Canadian Platinum Corp. announced the preliminary results of the recently completed Allen Lake Drill drilling program. The program tested two DPEM/VTEM anomalies associated with the Allen Lake Magnetic anomaly with two drill holes totaling 690.3 m. Drill Hole Koop1 (total length 243 m) tested a week DPEM/VTEM anomaly on the southern flank of the Allen Lake Magnetic Anomaly intersecting 243 m of fine to medium grained massive gabbro with an estimated magnetite content of 15%.

No sulphides were identified in the preliminary drill log. Drill Hole Koop 2 tested the eastern VTEM anomaly which had an estimated depth to top of 300 m. The drill hole intersected a thick section of massive gabbro which included a 7.1 m intercept containing trace to 0.5 % pyrrhotite and trace chalcopyrite. An abbreviated drill log of the hole (total length 447.3 m) follows: 0 - 18 m Overburden; 18 - 206.3 m Gabbro - trace to 15% magnetite; 206.3 - 213.4 m Gabbro - trace to 0.5% disseminated pyrrhotite plus trace chalcopyrite; 213.4 - 214 m Gabbro; 214 - 447.3 m Granite.