Small Cap

Conference

March 2012

ACN 093 417 942

PLA

www.platinumaus.com

1


Platinum Australia

Smokey Hills (70% PLA, ~85% Economic Interest)

Established mine with production capacity of 90,000 ozs per annum at a Cash Margin

of US$400/oz with a five year life

Kalplats (PLA earning up to 49%)

DFS completed - Total Resource 6.7 Mozs, open pit production of 120,000 ozs pa at a

Cash Margin of US$500/oz with an initial 10 year life

Resources drilled to only ~200 metres. Significant potential to expand resource along

strike, at depth and due to large regional presence (~70 km strike length)

Rooderand (PLA earning 70%)

PFS completed - Total Resource 4.2 Moz, open pit production of 115,000 ozs pa at a

Cash Margin of US$500/oz with 10 year life followed by ~7 year underground

Panton (PLA 100%)

Total Resource 2.4 Moz, proposed open pit & underground operation with production

of 90,000 ozs pa

PLA www.platinumaus.com 3


Platinum Australia

Total Resources of 14 Mozs 4E PGM (PLA attributable 9.7 Mozs)

Production Capacity

Current – 90,000 ozs 4E pa

Potential – +300,000 ozs 4E pa within three years (Smokey

Hills, Rooderand and Kalplats (PLA attributable ~220,00 ozs 4E)

Cash Margin - +US$400/oz 4E (current prices)

Panton PGM Project

Large strategic asset containing 2.4 Mozs PGM

Established Management Team in place in South Africa

PLA www.platinumaus.com 4


Market – Key Issues

Supply

Primary supply at same level as 2001

South Africa – Strong Rand, Power, Inflation,

Depth, Grade, Skills shortages, Labour unrest

Nationalisation – Implementation in

Zimbabwe, South Africa?

New Mines – Capital, Lead Time, Country

Risk, Power

Depletion of Russian stockpile of palladium

(+1 Moz/year over last 10-15 years)

PLA www.platinumaus.com 5


Market – Key Issues

Demand

Global Economic Recovery

Autocatalysts – production, diesel/petrol,

legislation

Jewellery

China – 25% of Platinum, 20% of Palladium,

30% growth in last 5 years

2010 Demand still 10% below peak

PLA www.platinumaus.com 6


Market – Prices

PLA www.platinumaus.com 7


ZAR Basket Price

Ave US$ /oz Platinum Price

Basket Prices

12,000

10,000

ZAR Basket Price

Rooderand PFS

ZAR Basket Price

Smokey Hills ZAR/oz

Rooderand ZAR/oz

Kalplats ZAR/oz

8,000

Kalplats DFS

ZAR Basket Price

6,000

1800

4,000

Ave US$ Platinum Price

1600

2,000

1400

-

Mar April May June July Aug Sept Oct Nov Dec Jan Feb

PLA www.platinumaus.com 8


Platinum Australia

Exciting Portfolio of Advanced PGM Projects in

South Africa and Australia

Smokey Hills – Shallow underground mine

building up to full production in 2012

Kalplats – DFS completed on development

of 1.5 Mtpa Open Pit Operation

Rooderand – PFS completed on

development of 1.2 Mtpa Open Pit and

Underground Operation

Panton – Review Study underway for

600,000 tpa Open Pit and Underground

Operation

PLA www.platinumaus.com 9


Platinum Australia

Executive Committee

John Lewins

Managing Director

(Perth)

David Neill

Chief Financial Officer

(Perth)

Gavin Ferguson

Chief Operating Officer

(Johannesburg)

Gordon Ramsay

GM – Projects &

Metallurgy

(Johannesburg)

John Dawson

GM - Finance

(Johannesburg)

Richard Wallis

GM – Mining &

Technical Services

(Johannesburg)

Steve Hunns

GM – Exploration

(Johannesburg)

McMillan Motimele

Manager –

Stakeholder Relations

(Johannesburg)

William Smart

GM – Smokey Hills Mine

(Smokey Hills)

