Eastern Platinum Limited

Eastern Platinum Limited

October 24, 2007 05:00 ET

Eastern Platinum Limited: Infill Drilling at Kareespruit Section 75% Complete

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2007) - Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS), is pleased to report that the infill drilling program at the Kareespruit section of the Crocodile River Mine ("CRM") in South Africa is 75% complete. The Kareespruit section comprises an area of approximately 5 square kilometers located immediately to the west of the Maroelabult section at the CRM, being an on-strike and down-dip extension of the UG2 reef currently being mined at Maroelabult.

Thirteen diamond drillholes were put down at Kareespruit during a previous exploration program conducted by Impala Platinum Limited. Details of this drilling, along with Mineral Resource estimates at Kareespruit, 'prill splits' and estimated loss factors for the UG2 Reef were reported in a news release dated October 31st, 2006. The quality of the Reef intersections, the average grade and the Mineral Resource estimate suggested significant economic potential for the PGM resource in the UG2 Reef at Kareespruit. The current program is an infill drill program designed to upgrade the Indicated and Inferred Resources in the UG2 Reef for input into a pre-feasibility study being undertaken on the project and to evaluate the Merensky Reef across the property.

The infill drill program planned for approximately 15,700m with the possibility of the program being extended to evaluate the continuity of the UG2 reef over a strike length of 5000m and to a maximum depth of 1000m, subject to the results of shallower drilling. Highlights of the work to date are as follows;

- A total of over 17,000m have been completed in 26 holes and 2 holes are in progress.

- In the UG2 Reef 77 reef intersections have been drilled from 23 'mother holes' and 54 deflections.

- In the Merensky Reef, 78 reef intersections have been drilled from 25 'mother holes' and 53 deflections.

- Of the 26 holes only one did not intersect either the Merensky or UG2 Reefs because of a geological replacement structure. Two holes were abandoned because of poor drilling conditions and have been re-drilled.

- Of the two holes in progress, the first hole has intersected both the UG2 and Merensky.

Drill and assay results will be used to generate new Mineral Resources estimates for input into the Kareespruit pre-feasibility study.

"With the consistency of the reef intersections across the property and the average grades reported from previous work, Kareespruit clearly has the potential to become a significant resource block at CRM," stated Ian Rozier.

Certain statements included herein constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements are based on certain assumptions by Eastplats and Barplats and as such are not a guarantee of future performance. Actual results could differ materially from those expressed or implied in such forward-looking statements due to factors such as general economic and market conditions, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

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