Update re: Letters of Intent

RNS Number:1868Z
Platinum Diversified Mining Inc.
28 June 2007



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

                       Update regarding Letters of Intent

The Board of the Company announces that discussions with Golden Eagle
International Inc. in respect of the transactions disclosed on 5 June 2007 have
been terminated.

The Company has entered into a non-exclusive, non-binding letter of intent
regarding the proposed acquisition of International Consolidated Minerals
Limited ("ICM"), a company whose primary asset is the Pachapaqui Mine, a
poly-metallic mining project in Peru (the "Proposed Acquisition"). The Directors
held discussions with ICM in February 2007 regarding a proposed acquisition of
ICM by the Company, although these prior discussions were not progressed at that
time.

The Directors believe that the Proposed Acquisition represents an excellent
opportunity for PDM shareholders to participate in the development of an asset
with significant upside potential. The Pachapaqui Mine is a silver, lead, zinc
and copper asset comprising 32 Peruvian mining concessions covering
approximately 2,105 hectares and one Peruvian beneficiation concession covering
65 hectares in an area well known for the quality of its mineral deposits.

The Directors intend to engage the Company's shareholders in due course to
discuss the Proposed Acquisition which, if progressed, will require the approval
of shareholders in general meeting. If approved by shareholders, the Proposed
Acquisition will require the production of a new AIM admission document by the
Company, as required by the AIM Rules.

Enquiries:

Platinum Diversified Mining Inc.
Bobby Cooper, Chief Executive Officer                +001-520-544-2206
Tom Myatt, Chief Financial Officer                   +001-520-204-0159

Strand Partners Limited
Simon Raggett                                        [phone]
Warren Pearce




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