PLA www.platinumaus.com 10


Platinum Australia

PLA www.platinumaus.com 11


Smokey Hills Platinum Mine

Updated Resource

Resource Tonnes Grade Content

Million Tonnes 4E g/t ‘000’s 4E Ozs

Snowden – DFS July 2006

Measured 3.6 5.59 650

Indicated 1.9 5.61 344

Total 5.5 5.60 994

Geologix – July 2011

Measured 2.85 5.61 516

Indicated 1.68 5.64 306

Total 4.53 5.63 822

gg

gg

gg

gg

g

PLA www.platinumaus.com 12


Smokey Hills Platinum Mine

Processing

Standard MF2 design for treating UG2 Reef

Planned throughput 60,000 tpm

Planned production 90,000 ozs 4E per annum in concentrate

Shipped to IRS in Rustenburg, South Africa for smelting & refining

Power

Eskom power connected (8 MVA with up to 12.5 MVA for future)

8 MVA Diesel Generating Capacity Installed

Water

Lebalelo Water Scheme – 60,000 m3 per month 20 km pipeline

PLA www.platinumaus.com 13


Smokey Hills Platinum Mine

Underground Mine

Moved from contract mining to Owner Operator in January 2012

Ramp up in underground production scheduled to achieve design in

June Quarter 2012

Access via six adits developed on reef - mechanised using jumbos,

LHD’s and trucks

Conventional narrow reef mining, hand held production drilling,

winch cleaning, tramming to surface by LHD and truck

Average Design Head Grade over life of mine ~4.8 g/t 4E PGM

PLA www.platinumaus.com 14


Smokey Hills Platinum Mine

Underground Mine Performance in 2012

Contractor

Owner Operator

Stope Broken m 2

Stope Broken m 2

350.0

350.0

300.0

300.0

250.0

250.0

200.0

150.0

m2

Linear (m2)

200.0

150.0

m2

Linear (m2)

100.0

100.0

50.0

50.0

0.0

1 2 3 4 5 6 7 8 9 10

0.0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

PLA www.platinumaus.com 15


Smokey Hills Platinum Mine

Planned Production

5.5 years at average of ~90,000 ozs 4E per annum (2012 Planned 70,000

ozs 4E)

Estimated Average LOM Cash Costs US$850/oz 4E

Average Basket Price in 2011* US$1,300/oz 4E

Margin US$450/oz

* Platinum US$1730/oz; Palladium US$730/oz; Rhodium US$2,000/oz; Gold US$1,570/oz;

PLA www.platinumaus.com 16


Smokey Hills Platinum Mine

Local Community Mine Ownership – 9%

Employment – +1,000 at full production

Social and Labour Plan (SLP) commitments of ZAR14 million including:

Sealing of ~2.5 km of local district road (underway)

Construction of classrooms for local schools (scheduled for 2011/12)

Construction of new soccer pitch and stands (scheduled for 2011/12)

Water infrastructure (awaiting completion of work by Government)

Training & Development, scholarships and bursaries (ongoing)

PLA www.platinumaus.com 17


Kalahari Platinum Project

JV with ARMplatinum – PLA earning up to

49%

330 km West of Johannesburg

Stella Layered Intrusive (“SLI”) within the

Kraaipan Greenstone Belt

Multiple PGM bearing “magnetite” reefs

Large Regional Presence

PLA www.platinumaus.com 18


Kalahari Platinum Project

Definitive Feasibility Study

DFS Results Base Case November 2011

ZAR US$ ZAR US$

Capital Cost Million 1,145 150 1,145 140

Throughput t/annum 1,500,000 1,500,000

Grade g/t 3E 2.96 (Ave 3.3 first five years) 2.96 (Ave 3.3 first five years)

Site Opex Per ton 214 28.2 214 26

Per oz 3,155 415 3,155 385

Basket Price Per oz 7,606 1,001 9,430 1,150

NPV 10 Million 530 70 1,347 164

Cash Flow Million 1,598 210 3,205 391

IRR % 24.4 24.4 41 41

Base Case – Platinum US$1500/oz; Palladium US$500/oz; Gold US$1100/oz; ZAR7.6:US$1

