January 30, 2014, Vancouver, B.C., Wellgreen Platinum Ltd. (TSX-V: WG; OTC-QX: WGPLF) “Wellgreen Platinum” or the “Company” is pleased to announce further results from its most recent field program at its 100%-owned Wellgreen PGM-Ni-Cu project, located in Canada’s Yukon Territory. Assaying and interpretation of historic drill core that was previously only selectively sampled has confirmed that the mineralization identified in the Far East Zone announced on November 21, 2013 extends to the west by approximately 300 metres into the East Zone and remains open. The Far East Zone included hole 215, which intercepted 756 metres of continuous mineralization grading 1.92 g/t platinum equivalent (“Pt Eq.”) or 0.46% nickel equivalent (“Ni Eq.”), including a 65.6 metre interval grading 4.19 g/t Pt Eq. or 1.00% Ni Eq. Mineralization was subsequently shown to extend east by more than 325 metres from hole 215 (see news release dated December 15, 2013), which indicates that the higher grade mineralization zone in the Far East Zone extends over a strike length of more than 600 metres and remains open to expansion.

Investors should note that Wellgreen is a polymetallic deposit with mineralization that includes the platinum group metals (PGMs) platinum, palladium, rhodium and other rare PGM metals along with gold, nickel, copper and cobalt. At current metal prices using anticipated metallurgical recoveries and proportionally allocated costs for each of the metals, the net economic contribution is anticipated to be largest for platinum, palladium and gold (3E elements), followed by nickel and then by copper and cobalt. Platinum equivalent values referred to in this release are intended to reflect total metal equivalent content in platinum for all of the metals using relative prices for each of the metals. Please refer to Table 1 for assay results by individual metal and the metal prices used to calculate Pt Eq. and Ni Eq.

The newly interpreted East Zone cross section (578,075 E) is approximately 300 metres west of hole 215 in the Far East Zone and 625 metres west of the eastern-most Wellgreen cross section (578,700 E) discussed in our December 15, 2013 news release. Surface and underground drilling results in the East Zone indicate continuity of the higher grade mineralized zones adjacent to and below a wedge of sedimentary rocks in this portion of the deposit. Historically these sedimentary rocks were believed to be the footwall and the northern end of mineralization in the main Wellgreen deposit. These new drill results in the East Zone confirm there is significant higher grade mineralization which continues below this wedge of sedimentary rocks from the east and which potentially may continue untested to the west under the main Wellgreen deposit. The new assay results indicate that underground drill holes 509 through 511 all intercepted zones of significant mineralization from 44.7 to 58.5 metres in width grading between 2.96 and 3.23 g/t Pt Eq. and all ended in higher grade mineralization which remains open to the south, west and to depth (see Figure 1). These holes were originally drilled to test for massive sulphide mineralization and were only very selectively assayed. The new continuous assay results from these holes demonstrate that a higher grade, high priority target exists to be tested by future drill programs and confirms continuity of that mineralization from the Far East Zone.

Surface drilling results from the East section also indicate that there are broad zones of higher grade mineralization beginning at the surface. Hole 76 on the southern side of the sediment wedge intercepted 28.4 metres grading 3.71g/t Pt Eq. or 0.89% Ni Eq. Hole 78, which was drilled from the same collar as hole 76 but vertically, intercepted 80.6 metres grading 1.99 g/t Pt Eq. or 0.48% Ni Eq. and included a 21.4 metre intercept grading 3.00 g/t Pt Eq. or 0.71% Ni Eq. These near surface intercepts are believed to be the continuation of the higher grade, higher sulphide material that is adjacent to the sediment contact. Similarly, on the north side of the sediment wedge in the North Arm, hole 97 intercepted 53.2 metres grading 2.02 g/t Pt Eq. or 0.48% Ni Eq. Future drilling and metallurgical testing will evaluate the potential of these mineralized areas as near surface starter pits designed to provide higher grade mill feed early in the life of the mine.

Greg Johnson, Wellgreen Platinum’s President and CEO, stated, “After demonstrating that mineralization continued 300 metres to the east of hole 215 in the Far East Zone, we are pleased to report that the same mineralization also continues a similar distance to the west into the East Zone. This higher grade zone of mineralization which typically exceeds 2.5 g/t Pt Eq. now shows continuity over at least 600 metres in strike length, 500 metres width and 100 to 350 metres in thickness within a much larger mineralized body. The higher grade zone also contains a subzone that ranges from 30 to 80 metres in thickness with mineralization between 3 and 6 g/t Pt Eq. This is an exciting development as this material may be amenable to bulk underground mining and may be combined with near surface higher grade zones that have been identified as potential starter pits along the length of the Wellgreen deposit. These results are confirming the predictability of the geologic model for the deposit and will be important for advancing the Wellgreen project to the next level of confidence on the resource estimate update and preliminary economic assessment targeted for Q2 2014. In addition, our technical team has identified a number of compelling targets that remain open to further expansion from future drilling.”

