Press Release
1 March 2011
Merensky Reef discovered at a depth of only 590m at Village�s Lesego Platinum Project
- Increasing potential for a shallow to medium depth ore body
Village announces that a second borehole, LES024 in the shallow drilling exploration program, drilled up dip from the first shallow drilling program borehole, LES022, on the Lesego Platinum project, has intersected Merensky Reef at 590m below surface.

This second borehole is positioned a further 250m closer to the Phosiri Dome and has intersected a 45� dipping Merensky Reef with visible sulphide mineralisation over a thickness of about 50cm. Continued drilling of this borehole is expected to intersect UG2 Chromitite.
The first borehole from the shallow drilling exploration programme, LES022, recorded an intersection of Merensky with a width of 1.46m at 943m below surface.

The UG2 Chromitite was intersected at a depth of 1,232m below surface with an apparent thickness of 70cm and a dip of 30�
Chief Executive Officer of Village, Bernard Swanepoel noted, �Discovering Merensky and UG2 at these shallower depths is a game changer and enhances the potential value of this project significantly.

Further confirmatory drilling along strike could potentially position the Lesego Project as a shallow to medium depth high grade ore body as opposed to the previous generally accepted perception of it being a deep ore body�.
The discoveries of these two shallower reef intersections has extended the possible Merensky Reef resource up-dip, closer to the Phosiri Dome to depths of less than 600m from the original resource boundary, which was defined at 1200m.

The results are in line with the company�s geological model, which indicates that as drilling approaches the Phosiri Dome, shallower resources are expected as the dome uplift is responsible for bringing both the Merensky Reef and the UG2 Chromitite closer to the surface Assay results for these shallow reef intersections have not yet been received.

Further drilling will continue along strike in order to define a shallower resource.
Village intends to release an updated resource statement once this drilling program is completed and all assay results have been received and analysed.


The information in this statement relating to Mineral Resources and geology has not been reviewed by an independent Competent Person in terms of the SAMREC and JORC codes.
ENDS
Contacts: Village CEO, Bernard Swanepoel, ; 083 303 9922
Village COO, Dorian Wrigley, ; 011 484 5005, 082 493 2278 Vestor, Media and Investor Relations, Louise Brugman, ; 011 787 3015; 083 504 1186
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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