November 2011 – Platinum US$1610/oz; Palladium US$635/oz; Gold US$1725/oz; ZAR8.2:US$1

PLA www.platinumaus.com 19


Kalahari Platinum Project

Capital cost ~ZAR1.1 Billion (~US$1,200/annual oz 3E

production)

Production ~120,000 ozs 3E per annum (first five years)

Site operating costs ~US$400/oz 3E

Total cost including smelting and refining - ~US$600/oz 3E (at

Base Case Metal Prices and Exchange Rate)

Initial 10 year life based on current Measured and Indicated

Resources (~50% of current resource)

Potential for major extension of life with further drilling

Power available from Eskom from 2014

Mining of bulk sample from existing trial pit and pilot plant

testwork planned for 2012

PLA www.platinumaus.com 20


Rooderand Platinum Project

JV with Atla Mining Resources – PLA

30%, earning 70%

UG2, Merensky and Pseudo/Tarentaal

Reefs

Pre Feasibility Study completed April

2011

Definitive Feasibility Study drilling

program completed July 2011

Updated Resource due March 2012

DFS due for completion First half 2012

Over 350 diamond drill holes

completed since November 2009

PLA www.platinumaus.com 21


Rooderand Platinum Project

Pre Feasibility Study

PFS Results Base Case November 2011

ZAR US$ ZAR US$

Capital Cost Million 968 129 968 118

Throughput t/annum 1,200,000 1,200,000

Grade g/t 4E 3.46 (Open Pit) 4.39 (u/ground) 3.46 (Open Pit) 4.39 (u/ground)

Site Opex Per ton 605 80 605 74

Per oz 5,025 670 5,025 613

Basket Price Per oz 11,812 1,575 11,013 1,343

NPV 10 Million 1,616 215 1,598 195

Cash Flow Million 4,485 598 4,362 532

IRR % 40 40 41 41

Base Case – Platinum US$1,800/oz; Palladium US$800/oz; Rhodium US$2,400; Gold US$1,330/oz; ZAR7.5:US$1

November 2011 – Platinum US$1,610/oz; Palladium US$635/oz; Rhodium US$1,660/oz; Gold US$1,725/oz; ZAR8.2:US$1

PLA www.platinumaus.com 22


Rooderand Platinum Project

Pre Feasibility Study

Resource 28.8 Mt @ 4.55 g/t for

4.2 Moz 4E PGM

Outcrop to depth of ~500 m

Open Pit 9.6 Mt @ 3.49 g/t to

Max depth ~180 metres

Underground focus on UG2 - 7.3

Mt @ 4.39 g/t 4E over ~1.2 m

stope width

Simple MF1/MF2 Flowsheet

Eskom power available

immediately

PLA www.platinumaus.com 23


Panton PGM Project

Located in the Kimberley region of Western

Australia

Resource of 14.3 Mt @ 5.2 g/t PGM, 0.27% Ni

& 0.08% Cu

Open Pit followed by Underground Mining

Use of “Panton Process” to achieve 75 – 80%

recovery into high grade concentrate ~2,000

g/t PGM & 50% Ni + Cu

Potential production up to 90,000 ozs PGM per

annum based on throughput of 600,000 tpa

Ownership – 100% Platinum Australia

PLA www.platinumaus.com 24


Panton PGM Project

Metal Prices have increased between 250%

and 500% since completion of BFS

Technical and Commercial Project review due

for completion December 2011

Mining update TetraTech, Plant update DRA

Pacific

Initial indications – Open Pit increased in size

by up to 50% to 1.9 million tonnes ore

providing 3 year life ahead of u/ground mine

Strategic Review of development options

PLA www.platinumaus.com 25


Platinum Australia

Project Status Resource Target

Production

Smokey

Hills

Kalahari

Platinum

Rooderand

Platinum

Panton

Project

Total

Product

DFS

PFS

Review

of DFS

0.8 Moz 4E PGM

5.6 g/t

6.7 Moz 3E PGM

High Grade 3.2

Moz @ 3.1 g/t

4.2 Moz 4E PGM

4.55 g/t

2.4 Moz PGM

5.2 g/t

14.1 Moz

PLA ~9.7 Moz

Comments

90,000 oz/a In build up

U/ground to ~200m

PLA 70% (85% economic)

~120,000 oz/a Open Pit to ~200m then

u/ground to ?

