PDM Platinum Regs

RNS Number:6504S
Platinum Diversified Mining Inc.
09 March 2007


                        Platinum Diversified Mining Inc.

            Nord Resources Corporation ("Nord") Settlement Agreement


LONDON- March 9 2007 - Platinum Diversified Mining, Inc. ("PDM" or "the 
Company") announced today that PDM and Nord Resources ("Nord") have entered into
a settlement agreement (the "Settlement Agreement") in connection with the
termination of the agreement and plan of merger dated October 23, 2006 (the 
"Merger Agreement").  The Merger Agreement contemplated the acquisition of Nord
by PDM in an all-cash merger transaction (the "Merger").


The Settlement Agreement sets forth the terms and conditions of the settlement
of the dispute and disagreements between PDM and Nord arising from the failure
of the Merger to close.  Although PDM maintains that it did not breach the
Merger Agreement, the Directors concluded that it was in the Company's and its
shareholders' best interests to achieve swift resolution of this matter and to
avoid protracted and costly litigation, the outcome of which would inevitably be
uncertain.


Accordingly, pursuant to the terms of the Settlement Agreement, PDM has made an
initial payment to Nord of $1,100,000 (the "Initial Payment"). PDM is required
to make certain additional payments to Nord, up to a total aggregate amount of
$3,600,000, only if PDM enters into negotiations for one or more acquisitions
that meet certain criteria prescribed in the original admission document filed
by PDM for its initial listing on AIM by March 14, 2007.


The Initial Payment was made without disturbing the funds held in trust for
contemplated acquisitions.  Each of PDM and Nord released the other from any and
all claims in relation to the Merger Agreement and the failure to complete the
merger.  Neither PDM nor Nord admitted any fault in the failure to complete the
merger.


Platinum continues to seek new acquisition opportunities in line with its
original strategy and will make further announcements in due course.


9 March 2007


Enquiries:


Bobby Cooper, Chief Executive Officer                +001-520-544-2206

Tom Myatt, Chief Financial Officer                   +001-520-204-0159


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

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