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Welcome to Peregrine Metals

On October 4, 2011, Stillwater Mining Company completed the acquisition of Peregrine Metals Ltd.

Peregrine Metals had a 100% interest in the large Altar porphyry copper-gold deposit ("Altar" or "the Project") located in San Juan Province, a mining-friendly jurisdiction of Argentina. A total of 149 holes have been drilled at Altar since 2003 for 58,642 metres.

On July 11, 2011, Stillwater Mining Company and Peregrine Metals Ltd. announced that they have entered into a definitive agreement pursuant to which Stillwater, by way of a Canadian plan of arrangement, will acquire all of the outstanding shares of Peregrine. Under the terms of the Agreement, Stillwater will exchange 0.08136 shares of Stillwater common stock and US$1.35 in cash for each common share of Peregrine. Based on the closing share price of Stillwater common stock as of July 8, 2011, which was US$23.72, the Agreement places a value on Peregrine common shares of US$3.28 (CDN$3.16) per share. This represents a total purchase price of US$487.1 million, and assumes the exercise of all outstanding Peregrine options and warrants resulting in a CDN$34.4 million (US$35.7 million) contribution to treasury, and implying a net equity value of US$451.4 million. The acquisition was completed on October 4, 2011, and Stillwater and Peregrine shareholders own approximately 89.5% and 10.5%, respectively, of the combined company on a fully diluted basis.