RNS Number:8013P
Braemore Resources PLC
19 January 2007




                             Braemore Resources plc


          Placing Raises  #7,700,000 for Nickel and Platinum Projects


The Board of Braemore Resources Plc ("Braemore" or "BRR") is pleased to announce
that it has entered into agreements for a placing of 128,333,333 ordinary shares
at an issue price of 6 p per share to raise #7,700,000.  The proceeds will be
applied to the development and exploitation of nickel and platinum projects,
including those arising from the recent acquisition of Independence Platinum
Limited ("Independence Platinum") by Braemore.


On 20th December 2006, Braemore announced that it had entered into an agreement
("Nickel Rights Acquisition Agreement") to acquire control of Independence
Platinum, an unlisted company registered in England and Wales.


Independence Platinum is implementing plans to evaluate, establish and operate
independent base metals refining facilities for the smelting and refining of
sulphide concentrates containing platinum group metals ("PGM") from emerging
platinum producers in South Africa.


The new smelting and refining facilities are being evaluated in terms of an
initial capacity to process 360,000 tonnes of PGM sulphide concentrates per
annum, to extract and produce up to 30,000 tonnes of nickel metal, 15,000 tonnes
of copper metal and 1,000,000 ounces of PGM in a high grade PGM concentrate for
subsequent precious metal refining.


The Directors of Braemore believe that the acquisition of Independence Platinum
provides a strategic platform for Braemore to acquire a substantial share of
growth in nickel production with significant PGM credits from the development of
new platinum projects in South Africa.


The placing is being made in two tranches to institutional investors in the
United Kingdom, USA and in Europe.  The first tranche of #6,000,000 is expected
to be completed by 6 February 2007.



The second tranche of #1,700,000 is on agreed deferred settlement terms, and
subject to the approval of shareholders of Braemore at a meeting to be held on
20 February 2007.



"We are pleased with the very positive response and level of support from major
shareholders and new institutional investors arising from the initiative to
acquire Independence Platinum", said Mr Clayton Dodd, an Executive Director of
Braemore.



"Completion of the placing enables Braemore to proceed with a substantial
program focused on value building from nickel and platinum projects for
shareholders throughout 2007."



19 January 2007



For further information contact:

Braemore:
Mr Clayton Dodd
Executive Director
Braemore Resources Plc
Telephone (Office):         +61 8 9218 8833
Telephone (Mobile):        +61 418 919 864



Nabarro Wells & Co. Limited
Mr Hugh Oram
Director
Telephone (office)           +44 20 7710 7400



Parkgreen Communications
Justine Howarth/Ana Ribeiro
Telephone (Office):         +44 20 7493 3713




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