Nkwe Platinum Limited (ASX – NKP)

8th BAC Platinum Day

Zurich - Dubai - October 6 - October 12

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Disclaimer

Create leading platinum producer which mines, refines and markets platinum group metals

Corporate Summary

•  Listed on the Australian Stock Exchange : NKP),

•  All Projects in Bushveld, South Africa

•  Regionally diversified across East & West Bushveld Complex

•  Critical mass to become Vertically Integrated PGM Producer

•  Xstrata option fully funds BFS and potentially, development

Nkwe Platinum Ltd (NKP)

Garatau Project Tubatse Project

Corporate Structure

74% * 74%

•  Option to acquire 74% based on

1.  59% from Genorah

2.  15% from IGC

Board and Executive Management Share performance and volume (12 months) Maredi Mphahlele – Managing Director Peter Landau - Director Tony Weber – Technical Director Mxoleli Nkuhlu – Legal Director Sharif Pandor – Non Executive Director Andre van der Merwe – Projects Manager Shammy Luvhengo – Bus. Dev. & Investor Relations Staff Sithole – Corporate Affairs Director

Shareholders Capital Structure Genorah Resources1 RAB Capital plc Credit Suisse Hawkesbridge Private Equity Amari Holdings New City Investment Managers Other

Current Corporate Snapshot

35.7% 6.75%* 4.8% 1.9% 1.2% 1.2% 47.9%

Current Share Price $ 0.41 Shares outstanding m 187.75 Market Capitalisation $m 76.98 Cash $m 7.71 Dewildt payment* $m 12.00 Total Cash 19.71

Existing Infrastructure – Well Serviced

  Power

  Roads   Security

  Communications

The Projects

Waterval

Union

N

RUSTENBURG

Messina

PRETORIA

Marikana

Kroondal

Implats Rustenburg

Amandelbult Marula

Lebowa

Modikwa

PPL

BRPM

Crocodile River

Northam

POLOKWANE

Western Limb Bushveld Eastern Limb Bushveld

Twickenham

Lonmin

Smelters

GARATAU EERSTE GELUK

TINDERBOX - KLIPRIVIER

DE WILDT

ROODERAND - RUIGHOEK

Everest South

Two Rivers

Eland

JOHANNESBURG

MOKOPANE

Garatau Project

Tubatse Project

Flagship Projects

Resource Tonnage

Channel Width

Grade (3PGE +Au g/t)

3PGE + Au (Moz)

Merensky 129,581 2.49 2.84 10.057

UG2* 52,333 0.96 5.58 7.980

Total 181,914 18.037

* 2.276 Moz under indicated category

  Xstrata option payment of US$10M

  Xstrata has option to acquire a collective 50% participating interest in the Properties from Nkwe and Genorah. Ultimate transaction is likely to result in Nkwe and Xstrata each holding a 50% participating interest with Genorah holding approximately 65% of Nkwe’s issued capital (fully diluted).

  The Option is exercisable at Xstrata’s election following the completion of the BFS scheduled for completion in Q4 2009/ Q1 2010

  If the Option is exercised, Xstrata will fund the total development cost of the Properties with the construction of 2 underground mines (both reefs) and associated concentrator facilities (approx US$1,2Bn).

  JV partners will undertake feasibility study for the development of downstream processing capability to develop a vertically integrated mine to market business.

  The proposed 50:50 JV will include any contiguous properties currently (or in the future) controlled by Nkwe or Xstrata.

Xstrata Joint Venture The Deal – Key Points

8% 5%

Mining - Concentrate

NKP – 50% XSA – 50%

Smelting Refining

NKP – 50% XSA – 50%

The Vision

The Outcome for Nkwe De-Risks Project and Value Accretive

  Xstrata JV provides significant project development advantages, particularly in relation to stapled financial strength and capacity

  Provides Nkwe with exposure to Xstrata’s: –  extensive expertise in PGM’s and other alloys –  proven track record in complex project development and production

  Large scale capital expenditure commitments will underwrite the assets value   Significant targeted production profile of ~1Moz PGM per annum = Major PGM producer   Potential for Nkwe to emerge as Xstrata’s “default” BEE partner in platinum

Selected recent and near completion platinum projects

Activity Planned Date

Finalisation Strategic Partner November 2008

Listing on both JSE and AIM** 4th Quarter 2008

Exercise of the 59% option Process underway

Pre-feasibility / Mining Options Study 4th Quarter 2008/ 1st Quarter 2009

Bankable Feasibility 4th Quarter 2009/ 1st Quarter 2010

Mine Development 2010

** Financial Institutions already mandated for this

Timetable

•  Investment Case

•  Nkwe has good quality assets

•  Experienced management and directors

•  Strong strategic partner in Xstrata

•  Fully funded until BFS

•  We definitely offer great value for shareholders

Conclusion

•  Strategic Initiatives

•  Focus on delivering a BFS

•  Finalise the agreements with XStrata

•  Intensify our drilling programme both in Garatau and Tubatse projects

•  Ensure we keep our strong management and skilled personnel

•  Leverage on the Xstrata relationship for growth and BFS delivery

•  Initiate the roll out of our CSI strategy

Contacts

Name: Shammy Luvhengo Title: Exec GM: Business Development and Investor

Relations Tel No: +27 84 580 9868 or +27 11 445 2161 E-mail: sluvhengo@nkweplatinum.co.za

Name: Maredi Mphalele Title: Managing Director Tel No: +27 83 346 1342 or +27 11 445 2161 E-mail: mmphahlele@nkweplatinum.co.za

Name: Peter Landau Title: Director Tel No: +44 774 757 7815 or +61 407 751 115 E-mail: plandau@nkweplatinum.com

Website: www.nkweplatinum.com

SOUTH AFRICA Tel: +27 (0) 11 445 2161 Fax: +27 (0) 11 445 2166

P.O. Box 11585 Vorna Valley Midrand 1686 Republic of South Africa

IMS PARK No. 6 Eastern Services Road Eastgate Ext 3 Sandton Johannesburg Republic of South Africa

LONDON Tel: +44 (0) 207 389 8190

Contacts