Global Platinum + Gold, Inc. Announces Proposed Acquisition of PGM Corporation

2-15-2005 

SALT LAKE CITY, February 15 /PRNewswire/--The following is being issued by Global Platinum + Gold, Inc. (OTC: GPGI-news):

Global is pleased to announce that it has entered into a Letter of Intent to acquire PGM Corporation, an Oklahoma corporation, in a stock for stock transaction.  PGM Corporation was founded by Russell Twiford, its President, and is the owner of the proprietary process utilized by Global to extract gold and platinum. The principal assets of PGM consist of approximately 305 acres that has an estimated appraised value of $2,000,000, subject to secured indebtedness of $440,000, ownership of the process to extract precious metals, various equipment utilized in connection with the current pilot plant operation, and the considerable know how and experience of management. 

The benefit to both companies is readily apparent; Global has arranged for the financing to build the plant and is presently negotiating for the financing to borrow against the real property to provide for the working capital needed to run the plant; the PGM shareholders will be given Global stock that can eventually be traded in the open market; and Global will control the process and have the benefit of the  technical expertise afforded by the management of PGM.  Global presently has a license to utilize the process together with any improvements made thereon.

The proposed Agreement and Plan of Reorganization is expressly made subject to the approval of a majority of the PGM shares issued and outstanding. It is contemplated this proposed transaction will be approved and consummated on or before 30 days from date. PGM has approximately 19 million shares issued and outstanding and as part of the Agreement, Global will exchange a like number of shares for the PGM shares together with certain options to acquire an additional 9.5 million shares over a three year period.

Progress towards getting the plant constructed on a timely basis is on schedule and Management intends to keep its shareholders fully apprised of material developments as they occur.

This communication to shareholders and the public contains certain forward looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding estimated reserves, estimated future production, and the value thereof, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.