MINNEAPOLIS--(BUSINESS WIRE)--

Wits Basin Precious Minerals Inc. (OTCBB:WITM) is pleased to announce that the Company has acquired two additional parcels of land in the immediate vicinity of the Bates-Hunter Mine. This acquisition includes related minerals rights. Wits Basin previously announced in its January 22, 2007 Business Development Update its intention to acquire additional land in the surrounding areas.

"Now that we have successfully acquired two adjacent parcels, we plan to continue moving forward on acquisitions of additional properties in the immediate area," stated CEO Stephen D. King. "We are in negotiations with several other property owners. We believe it would be in our collective best interest for those other property owners to join our already assembled critical mass that we have obtained at Bates-Hunter. We are hopeful that the landowners of the smaller properties will see the benefits of joining with us as these other two property owners have understood and done."

About the Surface Drill Exploration Program

The Wits Basin diamond drill program has focused on exploring the Bates Vein below the deepest 745-foot level of past production. The Company has drilled seven angle diamond drill holes totaling over 5,000 feet.

On October 16, 2007, the Company announced that it had intersected an ore-grade gold vein at Bates-Hunter. The assay results were 0.647 ounces per ton (opt) Au over a 5-foot sample interval. Within this sample interval, the highest value reported was 1.197 opt Au over 2.5 feet. This sample is consistent with the 27 samples reported by Harry Williamson in the 1930s from the deepest 745-foot level workings of the Bates-Hunter Mine that averaged 1.37 opt Au. At current gold prices, gold grades in excess of 0.30 opt Au over a minimum 5-foot mining width may be considered economic for underground mining.

"Wits Basin's four-man geological team has conducted an exhaustive, state-of-the-art geological study of the veins in the Bates-Hunter Mine area. This study is the first of its kind to have ever been conducted in the Central City Gold District. Results of the study have revealed several potential gold-bearing ore shoot targets at structural intersections between the three past-productive veins in the district. These targets require diamond drilling," remarked Wits Basin President Dr. Clyde Smith.

The eighth hole now being drilled on the property is BH-07-08 and is a wedged hole from BH-07-07. BH-07-08 is targeted at a potential ore shoot at an apparent structural intersection between the Bates Vein and two other steeply-dipping veins at a vertical depth below surface of 1,000 feet. As a result of the previously announced geological findings, 12 additional drill targets have been identified.

All of the samples that have been taken from the Bates-Hunter Mine have been quite instrumental in building the 3-D model of the drilling progress. To see a short video of this 3-D modeling, please click here (http://www.witsbasin.com/images/BH07-0708-17-20078sm.avi) or visit the Company's website at www.witsbasin.com.