Corporate Update

    24th January 2008

          Platinum Mining Corporation of India Plc


                    Corporate Update



On 8t August 2007, Platinum Mining Corporation of India PLC ("PMCI"  or the
"Company") announced that the Indian federal authorities had ordered a
suspension of mining activities at the Boula mine, because they asserted that
the mine lay in a designated wildlife zone.

PMCI's joint venture partner, Ferro Alloys Corporation Limited ("FACOR"), has
disputed this and the matter is currently sub-judice with the Honourable Court
of Anandpur in the state of Orissa. The court has granted the status-quo order
and has permitted FACOR to continue mining operations without hindrance, and
FACOR has continued to mine Chromite. FACOR is diligently pursuing the case and
PMCI is engaged in an on-going dialogue with FACOR to understand and monitor the
situation. Based on it's assessment of the position, PMCI is cautiously
optimistic that a court decision in favour of FACOR may be reached . However, in
the event the court rules against FACOR, there can be no assurance that PMCI
will be able to derive value from the Boula mine, the Company's principal
asset..

As a result of the ongoing court process, the sampling and exploration programme
for platinum, which had been planned to commence following entering into the New
Contracts (referred to below), has been deferred pending a successful resolution
between FACOR and the Indian federal authorities..

The New Contracts refer to contracts intended to replace the Joint Operating
Agreement ("JOA") between FACOR and PMCI's 70%-owned subsidiary Boula Platinum
Mining Private Limited ("BPM") dated 5 February 2005. The Joint Venture
Agreement between FACOR, PMCI and BPM is the primary agreement setting out the
terms of the joint venture in relation to the Boula mine, and remains in full
force and effect. Both parties have agreed to suspend negotiations, which were
at an advanced stage, over the New Contracts until there has been a resolution
of the dispute in relation to the wildlife zone.

The Board is resolved to looking for other investment opportunities in the
platinum sector. PMCI announced on 19 October 2007 it had entered into an
agreement, subject to completion of due diligence and necessary Government
approvals, to acquire 20% of the share capital of Majormatic167 (Proprietary)
Limited ("Majormatic") for US$1 million with the right to increase its interest
to 51% by investing a further US $3.5m. Majormatic has been granted the
prospecting rights over the Naboom Platinum Deposit in South Africa. Government
approvals have now been received and the Company has completed its due
diligence. The Company is now providing funding to Majormatic for its drilling
campaign  and once it has funded $1m, it will complete the acquisition of its
20% interest, provided the suspensive conditions of the agreement have been met.
Should these conditions not be met, all PMCI's funding will be re-imbursed. The
drilling campaign at Naboom has now commenced and is expected to be completed at
the end of March 2008. Preliminary results will be made known as soon as
available.

The Company's cash position remains robust with cash at hand in excess of £9m.

Further information will be provided to shareholders in due course.


Enquiries:

Charles Zorab
PMCI
Telephone:     [phone]

James Joyce
WH Ireland Limited
Telephone:     [phone]