From: Tabatha LeBlanc <email address removed> Sent: March 28, 2014 12:26 PM To: Spagnuolo,Colette [CEAA] Cc: Clark Gilbert Subject: March Monthly Update Dear Ms. Griffiths, As requested, Stillwater Canada Inc. is providing a monthly update for the Marathon PGM-Cu Project. For the month of March, the evaluation of the Project continues and there are no status updates or schedules for completion available at this time. Stillwater is committed to keeping our communities informed and hosted a public information session on March 5th in the Town of Marathon. The purpose of the session was to provide information about the Marathon PGM-Cu Project and answer questions. Stillwater has extended an offer to our aboriginal communities to host a similar information session for their community. A copy of the March 5th presentation has been enclosed with this email for posting on the CEA Registry. Sincerely, Tabatha ____________________________

Tabatha LeBlanc BSc EP

Environmental Manager

<contact information removed>

Town of Marathon

Public Session

March 5, 2014

Purpose of Today’s Session

1. Correct and Clear Communication

Visible and available to our communities, public, aboriginal groups and other stakeholders interested in the Marathon PGM-Cu Project

Directly from Stillwater and not from second hand sources

2. Project Goals

3. Project Design

4. Request to Suspend Environmental Assessment

5. Recent Updates and Next Steps

6. Questions and Answers

Project Goals

3

• Conduct ourselves and activities in the spirit of

a good corporate citizen

• Sincere and transparent communication

• A safe work environment

• Develop the Project in a responsible manner

• A benchmark for environmental protection in

Ontario, striving for continual improvement

• Potential revenue source for governments

• Provide suitable return for investors

Project History

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• 1920’s -1940’s , indication of iron and copper mineralization

• 1963, Anaconda first comprehensive drilling program (Discovery of PGM-Cu deposit)

• 1986 – 2014, resource & feasibility studies for the site completed by Anaconda, Fleck

Resources (Polymet Mining), Geomaque, Marathon PGM Corp. and Stillwater

• 2008, Economic down turn, activities reduced at Marathon PGM Corp.

• 2010 February, Project Description submitted to trigger Environmental Assessment (EA)

• 2010 July, EA Suspension to prepare addendum to Project Description

• 2010 November, Stillwater Mining Corp. acquired Marathon PGM Corp. platinum group

metal assets

• 2012 April, Mitsubishi ‘s MC Mining acquires 25% ownership of Stillwater Canada Inc.

• 2012 June, Submission of Environmental Impact Statement Report and Supporting

Information Documents

• 2013 December , Joint Review Panel determines sufficiency

• 2014 January, EA Suspension to complete evaluation of Project

Principles of Environmental Design -

Design into Practice

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Project development has incorporated

environmental design principles.

Environmental Assessment is a

planning tool.

Examples:

• Evolution of Project Design through

consultation resulted in reduced footprint

• Segregation of potential acid generating

mine rock and process solids

• Selection process used for the mine

components based on alternatives

assessment and regulatory feedback

• Effluent discharge locations selected

based on receiving environmental

suitability and Aboriginal and Public

consultation

Project Components

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• Average milling rate of 25,000 to 28,000 tpd crushing plant &

concentrator

• Operating life of mine approximately 10 to 12 yrs

• Open pit with satellite pits

• Mine rock stockpile area (MRSA)

• Process solids management facility (PSMF)

• Associated infrastructure:

• Access road to site

• Hydro corridor

• Explosive Plant

• Rail load-out facility

• Concentrate storage facilities

• Warehouse and maintenance facilities

Suspension of Environmental Assessment

• A request to suspend the Environmental Assessment

was made to Joint Review Panel on January 30

• Based on the shareholders’ continuing strategic review,

SCI have determined to suspend the permitting process

until a full evaluation of Project is complete.

• January 31, the Joint Review Panel responded and

suspended the Environmental Assessment for the

Project.

• Link for CEA Registry http://www.ceaa-

acee.gc.ca/050/details-eng.cfm?evaluation=54755

Recent Updates

• Recent updated study work indicates the project will not provide an acceptable level of return to its shareholders.

• The SCI project team has identified opportunities that, if feasible, may improve the level of shareholder return from the project. This may require changes to the currently proposed Plan of Operations.

• SCI is in the process of reorganizing offices to better match with the anticipated scope of work going forward.

Next Steps

• Project fits within strategy of focusing on PGM assets in low geopolitical risk jurisdictions

• High quality JV partner (Mitsubishi – 25% stake)

• Committed to completing feasibility study and project optimization

• As soon as decisions or milestones are determined, Stillwater will be communicating with our communities.

• Contact us by dropping by the office, phone or email if you have any questions.

Questions and Answers

Thank- you for your participation and interest in the Marathon PGM-Cu Project

You can send your comments or questions to email: comments@marathonpgmproject.com Marathon Office Peninsula Road phn:807-229-9430

Stillwater Mining Company Press Releases: http://investorrelations.stillwatermining.com/phoenix.zhtml?c=99837&p=irol-news&nyo=0