🕐19.01.11 - 10:54 Uhr

Release: Villages drilling programme on Lesego intersects Merensky Reef at signi
ficantly shallower depths



Press Release
19 January 2011
Villages drilling programme on the Lesego Platinum Project intersects Merensky Reef at significantly shallower depths
- Potential to significantly realise time and cost savings once in production Village Main Reef today announces that initial results of a shallow exploration drilling programme on the Lesego Platinum Project, have identified the potential for shallower resource ounces.

Initiated to investigate and delineate shallow Platinum Group Elements resources on the project, the drilling programme identified the first reef intersection of a well mineralised Merensky Reef over a thickness of 1.48m at a depth of 943m below surface.


The reef thickness discovered is comparable to those identified in both the independent Competent Persons Report and the Scoping Study report that was completed in September 2010.


Bernard Swanepoel, CEO of Village commented, "The discovery of a shallower mineralised reef at depths of less than 1000m elevates this project from a good platinum project to a potentially great one and will realise significant time and cost savings during the project development and production phase.

The shallower reef intersection has given the project more confidence and is a perfect complement to the excellent widths of 1.47m on the Merensky Reef, grades of 6.43g/t and base metal credits that have already been identified in the Merensky and UG2 reefs."
Further drilling will continue in the demarcated area while awaiting the assay results for these initial reef intersections.

Village will release an updated resource statement once assay results have been received and analysed.


ENDS
Contacts: Louise Brugman
Please note that Bernard and Dorian are on a road show in North America and so will not be available for further interviews today
Logo_sharper02 media & investor relations
louise brugman managing director T: +27 (0) 11 787 3015 C: +27 (0) 83 504 1186 E: www.vestor.co.za
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