PLA 49% (earning)

~115,000 oz/a Open Pit to ~150m then

u/ground to ~500m

PLA 70% (earning)

~90,000 oz/a Open pit to 120m then

u/ground to ~600m

PLA 100%

~415,000 oz/a

PLA ~310,000 oz/a

Open Pit or Shallow

Underground

PLA www.platinumaus.com 26


Platinum Australia

Projects

Project Resource Target

Production

Est. Opex LOM

US$/oz 4E

Initial Capex

US$/annual oz 4E

Smokey Hills

Kalahari

Rooderand

Panton

0.8 Moz 4E PGM

5 g/t

6.7 Moz 3E PGM

incl 3.2 Moz @ 3.1 g/t

4.2 Moz 4E PGM

4.55 g/t

2.4 Moz PGM

5.2 g/t

90,000 oz/a US$850 US$500

~120,000 oz/a ~US$600 ~US$1,200

~115,000 oz/a ~US$650 ~US$1,000

~90,000 oz/a ~US$1,000 ~US$1,800

Total

14.1Moz

Total

~415,000 oz/a

Industry

~US$1,300

Industry

+US$3,000

PLA www.platinumaus.com 27


Platinum Australia

Smokey Hills Platinum Mine

Expected move to positive cash flow in June Qrt 2012

LOM Expected Annual Production – 90,000 ozs 4E (Planned production for 2012 –

70,000 ozs 4E)

LOM Cash Cost US$850/oz, Basket (ave 2011)US$1,300/oz, Margin US$450/oz

Kalahari Platinum Project

Commence development in late 2013, with first production early 2015

Capital cost ~ZAR1.1 Billion

Annual Production 120,000 ozs @ US$600/oz 3E (est. Cash Cost)

Rooderand Platinum Project

Commence development in late 2012, with first production early 2014

Capital cost ~ZAR1 Billion

Annual Production 115,000 ozs @ US$650-700/oz 4E (est. Cash Costs)

Panton Project

Project Review to be completed in first Quarter 2012

Strategic Review first Quarter 2012

PLA www.platinumaus.com 28


Deposit

Crater

Crux

Orion

Vela

Sirius

Mira

Serpens North

Kalahari Platinum Project Resource

Total Resource Main Reef Resource High Grade Resource

Tonnes Grade Ozs Tonnes Grade Ozs Tonnes Grade Ozs

Measured 1,337,500 1.89 81,130 695,000 2.52 56,270 459,000 3.50 51,520

Indicated 6,215,500 1.85 370,500 2,414,000 2.37 184,230 2,640,000 2.99 254,000

Inferred 18,663,000 2.11 1,267,900 8,434,000 2.68 726,240 8,540,000 3.26 896,070

Total 26,216,000 2.04 1,719,530 11,543,000 2.60 966,740 11,639,000 3.21 1,201,590

