Wellgreen Platinum Provides Wellgreen Project Update - Seite 2

The Company has also commenced an evaluation of the cost and benefits of defining and quantifying the exotic PGMs - rhodium, iridium, osmium and ruthenium - in an effort to potentially incorporate these metals into the mineral resource estimate for the Wellgreen project. Historic production and metallurgical testing demonstrated that these exotic PGMs report to the concentrates, and this could increase total PGM content by as much as 10-25% based on historical metallurgical testing data points. However, the exotic PGMs were not included in the economics of the 2015 PEA since they were not included in the Wellgreen project's mineral resource estimate. The Company is currently carrying out an assessment of Quality Assurance/Quality Control (QA/QC) on its existing exotic PGM assays and is reviewing the availability of additional sample material from past programs to complete additional analyses that may allow for the exotic PGM sampling to be brought into the mineral resource estimate for the Wellgreen project.

Preparations are currently underway for the Phase 1 drill program identified in the 2015 PEA and we have selected Major Drilling as the main drill contractor. The drill program is designed to advance the Wellgreen project towards a Pre-Feasibility Study (PFS) level and initial drilling will focus on the highest priority in-fill and offset drilling within the 2015 PEA base case pit, along with key offset drilling of unclassified material both down dip and up dip within the Stage 5 expansion pit. Regular updates on each of these key areas of focus will be provided as substantial results are received and interpreted.

The budget for the Phase 1 drill program and the other evaluation work that is underway is approximately $4.2 million. The Company reported $8.2 million in cash and cash equivalents as at March 31, 2015, in its recently filed Q1 2015 financial statements. We believe the development of a low cost, open pit, road-accessible PGM and nickel project in the mining-friendly Yukon Territory represents a truly unique opportunity for our Company and its shareholders. We look forward to reporting on our PFS-level work and related studies on the Wellgreen project in future updates.