Disposal of Non-Core Assets

30 January 2014 AQUARIUS PLATINUM LIMITED ASX, LSE & JSE Disposal of non-core assets Aquarius Platinum Limited ("Aquarius" or the "Company") advises that it hasagreed to dispose of two non-core assets that do not form part of the Group'splanned production profile. The sales are subject to completion of specificconditions precedent as outlined in the summary below. Sale of Kruidfontein prospecting rights Aquarius has agreed terms to dispose of 100% of the shares held in its indirectsubsidiary, C&L Mining and Resources (Pty) Limited ("C&L") to PilanesbergPlatinum Mines (Pty) Ltd, a subsidiary of Sedibelo Platinum Mines Limited(previously Platmin Limited) for a total sale consideration of US$30 million incash. The material asset of C&L is a prospecting right known as Kruidfonteinin which C&L has a 90% economic benefit. The sale is conditional on renewal ofthe prospecting right and the approval in terms of Section 11 of the Mineraland Petroleum Resources Development Act 28 of 2002. These approvals arerespectively required by no later (i) than the second anniversary of thesignature date and (ii) the earlier of the third anniversary of the signaturedate and the date falling 2 years after the date of grant of the renewal. Upon completion of the sale, Aquarius will receive $16.2 million (before tax)in consideration for its economic interest in the prospecting right with theremaining $10.8 million (before tax) due to the original vendors of the right.In terms of an agreement with the original vendors of the Kruidfonteinprospecting right, Aquarius may elect to retain the remaining $10.8 million(less any tax payable), in return for an issue of shares in Aquarius, of samevalue, at the time the sale becomes unconditional, resulting in net cashinflows of $27 million (before tax) for Aquarius. Sale of Blue Ridge & Sheba's Ridge Aquarius has agreed terms to dispose of all its indirect interests in BlueRidge Platinum (Pty) Ltd and Sheba's Ridge Platinum (Pty) Ltd to a consortiumled by the China National Arts & Crafts (Group) Corporation for a totalconsideration of $37 million in cash, of which $4.3 million will be lent andadvanced by Ridge Mining (Pty) Ltd to Blue Ridge for a period of 2 years fromthe closing date, being the date on which the last condition precedent to thesale agreement will be fulfilled. The sale agreement is subject to a number of conditions precedent, primarily:Chinese Government approvals, South Africa Competition Commission approval anda number of DMR regulatory approvals. The outside date for the fulfilment ofthe conditions precedent has been fixed at 30 June 2014, but may be extended ifrequired, by agreement between the parties. For further information please contact: Jean Nel - CEO +270100012848 Willi Boehm - Company Secretary +61893675211

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