THARISA – Report on the Karo Platinum Project

Paphos, Cyprus – Tharisa has announced that it uploaded the Independent Competent Persons’ Report (‘CPR’) on the Karo Platinum PGE Project (‘the Project’) in Zimbabwe.

The Company is an effective 65.59% shareholder in Karo Platinum (Private) Limited (‘Karo Platinum’. The CPR has been commissioned to comply with the regulations of the JSE for listed companies, with the purpose of presenting the Mineral Resources and Mineral Reserves of the Project and of valuing the mineral asset.

Karo Platinum is a PGM asset under construction, located some 85 km west-southwest of Harare in the Mashonaland West Province of Zimbabwe. Mine development will initially comprise the sequential development of four open pits. Ore will be processed at an on-site, 220 ktpm processing facility.

All licences and permits are held in the name of Karo Platinum. Karo Platinum has addressed Zimbabwean legal compliance requirements, including licencing and environmental and social aspects. There are no major risks identified in association with the current and planned permitting.