Early in 1999 the
Company drilled seven core holes on the Platreef of the Bushveld Complex
in South Africa and discovered platinum mineralization. The Company,
at that time, did not have the resources to further develop this project
and therefore sold its interest to a larger mine developer. From the
proceeds of the sale Pinnacle was able to finance the acquisition and
development of its vanadium, tantalum, diamond and gold projects.