Eastern Platinum Limited

Eastern Platinum Limited

October 11, 2007 18:24 ET

Eastern Platinum Limited: News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2007) - Eastern Platinum Limited (the "Company") (TSX:ELR)(AIM:ELR)(JSE:EPS) reports that on October 4, 2007, in accordance with the Company's Stock Option Plan (the "Option Plan") and the policies of the Toronto Stock Exchange (the "TSX") it granted Incentive Stock Options on 15,090,000 shares of the Company's capital stock, exercisable up to October 5, 2017 at a price of $2.31 per share. The exercise price of these options was set at market price as defined by TSX policy.

These options were granted to employees and officers of the Company, including Directors Mr. Ian Rozier and Mr. David Cohen as to 3,925,000 options each, 1,200,000 options to Mr. John Andrews, and 200,000 options each to Mr. Gordon Keep, Mr. Jeff Hawkrigg and Mr. Merfyn Roberts.

The Company has a total of 668,128,194 issued and outstanding shares, a market capitalization of approximately Cdn$1.8 billion on an undiluted basis, and has working capital of approximately Cdn$200,000 million.

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