31 August 2012
The Manager
Company Announcements
Australian Securities Exchange
Exchange Plaza
2 The Esplanade
PERTH WA 6000

Via e-lodgement COMPANY UPDATE

Nkwe Platinum Limited ("Nkwe" or the "Company") provides the following corporate update in respect of the security lending agreement involving Genorah Resources and its majority shareholding in the Company.
Nkwe, Genorah Resources and Gleneagles Securities have entered into a binding terms sheet which provides, amongst other things, for a 45 day stand still on the sale of any of Genorah's shares in the Company. Further Genorah have advised Gleneagles that they have secured financing in South Africa to pay back the outstanding loan (circa $2.8m) in the next 10-20 days irrespective of the stand still in place.
More importantly the terms sheet sets down the parameters for a transaction moving forward subject to various conditions precedent being satisfied over the next 4-6 weeks. The transaction would see a major South African based entity acquire a significant stake of Genorah's shares in Nkwe at $0.20 per share. Nkwe would then, subject to all necessary approvals, look to acquire for equity the remaining 26% BEE interest in its Projects as part of a dual listing on the Johannesburg Stock Exchange.
The Company will be in a position to fully disclose all details of the proposed transaction once key aspects have been finalised. Moving forward the Company will, should the transaction be completed, have new corporate and operational management and seek to commence development of the Garatau PGM Project.
Shareholders need to be aware that this transaction is subject to a number of condition precedents and there is no guarantee of its completion at this point in time.

Yours sincerely

Peter Landau Executive Director For further information please contact:

Peter Landau Executive Director Tel: +61 8 9488 5220
Em: plandau@nkweplatinum.com

AUSTRALIAN OFFICE

Ground Floor, 1 Havelock Street

West Perth WA 6005

Australia

PO Box 684

West Perth WA 6872

Australia

Tel: +61 (0)8 9488 5220

Fax: +61 (0)8 9324 2400

NKWE PLATINUM LIMITED ARBN 105 979 646

REGISTERED OFFICE

Clarendon House

2 Church Street

Hamilton HM11

PO Box HM666

Hamilton HMCX BERMUDA

NKWE PLATINUM LIMITED

Bermuda Regn Number 32747

Web: www.nkweplatinum.com

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