APP Appreciate Group Plc

RNS Number:9177M
African Platinum Plc
31 May 2005

African Platinum plc (formerly Southern African Resources Plc)
Ticker: APP (formerly SFU)
Index:  AIM
Sector: Exploration



AFPLATS GEARS UP FOR US LISTING



London, 31 May 2005  -  AIM-listed platinum exploration development company
African Platinum (formerly Southern African Resources*) announced today that it
had appointed KPMG Audit Plc as its auditors in preparation for its planned
secondary listing on the American Stock Exchange.  The US listing is designed to
facilitate further investment by North American investors.



Afplats now expects to publish its audited abridged results for the year to 31
March 2004 in the course of August, and its annual financial statements will be
published in September.



Afplats today also announced the appointment of Evolution Securities as its
nominated advisor and sponsoring broker with immediate effect.



Meanwhile, the pre-feasibility study on Afplats's flagship Leeuwkop project in
the Western limb of the South African Bushveld Complex is due to be published
shortly.  The current mineral resource is 50 million ounces 4E (the three
platinum group metals plus gold) including 8 million ounces in the indicated
category, and the company's objective is to build a resource base exceeding 100
million ounces 4E in the greater Leeuwkop/Imbasa/Inkosi project area.  The
Leeuwkop scoping study envisages a 300 000 ounce 4E per year mining and
concentrating operation as the first phase of a project that will eventually
encompass multiple mines on the property.  Afplats also holds exploration rights
over prospective platinum group metals targets in countries neighbouring South
Africa.



AFRICAN PLATINUM PLC ENQUIRIES:

Chief Executive - Roy Pitchford
+27 (0)82 419 2581 or +44 (0)77 9390 9985


Investor & Media Relations - Kathy du Plessis
+27 (0)11 728 4701 or +27 (0)83 266 5847 (Mobile)
platinum@dpapr.com  or info@afplats.com

Website: www.afplats.com or www.sar-plc.com



*NOTE ON AFPLATS: On 25 May 2005, Shareholders of Southern African Resources Plc
approved a proposal to change the company's name to African Platinum plc  -
Afplats for short  -  which was registered with the Registrar of Companies with
immediate effect.  The company's AIM trading symbol changed from SFU to APP with
effect from 26 May 2005.  The name change was designed to give the company a
more clearly descriptive identity ahead of its planned secondary listing on the
American Stock Exchange.  "Given our exclusive focus on platinum group metals
and our goal of building the premier pan-African platinum investment
opportunity, we felt our old name was too generic to support our expanding
corporate marketing campaign.  'African Platinum' on the other hand states the
nature of our business explicitly," CEO Roy Pitchford said.





DISCLAIMER: Investing in all equities, including natural resources-related
equities, carries risks which should be taken into consideration when making an
investment. This announcement contains forward-looking statements regarding
Southern African Resources Plc, including the development of its mining
development projects.  Actual results relating to any and all of these subjects
may differ materially from those presented.


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