The main Wellgreen resource area has been delineated into five zones which show broad disseminated to high sulphide mineralization contained within host ultramafic rocks. These five zones – the Far West, West, Central, East and Far East Zones – cover an area of 2.5 kilometres in length with mineralization starting at surface and extending, at the deepest known point, to at least 800 metres. These zones form a continuous, moderately to steeply south dipping body of disseminated PGM, nickel and copper mineralization that is typically 100-300 metres in width with some zones of 500-750 metres of continuous mineralization grading approximately 2 g/t Pt Eq.

As can be seen in Figure 1, there has been a combination of surface and underground drill testing conducted in this portion of the East Zone, however a large portion of the cross section remains untested. The underground holes in this cross section were only selectively assayed and targeted higher sulphide material known to host high PGM-Ni-Cu grades. Our complete assaying of this core has confirmed that significant mineralization occurs throughout the drill core within the host ultramafic rocks shown in light purple and that drill holes 508 through 511 ended in strong mineralization. Based on results from the Far East Zone, we now know that higher grade zones can extend hundreds of metres from the sediment contact. For example, hole 215 in the Far East Zone intercepted 65.6 metres grading 4.19g/t Pt Eq. or 1.00% Ni Eq. starting approximately 300 metres below the bottom of the sediment contact (see our November 21, 2013 news release). This untested area to the south and at depth in the East Zone is a priority drill target that will be evaluated in future programs.

The Company continues to receive final assay results from additional holes drilled in 2013 and for a number of the re-logged and sampled historical drill holes. Results from the Central, West and Far West Zones in the Wellgreen deposit will be reported in future updates as they are received and interpreted.

1Footnotes to Drill Interval Tables and Figures: (1) Nickel equivalent (Ni Eq. %) and platinum equivalent (Pt Eq. g/t) calculations reflect total gross metal content using US$ of $7.58/lb nickel (Ni), $2.85/lb copper (Cu), $12.98/lb cobalt (Co), $1270.38/oz platinum (Pt), $465.02/oz palladium (Pd) and $1102.30/oz gold (Au) and have not been adjusted to reflect metallurgical recoveries. The above metal prices are a 20% reduction of the LME 3-year trailing average metal prices as presented in the Company’s technical report entitled “Wellgreen Project, Preliminary Economic Assessment, Yukon Canada” dated August 1, 2012 (the “2012 Wellgreen PEA”) and prepared by Andrew Carter, C.Eng., Pacifico Corpuz, P. Eng., Philip Bridson, P.Eng., and Todd McCracken, P.Geo., of Tetra Tech Wardrop Inc. The 2012 Wellgreen PEA is available under the Company’s profile on SEDAR at www.sedar.com. (2) Ni Eq. % and Pt Eq. g/t in “Base Metals” and “Precious Metals” columns only refers to equivalents of base and precious metals respectively, not total metals. In the “Total Metals” column the Pt Eq. includes both base and precious metals, as does the NiEq. (3) 3E represents the sum of platinum, palladium and gold, measured in g/t. (4) Significant interval defined as a minimum 15 g-m Pt Eq. interval. (5) Cutoff grade of 0.2% Ni Eq. (6) Internal dilution up to six continuous metres of <0.2% Ni Eq. (7) Some rounding errors may occur. (8) True thicknesses have not been measured.

Metallurgical Testing Update

Metallurgical optimization test work continues on representative samples from disseminated mineralization at Wellgreen. Testing has focused on optimizing the process flow sheet and grind size of the mineralized samples. Current work has been advanced using a conventional copper flotation process followed by magnetic separation to increase recoveries of PGM and copper prior to nickel flotation. Batch sample test work continues and includes improvements to the magnetic separation process, optimization of grinding requirements and evaluation of the extraction of the rare PGMs (rhodium, iridium, osmium and ruthenium) in addition to platinum, palladium and gold. Upon completion of the batch sample test work, the metallurgy team will commence locked cycle tests (“LCTs”) on composite samples. The results from this metallurgical test work will be used to generate recovery and concentrate grade assumptions for the 2014 PEA.

About Wellgreen Platinum

Based in Vancouver, Canada, Wellgreen Platinum Ltd. is a platinum group metals focused exploration and development company with advanced projects in the Yukon Territory, Ontario, and Manitoba, Canada. Our 100% owned Wellgreen PGM-Ni-Cu project, located in the Yukon, is one of the world’s largest undeveloped PGM deposits and one of the few significant PGM deposits outside of southern Africa or Russia. Our Shakespeare PGM-Ni-Cu project is a fully-permitted, production-ready brownfield mine located in the well-established Sudbury mining district of Ontario, and our Lynn Lake project is a former operating mine located in Manitoba, Canada.

Our experienced management team has an extensive track record of successful, large-scale project discovery, development, permitting, operations and financing combined with an entrepreneurial approach to sustainability and collaboration with First Nations and communities.

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