Canadian Platinum Corp. Announces Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, ALBERTA -- (Marketwire - June 7, 2012) - Canadian Platinum Corp. ("CPC" or the "Company") (TSX VENTURE:CPC) is pleased to announce that it has arranged a non-brokered private placement to sell an aggregate of up to 2 million common shares ("Common Shares") at a price of $0.15 per share for gross proceeds to CPC of up to $300,000 (the "Offering"). No finder's fees or commissions will be paid in connection with the Offering.

Net proceeds of the Offering will be used to fund the Company's ongoing analysis of prior exploration results and general working capital.

Shares issued pursuant to the Offering will be subject to a four-month hold period. The Offering is subject to regulatory approval.

Canadian Platinum Corp. is a Calgary, Alberta based corporation engaged in the exploration for platinum group and base metals in Canada.



CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release may contain statements within the meaning of safe harbour provisions as defined under United States Securities Laws and Regulations. The above statements are based on the current expectations and beliefs of the management of Canadian Platinum and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact Information

Canadian Platinum Corp.
Steve McGuire
Investor Relations
1-416-306-2496
1-416-369-0515 (FAX)
steve@teatyn.com
www.canadianplatinumcorp.com