Measured 7,698,000 1.55 383,370 3,360,000 2.04 220,320 1,716,000 2.96 163,430

Indicated 10,882,000 1.40 489,880 5,239,000 1.62 272,580 1,905,000 2.55 156,030

Inferred 9,458,000 1.35 410,190 4,348,000 1.53 213,860 1,470,000 2.47 116,720

Total 28,038,000 1.42 1,283,440 12,947,000 1.70 706,760 5,091,000 2.66 436,180

Measured 4,201,000 1.57 211,720 1,983,000 2.15 136,960 995,000 3.29 105,400

Indicated 4,011,000 1.56 202,450 1,841,000 2.15 127,010 856,000 3.42 94,130

Inferred 3,644,000 1.61 189,040 1,773,000 2.14 121,740 869,000 3.28 91,600

Total 11,856,000 1.58 603,210 5,597,000 2.14 385,710 2,720,000 3.33 291,130

Indicated 21,790,000 1.36 949,910 8,474,000 2.09 570,770 4,579,000 3.11 458,090

Inferred 14,872,000 1.32 629,770 6,329,000 2.07 420,800 3,591,000 3.02 348,350

Total 36,662,000 1.34 1,579,680 14,803,000 2.09 991,570 8,170,000 3.07 806,440

Measured 802,000 1.52 39,070 378,000 2.13 25,810 185,000 3.32 19,740

Indicated 5,305,000 1.49 254,540 2,086,000 2.13 142,960 1,116,000 3.12 111,770

Inferred 3,377,000 1.27 137,880 639,000 2.03 41,620 270,000 3.40 29,510

Total 9,484,000 1.42 431,490 3,103,000 2.11 210,390 1,571,000 3.19 161,020

Indicated 2,708,000 1.42 123,720 931,000 2.31 69,020 461,000 3.55 52,510

Inferred 3,925,000 1.44 181,090 1,315,000 2.49 105,310 731,000 3.60 84,750

Total 6,633,000 1.43 304,810 2,246,000 2.41 174,330 1,192,000 3.58 137,260

Indicated 4,962,000 1.41 224,620 2,057,000 1.95 129,180 861,000 3.15 87,180

Inferred 2,741,000 1.47 129,330 1,142,000 1.90 69,630 408,000 3.31 43,460

Total 7,703,000 1.43 353,950 3,199,000 1.93 198,810 1,269,000 3.20 130,640

Serpens South Inferred 10,762,000 1.34 462,020 5,890,000 1.71 324,230 848,000 5.10 138,980

Total 137,354,000 1.53 6,738,130 59,328,000 2.08 3,958,540 32,500,000 3.16 3,303,240

PLA www.platinumaus.com 29


Rooderand Platinum Project Resource

Mineral Resource

Category

Reef Type

Tonnes

(million)

Grade

4E g/t

4E Kg's

('000)

4E

Moz

Pt

(g/t)

Pd

(g/t)

Rh

(g/t)

Au

(g/t)

Cu

(ppm)

Ni

(ppm)

Meas + Ind + Inf Merensky 2.81 10.93 30.75 0.99 7.32 2.65 0.58 0.37 1418 2844

Meas + Ind + Inf Upper Pseudo 3.85 3.11 11.97 0.38 2.31 0.43 0.22 0.15 548 1427

Meas + Ind + Inf Lower Pseudo 8.64 1.87 16.19 0.52 1.10 0.58 0.08 0.10 229 1443

Meas + Ind + Inf UG2 13.52 5.35 72.34 2.33 3.13 1.54 0.65 0.02 18 1217

Measured TOTAL 2.62 4.89 12.84 0.41 2.93 1.35 0.55 0.05 108 1320

Indicated TOTAL 6.76 5.30 35.81 1.15 3.18 1.50 0.54 0.07 189 1415

Meas + Indicated TOTAL 9.38 5.19 48.65 1.56 3.11 1.46 0.54 0.07 167 1388

Inferred TOTAL 19.45 4.25 82.60 2.66 2.68 1.10 0.36 0.11 348 1511

TOTAL TOTAL 28.83 4.55 131.25 4.22 2.82 1.21 0.42 0.10 289 1471

PLA www.platinumaus.com 30


Panton PGM Project Resource

Reef Type

Mineral

Resource

Category

Tonnes

(million)

Grade

*6E g/t

*6E

Moz

Pt

(g/t)

Pd

(g/t)

Au

(g/t)

Cu

(ppm)

Ni

(ppm)

