Letters of Intent

RNS Number:8853S
Platinum Diversified Mining Inc.
14 March 2007

For Immediate Release
                                    14 March, 2007

                        Platinum Diversified Mining Inc
                         ("Platinum" or the "Company")



 Platinum Diversified Mining Signs Letters of Intent For Qualifying Transaction


New York, NY: Platinum Diversified Mining, (PDM-London AIM) announced today that
two separate letters of intent have been signed on mining projects which, taken
in aggregate, will constitute a qualifying transaction for the purpose of
submitting the acquisitions to a vote of the company's shareholders to release
the trust funds.

In the first acquisition, the company has entered into a letter of intent to
purchase all of the assets of Moen Builders, M & W Milling and Roy and Marlene
Moen in the Virginia City District of Madison County, Montana. For a total
consideration of $33 million in cash and Platinum common shares, plus a 2% Net
Smelter Returns Royalty, Platinum will acquire the Moen's over 5,000 acres of
patented and unpatented mining claims, two fully permitted processing mills,
stockpiled ore and assorted mining and milling equipment. The historic Virginia
City Mining District produced over 5,000,000 ounces of gold from placers in the
late 19th and early 20th centuries. In recent decades, Kennecott, BHP, Noranda
and several smaller companies spent in excess of $20,000,000 in various drilling
campaigns designed to prove up lode gold resources in the district. Various
reports by several independent geologists suggest district wide potential
resources of between 3,000,000 and 15,000,000 ounces of gold. With the declining
gold market conditions in the early part of the current decade, Mr. Moen was
able to consolidate virtually the entire district under common ownership for the
first time. During the due diligence period, Platinum will be finalizing a
review of historic data and commissioning its own independent evaluation of the
gold potential of the Virginia City District.

In the second transaction, the company has entered into a letter of intent to
acquire 100% of all interests held by a private Santiago family for two large
copper properties in northern Chile. Both properties are currently under
purchase contracts to third parties, but Platinum will acquire the underlying
passive ownership interests and will gain full control of the properties should
the existing contracts not be completed.  Both properties have very large
resources of copper mineralization, both oxide and sulfide, identified by
substantial drilling campaigns. Platinum will purchase the two Chilean projects
for $7,150,000 USD.

Both potential acquisitions are subject to extensive due diligence, and will
require the production of a new AIM admission document by Platinum as required
by the AIM Rules. Completion of the acquisitions is subject to, inter alia,
shareholder approval which will be sought at a shareholders' meeting which will
be convened following the publication of relevant information including the AIM
admission document. The Company has requested that its shares and warrants be
suspended from trading on AIM pending the publication of this information. If
approved by shareholders, the Directors expect the acquisitions would, in
aggregate, be a qualified business combination as defined in its AIM Admission
Document dated 14 March 2006.

Platinum's shares and warrants will remain suspended from trading for a maximum
period of six months, pursuant to AIM Rule 41, following which the Company will
be cancelled from AIM, unless prior to 14 September 2007 the Company publishes
an admission document in connection with the acquisitions.

For More Information Contact:

Bobby Cooper, CEO
001 520 544 2206

Tom Myatt, CFO
001 520 204 0159


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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