Stillwater Mining Company and Johnson Matthey Agree to a Five-Year Platinum Group Metal Refining and Sales Agreement

Stillwater Mining Company and Johnson Matthey Agree to a Five-Year Platinum 
Group Metal Refining and Sales Agreement 
BILLINGS, MT -- (Marketwired) -- 05/16/14 --   STILLWATER MINING
COMPANY (NYSE: SWC) (TSX: SWC.U) (the "Company" or "Stillwater")
announced today that it has agreed to a five-year platinum group
metal (PGM) refining and sales contract with Johnson Matthey, a
leading manufacturer of auto catalysts and precious metals refiner.
The key terms of the agreement are: 

--  Johnson Matthey will purchase all of Stillwater's mined palladium and
    a significant share of their mined platinum based on an annual pricing
    mechanism linked to various industry benchmarks, with Stillwater
    retaining the ability to opt out of the metal sales agreement under
    certain terms and the payment of a nominal fee
--  Stillwater will utilize Johnson Matthey's refining services for all of
    its mined production and recycling material at competitive terms
--  Stillwater will realize a one-time working capital release in the
    range of $17 million to $22 million because of the timing of the new
    sales agreement
--  Stillwater and Johnson Matthey agree to cooperate, where appropriate,
    to secure material for Stillwater's recycling business
--  Johnson Matthey will provide its proprietary PGM market analysis
    services to Stillwater
--  Stillwater and Johnson Matthey agree to actively collaborate on
    technical items in an effort to optimize the PGM smelting and refining

Mick McMullen, the Company's President and Chief Executive Officer,
commented on the agreement, "We are very pleased to further develop
our long-standing partnership with Johnson Matthey, one of the
leading manufacturers of catalytic converters in the world. We
believe that this agreement provides numerous benefits to both
parties at a time in the PGM industry when supplies are constrained
and demand for our products continue to grow. For Stillwater, we
secure favorable long-term pricing for our mined metal, competitive
refining terms, and an excellent partner to help us grow our
recycling business which we have identified as being a core business.
We look forward to working more closely with Johnson Matthey and
believe this an excellent opportunity for both organizations."  
The agreement will be effective on July 1, 2014 and has a term of
five years. The contract contains a clause allowing Stillwater the
ability to terminate the agreement for a nominal fee. 
About Stillwater Mining Company  
Headquartered in Billings, Montana, Stillwater Mining Company is the
only U.S. producer of platinum group metals (PGMs) and the largest
primary producer of PGMs outside of South Africa and the Russian
Federation. PGMs are rare precious metals used in a wide variety of
applications, including auto catalysts, fuel cells, hydrogen
purification, electronics, jewelry, dentistry, medicine, coinage and
other applications. Stillwater Mining Company is engaged in the
development, extraction, processing, smelting and refining of PGMs
from a geological formation in southern Montana known as the J-M Reef
and from the recycling of spent catalytic converters. The J-M Reef is
the only known significant source of PGMs in the United States and
the highest-grade PGM resource in the world. The Company also owns
the Marathon PGM-copper deposit in Ontario, Canada, and the Altar
porphyry copper-gold deposit located in the San Juan province of
Argentina. 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 about Stillwater Mining Company can be
found at its website: 
Mike Beckstead
(406) 373-8971 
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