Wits Basin mine water treatment plant project nears completion

Goal is dewatering Bates-Hunter Gold Mine shaft that helped spark Colorado gold rush of mid-1800s...

MINNEAPOLIS, MN, June 14, 2005 (BUSINESS WIRE) --Wits Basin Precious Minerals Inc. is pleased to announce that the water treatment plant is being run through final parameters in order to begin the de-watering of the mine shaft.

The Bates-Hunter Gold Mine is covered by a current water discharge permit and our on-site project manager, George Otten, is completing all the final calibrations to bring this brand new 24/7 plant on-line. The initial de-watering process will use a small 10 horsepower pump, which will allow George and his crew to rehabilitate the shaft and monitor water quality. This process will continue until about 130 feet below ground and then a larger capacity 35 horsepower pump will be installed.

The Bates vein, in the area of the Bates-Hunter Gold Mine, was the second lode discovered in Colorado and helped spark the great Colorado gold rush of the mid-1800s. We believe that up to nine principal veins underlie and are now controlled by the Bates-Hunter property. These veins have historically produced approximately 750,000 ounces of gold to about 600 feet average depth below surface or in excess of 1,000 ounces per vertical foot in the immediate vicinity of the Bates-Hunter Gold Mine which was closed in 1936.

At that time, the mine shaft was approximately 800 feet deep and we believe that ore recovery beyond that depth is possible. Historical and current geological assessments show potential for the Bates-Hunter controlled veins to extend downward beyond their current 800 foot maximum depth. Other comparative mines in the area reached depths in excess of 2,200 feet and were still in ore at the time of closure.

Wits Basin Precious Minerals Inc. (www.witsbasin.com) is a minerals exploration and development company holding interests in four exploration projects and currently does not claim to have any mineral reserves on any project.

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