NICKEL DEVELOPMENT – Implats pulls out of Ambatovy

MADAGASCAR - Just months after agreeing to join the US$2.25-billion development of the Ambatovy laterite mine, South Africa's IMPALA PLATINUM HOLDINGS (Implats) has changed its mind. Implats was to hold a 37.5% interest in the project. Its share will revert to Toronto-based DYNATEC CORP., and SUMITOMO CORP of Japan holds a 25% interest.

Dynatec says it remains committed to the Ambatovy project and will be seeking another partner or partners. For more information see CMJ's Net News of Aug. 17, 2005, or Dynatec's website at www.Dynatec.ca.