Stillwater Comments on ISS Report

  Stillwater Comments on ISS Report

  ISS’s Recommendation to Elect Four Clinton Group Nominees Would Result in
         Effective Control of Stillwater by a 1.3 Percent Shareholder

Urges Shareholders to Vote FOR All of Stillwater’s Director Nominees on WHITE
                                  Proxy Card

Business Wire

BILLINGS, Mont. -- April 19, 2013

Stillwater Mining Company (NYSE:SWC) (TSX:SWC.U) (“Stillwater” or the
“Company”) today commented on a report issued by Institutional Shareholder
Services (“ISS”), on April 19, 2013. Stillwater strongly disagrees with ISS’s
analysis and is continuing to urge shareholders to vote FOR all of its highly
qualified, incumbent director nominees at the Company's 2013 Annual
Shareholders Meeting, which will be held on May 2, 2013.

Frank McAllister, Stillwater’s Chairman and Chief Executive Officer, said, “We
strongly disagree with the analysis and recommendation put forward by ISS. ISS
bought into the Clinton Group’s misleading and selective facts about
Stillwater and its history, and ultimately produced a flawed recommendation.
If all four of these Clinton nominees are elected, it would represent a
majority of independent directors or effective control of the Company. We do
not believe that this would be in the best interests of all Stillwater
shareholders. We will be communicating further with shareholders about why
they should support Stillwater's nominees and the defects of the ISS
analysis.”

Mr. McAllister added, “The vote of our shareholders is critical, and our
investors should not support a dissident hedge fund with a misguided, value
destructive agenda. We urge shareholders to vote the white proxy to elect all
of Stillwater’s nominees, who are committed to serving the best interests of
all Stillwater shareholders.”

Stillwater notes that several analysts – financial experts with backgrounds in
mining, who follow Stillwater on a regular basis – understand Stillwater’s
business and agree with the Company’s proper analysis:

  *“Having looked at the complaints of the Clinton Group, we have to say that
    we largely agree with Stillwater.” - Leon Esterhuizen, CIB,C March 20,
    2013
  *“SWC is the best pureplay. Stillwater is the largest North American PGM
    producer (75% of mine output is palladium, the remainder is mostly
    platinum) and in our view best positioned to benefit from supply
    challenges globally.” - Sam Dubinsky, Wells Fargo, February 19, 2013
  *“The company is again working to grow its skilled worker base. Increased
    costs result in part from improved payments to its underground miners. We
    feel this should reduce labor turnover and thereby improve productivity.”
    - John Bridges, J.P. Morgan, March 27, 2013

In addition to financial analysts, independent third parties, who have a
thorough understanding of Stillwater’s business and have a stake in its future
success, have publicly expressed their support of Stillwater’s director
nominees. For example:

  *The United Steelworkers, the Union that represents many of Stillwater’s
    employees, has expressed opposition to the Clinton Group’s attempt to
    replace Stillwater’s Board of Directors and CEO, stating: “There is no
    question about what is best for the success of the Stillwater Mining
    Company and the USW’s membership in this upcoming proxy fight. CEO Frank
    McAllister and the existing Board of Directors have done a good job
    running the Company, and the Clinton Group’s attempt to replace them is
    meritless.” (United Steelworkers Letter to Stillwater Shareholders, April
    7, 2013)
  *The Good Neighbor Agreement (GNA) Councils have encouraged shareholders of
    Stillwater to vote in support of the current Board and management,
    stating: “The Councils appreciate and respect the commitment shown by the
    current leadership of SMC over the last twelve years to implement and
    promote the GNA. The Councils encourage shareholders of SMC to vote in
    support of the current Board and management.” (Good Neighbor Agreement
    Councils Letter to Stillwater Shareholders, April 2, 2013)

All shareholders of record as of March 6, 2013 are entitled to vote at the
2013 Annual Shareholders Meeting. Stillwater encourages all shareholders to
carefully review its definitive proxy filing and other materials and vote only
their WHITE proxy card. For more information about Stillwater’s 2013 Annual
Shareholders Meeting, please visit www.supportstillwater.com.

About Stillwater Mining Company

Stillwater Mining Company is the only U.S. producer of palladium and platinum
and is the largest primary producer of platinum group metals outside of South
Africa and the Russian Federation. The Company’s shares are traded on the New
York Stock Exchange under the symbol SWC and on the Toronto Stock Exchange
under the symbol SWC.U. Information on Stillwater Mining Company can be found
at its website: www.stillwatermining.com.

Some statements contained in this news release are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, and,
therefore, involve uncertainties or risks that could cause actual results to
differ materially. These statements may contain words such as "believes,"
"anticipates," "plans," "expects," "intends," "projects", "estimates,"
"forecast," "guidance," or similar expressions. These statements are not
guarantees of the Company's future performance and are subject to risks,
uncertainties and other important factors that could cause our actual
performance or achievements to differ materially from those expressed or
implied by these forward-looking statements. Such statements include, but are
not limited to, comments regarding expansion plans, costs, grade, production
and recovery rates, permitting, financing needs, the terms of future credit
facilities and capital expenditures, increases in processing capacity, cost
reduction measures, safety, timing for engineering studies, and environmental
permitting and compliance, litigation, labor matters and the palladium and
platinum market. Additional information regarding factors, which could cause
results to differ materially from management's expectations, is found in the
section entitled "Risk Factors" in the Company's 2012 Annual Report on Form
10-K and in subsequent filings with the United States Securities & Exchange
Commission. The Company intends that the forward-looking statements contained
herein be subject to the above-mentioned statutory safe harbors. Investors are
cautioned not to rely on forward-looking statements. The Company disclaims any
obligation to update forward-looking statements.

Contact:

INVESTORS:
Mike Beckstead, 406-373-8971
or
Innisfree M&A Incorporated
Arthur Crozier / Jennifer Shotwell / Scott Winter, 212-750-5833
or
MEDIA:
Sard Verbinnen & Co
Dan Gagnier / Michael Henson, 212-687-8080
 
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