Top Reef Measured 4.40 6.01 0.85 2.46 2.83 0.42 0.28 0.08

Indicated 4.13 6.65 0.88 2.73 3.21 0.38 0.31 0.09

Inferred 1.56 5.11 0.26 2.10 2.35 0.38 0.36 0.13

Top Reef TOTAL 10.08 6.13 2.0 2.51 2.91 0.40 0.30 0.09

Middle Reef Measured 2.13 2.86 0.19 1.36 1.09 0.10 0.18 0.03

Indicated 1.5 3.28 0.16 1.56 1.28 0.10 0.19 0.04

Inferred 0.6 2.38 0.05 1.22 1.07 0.01 0.19 0.05

Middle Reef TOTAL 4.22 2.99 0.4 1.41 1.15 0.10 0.18 0.03

TOTAL TOTAL 14.32 5.20 2.4 2.19 2.39 0.31 0.27 0.08

*6E – Platinum, Palladium, Rhodium, Ruthenium, Iridium & Gold

PLA www.platinumaus.com 31


Platinum Australia

“This presentation and information contained in it is being provided to shareholders and investors for information purposes

only. Shareholders and investors should undertake their own evaluation of this information and otherwise contact their

professional advisers in the event they wish to buy or sell shares. To the extent the information contains any projections the

Company has provided these projections based upon the information that has been provided to the Company. The

Company does not make any representations as to the accuracy or otherwise of that third party information."

Qualification Statement

We confirm that exploration results contained in this report are based on information compiled by PLA Exploration Staff and reviewed by Peter Allchurch, who is a Fellow of the Australian

Institute of Mining and Metallurgy. Peter Allchurch is non-executive Chairman of Platinum Australia Limited. Peter Allchurch has more than 5 years 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 „Australasian Code

for Reporting of Exploration Results, Mineral Resources and Ore Reserves‟. Peter Allchurch consents to the inclusion in the report of the matters based on his information in the form and

context in which it appears.

The information in this report that relates to the Crater ,Vela, Orion, Sirius, Mira, Serpens North and Crux Mineral Resource is based on a resources estimates compiled by Mr. Ken Lomberg who

was a full-time employee of Coffey Mining and is a Member of the South African Council for Natural Scientific Professions. Mr. Lomberg has more than 15 years experience which is relevant to

the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking and qualifies as a Competent Person as defined in the 2004 edition of the

„Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves‟. Mr Lomberg consents to the inclusion in the report of the matters based on his information in the

form and context in which it appears.

The information in this report that relates to the Rooderand Mineral Resource is based on a resources estimate compiled by Mr. Andre Deiss who is a Principal of ExplorMine Consultants and is

a Member of the South African Council for Natural Scientific Professions (member no 400007/97). Mr. Deiss has more than 7 years experience which is relevant to the style of mineralisation and

type of deposit under consideration and 15 years experience in the activity which he is undertaking and qualifies as a Competent Person as defined in the 2004 edition of the „Australasian

Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves‟. Mr Deiss consents to the inclusion in the report of the matters based on his information in the form and

context in which they appears.

The information in this report that relates to the Smokey Hills Mineral Resource is based on a resources estimate compiled by Mr. John Murgatroyd who is a Director of Deswik Mining

Consultants (Pty) Ltd and is a Member or Fellow of “Recognised Overseas Professional Organisation”. Mr. Murgatroyd has more than 5 years experience which is relevant to the style of

mineralisation and type of deposit under consideration and in the activity which he is undertaking and qualifies as a Competent Person as defined in the 2004 edition of the „Australasian

Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves‟. Mr Murgatroyd consents to the inclusion in the report of the matters based on his information in the form and

context in which they appears.

The information in this report that relates to the Panton Mineral Resource is based on a resources estimate compiled by Mr. Ted Copeland who is a Director of Cube Consulting Pty Ltd. and is

a Member of the Australian Institute of Mining and Metallurgy. Mr. Copeland has more than 10 years experience which is relevant to the style of mineralisation and type of deposit under

consideration and in the activity which he is undertaking and qualifies as a Competent Person as defined in the 2004 edition of the „Australasian Code for Reporting of Exploration Results,

Mineral Resources and Ore Reserves‟. Mr Copeland consents to the inclusion in the report of the matters based on his information in the form and context in which they appears.

PLA www.platinumaus.com 32

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